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Hedge Fund Winners and Losers Turn Extreme in Wild Asian Markets

  • Franchise, Sylebra, Brilliance nursing more than 20% losses
  • Aspex, ARCM, Infini were among the year’s big winners

One of the wildest runs for Asian markets in recent memory helped drive the gap between the region’s hedge fund winners and losers to new extremes in 2021.

While Franchise Capital Management Ltd., Sylebra Capital Ltd. and Brilliance Asset Management Ltd. nursed losses exceeding 20% last year from China’s regulatory clampdown, global growth-stock corrections and short squeezes, others including Aspex Management (HK) Ltd. and Asia Research & Capital Management Ltd. scored gains of about 30%.