In a month when the Nikkei 225 was down 4.67%, the Japan long/short universe managed to contain the damage, but fared less well in absolute terms, dropping 0.08% on the month. Asia including Japan fell by 1.50%, outperforming the MSCI Pacific free net index, which was down 3.07%.
However, the Asia ex-Japan universe fell 1.76% compared to the MSCI Pacific free ex-Japan index, which was up 1.04%. Australian funds performed well but, compared to their benchmark, they gained only 0.47% against a rise of 2.53% for the Australian All Ordinaries Index.
Bank of Bermuda AsiaHedge Index