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Asian ex-Japan hedgies up over eight per cent YTD

Asian hedge funds continue to surge ahead as they attempt to eradicate last year’s losses. According to the latest figures released by Eurekahedge, Asia ex-Japan hedge funds gained 4.40 per cent last month on the back of 4.26 per cent in January, bringing their YTD performance up to a respectable 8.66 per cent: last year they lost -12.6 per cent. In addition, the asset weighted Mizuho-Eurekahedge Asia ex-Japan Hedge Fund Index is up 9.55 per cent YTD, illustrating that larger funds have outperformed over the first two months of 2012. Managers last month were able to make gains on the back of strengthening local currencies, as well as good performance in the consumer and industrial sectors. With M&A activity expected to be significant in 2012 due to a lot of deals failing to materialize amidst the whipsawing market conditions of last year it is perhaps no surprise that event-driven strategies have started the year with a bang: Asia ex-Japan managers in this space are up an incredible 19 per cent YTD based on preliminary figures of 13.99 per cent for February. Long/short equity managers gained 4.63 per cent last month, whilst fixed income managers recorded gains of 3.09 per cent. According to Hedge Fund Research, its HFRI Emerging Markets: Asia ex-Japan Index gained 5.21 per cent last month putting it at 10.54 per cent YTD. 

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