Performance

Medians end year strongly, but lag behind benchmarks

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Asian hedge fund medians ended the year on a mostly stronger note, with regional managers underperforming or closely matching their benchmarks.The AsiaHedge Composite Index’s rise of 1.74% was overshadowed by the MSCI Pacific Free Net’s 7.6% gain. The year-to-date figures show a greater performance gap, with the AsiaHedge Composite Index’s returns of 6.88% falling just under half that of the dollar benchmark’s 15.92% rise.Similarly, Asia ex-Japan equity funds returned 1.96% in December, well behind the 7.56% rise in the MSCI Pacific ex-Japan Index.