Few prove immune to January market downturn


After a relatively quiet end to 2007, as the Absolute Return Composite Index finished up 0.42% for December, markets took a turn for the worse in January and most managers look to have been caught off guard.

In early January, Asian markets saw some of the biggest loses since 9/11, amid fears of an imminent U.S. recession and the impact on export-led Asia. This shock drop rippled through Europe and the U.S as managers tried to get a grip of falling prices and maintaining balances.

Many managers saw red ink scattered all over their portfolios as they tried to