Hedge Fund That Apologized for China Losses Rebounds 17% in June
- Brilliance Flagship fund partially recoups losses this year
- The firm is among hedge funds hit by China’s stock rout
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Brilliance Asset Management’s hedge funds scored double-digit gains in June as Chinese stocks rebounded, partially recovering from a stretch of losses that led to an apology from the firm’s founder last year.
The flagship Brilliant Partners Fund surged 17% in June, narrowing the first-half loss to 14%, said two people with knowledge of the matter. The smaller Brilliance China Core Long Short Fund rose 21% during the month, reducing declines to 16% in the first six months, according to data collected by Bloomberg. Both outperformed the benchmark China stock index in the month.