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Alternative Market Briefing

APS Greater China Alpha Fund down -5.7% in May (-6.3% YTD) on slowdown of China’s economic growth

Wednesday, June 15, 2011

From Precy Dumlao, Opalesque Asia:

China’s economic boom is slowing down indeed. This was reflected in the significant decline in China-focused hedge funds in May particularly the APS Greater China Alpha Fund, which was down -5.7% (-6.3% YTD) on investors’ concerns over the slowdown in economic growth amidst ongoing monetary tightening.

In its monthly report to investors Singapore-based fund management firm APS Asset Management Pte Ltd, which manages the fund, said it expected its position to pick up in the near term with the improving drought situation in China. But the managers expressed caution as the Hong Kong Monetary Authority warned of the possible withdrawal of hot money from the market.

The fund is one of APS’ five funds and it is domiciled in Dublin, Ireland.

China-focused funds generated strong inflows throughout 2010 with an estimated $3.5bn inflows or a rise of 25%, despite mediocre performance that year, said data provider HedgeFund.net.

But investors and hedge funds are losing faith in the China boom and instead are focusing on the dollar while maintaining their bullish outlook on oil, according to a recent study by Société Générale .

Finance and hedge funds managers who attended th......................

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