While more than a third of Asian funds were at least 30 per cent in the red in the first 10 months, that figure shrank to just under 7 per cent at year-end.
Asia hedge funds narrowly averted their first year of double-digit losses since the 2008 financial crisis after China’s sudden easing of COVID-19 restrictions spurred a late market rally.
Big names from liquor maker Kweichow Moutai to e-commerce giant Tencent Holdings extended climbs into 2023. Pictured: the Shanghai Hongqiao Railway Station.Chris Wang’s Yunqi Path Capital Master Fund rose 25 per cent in November and added another 12 per cent in December, finishing the year down just 1.7 per cent, said two people with knowledge of the matter. Hermes Li’s $US7.2 billion Aspex rebounded 7.4 per cent in the final quarter, cutting the full-year drop to 7.
Big names from liquor maker Kweichow Moutai to e-commerce giant Tencent Holdings extended climbs into 2023.The percentage of Asia-Pacific-focused hedge funds that made money in 2022 more than doubled in the last two months to nearly a third, according to data from Preqin. And while more than a third of Asian funds were at least 30 per cent in the red in the first 10 months, that figure shrank to just under 7 per cent at year-end.
Pinpoint’s China Fund trimmed its 2022 loss to about 13 per cent, after a 5.1 per cent November rebound, said Wong.
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