Aspex Management, the Hong Kong-based hedge fund firm founded by Hermes Li, notched up a return of over 11% in the first three months of the year in its Asia-focused fund – one of the region’s largest at $7bn – according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that unlike some of its rivals who generated returns from AI-related trades, Aspex made money from bets across a range of countries and industries, including some short wagers.
According to data from Eurekahedge, the fund’s Q1 gain was almost four times the average 3% return of its regional rivals, with its best monthly performance coming in March when to put on almost 8%.
