Asia Hedge Funds Skirt Reddit Rout as China-focused Firms Post Gains
- Asia funds on average outperformed global peers, Goldman says
- WT, Snow Lake among those that lost money in January
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Asia hedge funds largely avoided the Reddit turmoil that hammered some global peers last month, with many posting gains led by LyGH Capital and Pinpoint Asset Management. Snow Lake Capital and WT Asset suffered losses.
Asia managers that bet on rising and falling stocks using fundamental analysis were little changed in January, while those focused on China managed a 1.2% rise, according to a Goldman Sachs Group Inc. note to clients. That compared with the 5.9% average loss by global funds, Goldman said.