Performance

Asia-Pacific funds

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Asian hedge funds have performed relatively well in better market conditions. April saw all categories achieving positive returns, but Asia ex-Japan and Australia lagged. The Bank of Bermuda AsiaHedge Index for Japan was up 1% in Yen terms, well ahead of the 1.77% drop in the Nikkei 225. Asia inc-Japan also outperformed its index, gaining 1.22% compared to a gain of only 0.92% for the MSCI Pacific free net. Comparatively, Asia ex-Japan gained only 1.11% against an increase of 5.45% for the MSCI Pacific free ex Japan. The Australian universe gained again this month 2.64%. However, it underperformed