Asia-focused hedge funds – especially India and Japan strategies – continued their heavy slide last month, while emerging-market and global mandates made slight gains.
But Hedge Fund Research Inc awards that dubious honour to Latin America funds. Either way, says GFIA, Asia-based hedge funds perform better than their Asia-focused peers outside the region.
In May, Asia hedge funds suffered their biggest drop since October 2008, according to both Eurekahedge and Hedge Fund Research. Adding to managers' woes globally have been liquidations and outflows.
The first quarter of 2010 saw net hedge fund withdrawals after two quarters of inflows, but the pace of fund closures is slowing, say industry specialists.