Hedge Funds

Volatility results in huge dispersion for Asian equity funds, says GFIA

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Managers of Asia-focused equity long/short hedge funds run very diverse portfolios, resulting in a wide dispersion of returns, according to Singapore-based consultancy firm GFIA.

A newly released GFIA study on the gross and net exposures of Asian equity long/short strategies calculated that the difference between the maximum and minimum gross exposures ran by managers reached a high of 320% in June 2007.

The research also showed that in the five largest monthly market moves over the last three years, the average performance difference in the month of June between the 25th and 75th percentile manager return was 8%, and the