Sunday, 29 November 2015
Last updated 1 day ago
Nov 11 2008 | 4:41am ET
Another Asia-focused hedge fund has bit the dust.
The APAC Greater China Fund is closing its doors after consulting with investors, Reuters reports. The Hong Kong-based fund, which once managed as much as US$55 million, was down to just $10 million in assets, and had suffered investment losses of almost 16% through September.
“It was basically a decision reflecting our and our investors’ view of the market in terms of opportunity out there in the short-term, and also in terms of what we see as probable fund raising prospects for smaller funds like ours,” manager Ken Lu told Reuters. “Through September, we’d been talking to our remaining investors and everybody felt it was probably better not to try to basically tough it out.”
Even amidst the terrible returns around the world for hedge funds, Asian funds stand out as having a particularly awful year. According to Hedge Fund Research, the average fund in the region is down by about one-third this year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…