Wed, Nov 22, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Short book suppresses returns of some Asian managers – Part 2

Monday, July 07, 2014

Komfie Manalo, Opalesque Asia:

While majority of Asian hedge funds reported impressive returns in June, some of the managers saw their returns suppressed by losses on the short book, according to Singapore-based Asian hedge fund specialist GFIA.

The Monterey Japan Equity Fund inched 1.2% as most of the gains from long side was erased by losses from short side which also includes futures hedges. The APS Japan Alpha Fund returned 2.2% as two of their pharmaceutical portfolio companies recorded positive performance mounting expectations for higher earnings growth as a result of new products in pipeline. UMJ Kotoshiro maintained its positive streak with a 3.1% return as small and mid-caps position produced a considerable contribution on the long side.

GFIA noted, "UMJ’s short positions on biotechnology-related names have shifted to negative amidst the short covering during May. This short covering in biotechnology and pharmaceutical names also dragged Four Season’s (-2.8%) portfolio into the negative territory. The portfolio manager expects Japanese retail stocks to face disappointments due to bad summer weather caused by El Nino event as well as consumers’ failure to catch up with continuing price hike."

Akito had their fourth flat month with a reported 0.3%. The fund’s loss accumulated due to loss cutting of some of their names which had lower liquidity in the current market. Also, their short positions were affec......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W