Feb
24
Hedge Funds See No Respite in Asia After Brutal Start to Year
By-
Orchid, Truston, Open Door see more market volatility ahead
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Staying above water is cause for celebration at one hedge fund
Hedge funds in Asia, which struggled with a brutal market selloff last month, don’t see a respite anytime soon.
The $241 million Orchid China Master Fund extended January’s 11.2 percent decline to slump another 2.6 percent this month through Feb. 15 and is bracing for more market swings, according to a letter to investors. The $33 million Truston Falcon Asia Fund has reduced unhedged positions amid extreme volatility and an uncertain outlook, it said in an investor letter. Open Door Capital Group, which suffered a 23 percent loss in its $188 million A-share fund last month, said in a letter that China’s slower growth “cannot provide any positive support for the capital market.”…
Hedge Funds See No Respite in Asia After Brutal Start to Year
