Thursday, 27 October 2016
Last updated 29 min ago
Nov 14 2011 | 1:11pm ET
Asian hedge funds gave investors some hope in October in what has otherwise been a dismal year.
The average Asian hedge fund added 2.43%, which larger funds in the region outside of Japan did even better, rising 5.9%, according to Eurekahedge. It's the Asian industry's best start to a quarter in more than two years, and comes at a critical time, as investors mull whether to redeem in December.
Despite the October returns, most Asian hedge funds remain firmly in the red for 2011. The average fund lost 9% in the 12 months to September.
"Most Asian managers we speak to continue to be cautious and have preferred to take some pain on the upside rather than participate aggressively in the rally" in stock prices last month, AsiaHedge's Aradhna Dayal told Reuters.