Managers outperform on the down side


January took up where 2008 left off - another grim month in most of the region's leading markets. Yet Asia-Pacific hedge fund managers continue to outperform on the downside. Where the MSCI Pacific Free market benchmark dropped 7.45% in January, the AsiaHedge Composite Index dropped by just 0.8% on the month.

All of the leading strategies have performed well. Of the regional strategies, Asia excluding Japan was down 2.14% compared to -9.3% for the MSCI Pacific ex-Japan Index. Asia including Japan dropped 1.63%.

Of the single country strategies, Japan managers continue to outperform strongly. The Japan long/short median was down