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Asian hedge funds down in Dec, capping 2011 slump
January 18, 2012 / 10:41 AM / 6 years ago

Asian hedge funds down in Dec, capping 2011 slump

HONG KONG (Reuters) - Asian hedge funds tumbled 1.09 percent in December, further depressing returns in 2011, the industry’s first negative year in the region since the 2008 financial crisis, figures showed on Wednesday.

Performance in Asia ex-Japan last year tumbled 12.7 percent, compared with a decline of 6.46 percent in Europe, a drop of 1.27 percent in Japan and a 0.97 percent fall in North America, research firm Eurekahedge said in a report.

Latin American hedge funds posted gains of 2.39 percent last year, buoyed by high interest rates in Brazil, the report said.

The Eurekahedge Hedge Fund Index, which measures returns globally, dropped 4.15 percent for the year, the second-worst return since it was launched in 2000.

Some of the most prominent names in the global industry stumbled in 2011, with John Paulson losing more than half of the capital in one of his firm’s biggest funds last year.

In Asia, high-profile firms also faced a tough time. Former Goldman Sachs Group Inc (GS.N) trader Morgan Sze -- whose fund was the biggest launched in the region in 2011 -- lost 6.8 percent last year.

Reporting by Elzio Barreto; Editing by Chris Lewis

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