As the summer in the northern hemisphere draws to a close,
Asian hedge fund managers can look back on a period that was
either very painful or packed with opportunities, depending on
how well-equipped their strategies were to ride out volatility.
Bad news from the US and Europe rocked regional markets, and
for many managers the spectre of 2008 loomed large.
By the month-end the AsiaHedge Index was down 2.12%, vs
1.76% for the HFI Global Index, and losses of 1.77% and 1.40%
for the EuroHedge Composite Index and Absolute Return
(American) Composite Index, respectively. However, this
negative overview belies the fact that Asian managers in
general have emerged in far better shape than investors might
have expected, with some surprising winners along the way.
"The start of the summer was difficult. There have been a
lot of V-shaped markets since May, but in hindsight this...