Asia Hedge Funds Avert Disaster on Scale of Financial Crisis With China’s Reopening
- Percentage of funds ending 2022 positive more than doubled
- Funds were heading for their second-worst year until October
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Asia hedge funds narrowly averted their first year of double-digit losses since the 2008 financial crisis after China’s sudden easing of Covid restrictions spurred a late market rally.
Funds including those run by Aspex Management, Triata Capital, Yunqi Capital and Brilliance Asset Management pared a significant portion, if not all, of their 2022 losses during the final two months of last year. A Eurekahedge Pte gauge of regional hedge fund returns finished the year down 8.4%, after losses exceeding 13% through the end of October put it on course for the second-ever annual double-digit decline.