Asia Hedge Funds Decline
Asia Hedge Funds Decline Nearly 5% in May
The Eurekahedge Asia ex-Japan Hedge Fund Index declined 4.86% last month from April, and was down 3.15% year to date. This year's rocky record contrasts with last year, when Asian hedge funds rose 38.08%, outpacing gains in other regions.
Globally, hedge funds had a rough month in May amid rocky market conditions. The month kicked off with a sudden 1,000-point intraday drop in the U.S. markets on May 6, which was followed by dips in Asian markets. There were also concerns about sovereign debt problems in Europe, political unrest in Thailand and a massive oil spill in the Gulf of Mexico.
The Eurekahedge Hedge Fund Index was down 1.88% in May from the previous month; year to date, the index was up 1.3%. North American and Latin American hedge funds did the best on an absolute basis in May: down 0.92% and 0.87% from the previous month, respectively. Source