Asian hedge funds see $1 billion in net outflows

Asia ex-Japan hedge funds saw $1 billion in net outflows last month, according to the latest Eurekahedge report, with most of the capital flight stemming from performance-based losses. Managers across all regions registered negative yields in May, but Asia ex-Japan funds were among the worst performers with a -3.9% loss. The region fell just behind Japan, which had the lowest returns, of about -4%. The negative yield in Asia translated into $900 million in performance-based loss…