Hedge Fund Returning 107% Sees More China, Emerging-Market Pain

  • Bakhramov fund gains 60% in August shorting Asian currencies
  • Macro managers drop 0.8% on average in 2015 after China slump

As hedge fund managers take a beating from the slowdown in China, Ray Bakhramov is flying high.

Bakhramov, the chief investment officer of the $100 million Forum Asset Management, said he’s been betting on an emerging-market slump since 2012. His conviction led to three years of losses of 10 percent to 20 percent in his Global Opportunity Fund.

Bakhramov finally got his wish in July and August, as did a handful of managers who made multi-year wagers that emerging-market stocks and currencies would begin to tumble, starting with a downturn in China. Forum’s main fund notched a 24 percent gain in July and jumped 60 percent the following month, fueled by short positions in the Chinese yuan and the Taiwanese and Singapore dollars, according to a letter to investors obtained by Bloomberg. All told, the fund has soared 107 percent this year through August…

Hedge Fund Returning 107% Sees More China, Emerging-Market Pain

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.