Event-driven funds struggle in turmoil


Asia-focused event-driven funds, including a number of new launches since 2009, are struggling to keep up performance amid the volatile market environment, particularly in August 2011.

The AsiaHedge league tables show that one of the best-performing event-driven funds during the month was the Orvent Fund, which reported a 0.19% gain.

One of the worst was Gemini China Opportunity Fund, which delivered a -11.57% return. The fund invests in the Greater China markets, including H-shares, B-shares, ETFs and initial public offerings including small, medium and large-cap shares in Hong Kong, Shenzhen and Shanghai.

Kima Capital’s Pan-Asia Offshore Fund, meanwhile,