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Asia Hedge Funds Outperform Global Peers in August Rout
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Asian hedge funds beat global peers in August as Europe’s deepening sovereign debt crisis and Standard & Poor’s cut to the U.S. credit rating sparked the worst month for the industry in almost three years.
About 80 Asia-focused hedge funds reported an average 2 percent decline and median loss of 1.5 percent last month, according to data from Credit Suisse Group AG’s prime brokerage unit. Hedge funds worldwide lost on average 3.5 percent, the worst month since October 2008, according to Hedge Fund Research Inc.’s HFRX Global Hedge Fund Index.