Asian funds hit by gruelling June but beat benchmarks

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Median performances for Asia equity-focused hedge fund managers were punished by a gruelling June as expected, though defensively positioned managers focused in Chinese and Australian equities were able to beat benchmarks. There was a 0.73% decline in the AsiaHedge Composite Index overall.

Year-to-date median performance also slipped into negative territory and reflected the difficulty faced by managers in delivering alpha amid a challenging environment spooked by deepening problems in Europe and the US.

While they may have underperformed the market in June, Asia-Pacific-focused managers were still ahead in the first six months of