Asia hedge funds 2010 gains wiped out after poor May-Eurekahedge

SINGAPORE, June 9 (Reuters) - Asia-focused hedge funds slipped into the red for 2010 after a poor performance in May, according to preliminary data from Eurekahedge.

The Singapore-based fund tracker said late on Tuesday its indices showed hedge funds focusing on Asia excluding Japan lost an average of 4.86 percent during the month of May, pushing total returns for 2010 to minus 3.15 percent.

Hedge funds around the world lost an average of 1.88 percent in May but are still up 1.3 percent from the end of last year.

Eurekahedge had estimated earlier that hedge funds with Asia ex-Japan mandates had assets of $105 billion at end 2009, or about 7 percent of global hedge fund assets of around $1.5 trillion. [ID:nSGE6440GZ]

Eurekahedge publishes a series of indices on a monthly basis, measuring the returns of hedge funds by region and investment strategy.

website: here Reporting by Kevin Lim; Editing by Valerie Lee