Wed, Oct 7, 2015
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. U.S. hedge funds prepare for worst finish this year since 2008[more]

    Komfie Manalo, Opalesque Asia: U.S.-focused hedge funds are preparing for their worst year since the 2008 global financial crisis, following a series of letdown including the market sell-off in August and the sell-off in healthcare and biotechnology sectors last month, reported

  2. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  3. DoubleLine’s Jeffrey Gundlach warns of another round of market shakedown[more]

    Komfie Manalo, Opalesque Asia: DoubleLine Capital co-founder Jeffrey Gundlach is painting a bleak future as he warned that the U.S. equity market and other risk markets, such as high-yield "junk" bonds, are facing another round of selling pressure. Gundlach said in an interview with

  4. A hedge fund strategy that seems to have fizzled[more]

    From The hedge fund strategy that has attracted the most money this year is on course to cause some of the biggest losses for investors, in the latest example of the dangers of going with the crowd. Institutions and individuals have piled an estimated $20 billion (Dh73 billion) into ma

  5. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i