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Alternative Market Briefing

Most Asia Pacific hedge funds generate substantial returns in June - Part 1

Thursday, July 03, 2014

Komfie Manalo, Opalesque Asia:

The majority of Asia Pacific hedge fund managers generated substantial returns above the index (as tracked by AsiaHedge Asia inc Japan 1.4%) in June, said Singapore-based Asian hedge funds specialist GFIA said. The outperformers in the month include stock pickers like New Harbour Asia (3.4%), NT Asia Discovery (3.4%) and Albizia ASEAN (2.6%) where the latter’s Thailand holdings actually benefitted from the coup.

Other Asian country specialists also benefitted from the region’s upward momentum last Month, GFIA said. Doric Small Caps (12.9%), in particular, is one of the few small cap managers with an active short book. The fund harvested handsome gains from their positive tactical stance in India as well as short positions in Australia, China and South Korea. Kelusa Asia (-6.4%) is one of the negative outliers in May as they had negative returns coming from both their long and short books. With a -6.6% generated from stock-picking, the rally in May was unable to buoy the fund above water.

"Political factors took center-stage in much of Asia in May," GFIA said in its monthly Research Insight. It went on to say, "In India, the election of Bharatiya Janata Party’s Modi was well-received by investors with many seeing a new era for the country if promised reforms take hold. Thailand saw the army declare martial law before staging a coup, while in Indonesia the focus remains on the impend......................

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