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Hedge Funds See No Respite Ahead in Asia After Brutal Start

February 25, 2016 : Permanent Link

(Bloomberg)Hedge funds in Asia, which struggled with a brutal market selloff last month, don’t see a respite anytime soon.The $241 million Orchid China Master Fund extended January’s 11.2 percent decline to slump another 2.6 percent this month through Feb. 15 and is bracing for more market swings, according to a letter to investors. The $33 million Truston Falcon Asia Fund has reduced unhedged positions amid extreme volatility and an uncertain outlook, it said in an investor letter. Open Door Capital Group, which suffered a 23 percent loss in its $188 million A-share fund last month, said in a letter that China’s slower growth “cannot provide any positive support for the capital market.”

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