Asia-focused hedge funds – especially India and Japan strategies – continued their heavy slide last month, while emerging-market and global mandates made slight gains.
Demand for Myriad's second fund spurs launches as evidence shows more Asia-focused funds are managed in Asia. At the same time global macro's revival bodes well for Singapore.
China-focused hedge funds' strong July gains put them narrowly into the black for the year, while India strategies fell slightly last month as post-election euphoria waned.
China-focused hedge strategies posted the strongest gains last month, largely due to rebounding equity markets, as Japan funds continue to shine.
HFR data shows that Asian hedge funds lost money in 2011, both from the market and from investor redemptions.
Poor performance in the third quarter drags down regional hedge fund assets, according to the latest data.