Emerging Asia-focused hedge funds are on course to record their worst annual returns since the global financial crisis of 2008 after posting big losses in September, according to a report by the International Business Times.
The report cites information from data provider HFR as showing that the HFRI Asia ex-Japan Index slumped 7.7% in September, the worst single month performance since March 2020. Q3 performance cams in at -10.4%, compared with a 4% decline in the previous quarter.
The index is down 22.8% in the first nine months of the year, its biggest decline since a 26.4% fall over the same period back in 2008. September losses were led by China managers with the HFRI China Index down 8.5%, while the Hong Kong’s Hang Seng Index hit an 11-year low in September chalking up a 13.7% loss for the month. The Shanghai Composite Index, meanwhile, fell 5.5%, while MSCI China’s index declined 9.7%.
