November returns upbeat for Asia Pacific
Hedge fund managers have something to smile about according to the November returns of The Bank of Bermuda AsiaHedge indices.
The Asia (excluding Japan) Index put on 4.2 per cent over the month resulting in a total return of 6.2 per cent for the year so far. Asia (including Japan) did almost as well (up 4.1 per cent) resulting in a 5.1 per cent gain for the year. Japan had another comparatively quiet month. Aside from March when the Japan Index put on more than 6 per cent, 2004 has seen comparatively thin pickings in this particular strategy.
The best market of the lot continues to be Australia, which has now put on nearly 18 per cent for the first 11 months of the year. November was the strongest month so far - up 3.2 per cent.
Overall November has put a much rosier hue on things, making the Asia-Pacific markets some of the most profitable, once again, to have invested in over the past year or so. That's if you are happy living with the uneven volatility that these markets tend to throw up.
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