Fri, Feb 23, 2018
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. Opalesque Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  2. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  3. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac

  4. Low volatility funds fail to protect investors[more]

    From FT.com: A number of exchange traded funds (ETFs) designed to protect investors from sharp stock market gyrations lost more money than mainstream US stocks during a sell-off this month, underperforming in precisely the conditions in which they were meant to thrive. Low volatility ETFs, lau

  5. Legal - Hedge funds fight to save M&A arbitrage strategy, Fannie Mae and Freddie Mac ruling blow to hedge funds[more]

    Hedge funds fight to save M&A arbitrage strategy From FT.com: Hedge funds which use the US courts to wring higher prices for merger and acquisition deals are fighting to save the lucrative investment strategy, after a Delaware court ruling that threatens to shut it down. Verition Partner