Suddenly, survival is 'the name of the game'

Wed Apr 30, 2008



By Neil Wilson

All things considered, the first quarter was pretty gruesome for many hedge funds. On average, hedge funds globally dropped more than 1.2% in March, leaving them down an estimated average of 1.66% for the quarter, according to the HedgeFund Intelligence Global Index. But the red ink was a whole lot worse in plenty of areas.

Hedge funds in Asia were particularly hard hit, with the average fund dropping 2.52% in March, to leave the AsiaHedge Composite down an estimated 5.36% for the first quarter. This was still significantly better than the Asia-Pacific equity markets - with the MSCI Pacific Free Net index dropping 9.57% over the same period. But it was obviously not great - even after what was a good year for Asia-Pacific funds in 2007. And some first-quarter returns were particularly weak among single-country funds in India, China and Australia. In all...

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