Asian hedge funds held up better than their US and European counterparts in the market turmoil of July, with all of the Bank of Bermuda AsiaHedge indices still positive for the year.
The median fund in the Bank of Bermuda AsiaHedge Japan long/short index was down 1.19% in July against the Nikkei 250, which plunged 7%. For the year-to-end July the Japanese hedge fund index is still up 3.16%.
However, the best performing Asian index in the year-to-end July is still Asia ex. Japan, despite a fall of 2.46% in July. It is now up 4.29% for the year against the MSCI Pacific free ex Japan index which is down 4.73%.
Asia inc. Japan was down 1.91% in July taking it to 3.16% for the year against the MSCI Pacific free which was down 6.74% in July and is now slightly down for the year at 0.67%.
The worst performing Asian index is Australia long/short, which fell 3.3% in July and is now up just over 2% for the year.