Hong Kong Fund APAC Calls It Quits

Nov 11 2008 | 5:41am 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.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of