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Alternative Market Briefing

China-focused hedge funds post worst month in 16 years

Wednesday, September 02, 2015

Komfie Manalo, Opalesque Asia:

New data from Eurekahedge and Bloomberg show that China-focused hedge funds posted their worst performance in almost 16 years in August.

According to Bloomberg, some have reported huge losses. The $304m The Orchid China Master, managed by Hong Kong-based Orchid Asia Group Management, shed 7.3% last month while APS Asset Management’s Greater China Long/Short Fund fell 7.2% through August 28, and the APS China A Share Fund declined 5.5% as of Aug. 21.

Data provider Eurekahedge reported that its Greater China hedge funds had plunged an estimated 10% in August, which might be the biggest decline since January 2000. Mohammad Hassan, an analyst with Eurekahedge in Singapore commented, "Greater China hedge funds are on track to show the worst three month returns in at least a decade. It’s not a surprise given the funds’ limited ability to short the stock markets in China."

The Shanghai Composite Index dropped 12.5% in August after sliding 14% in July, the biggest two-month drop for the market since 2008.

Meanwhile, Chinese police are looking into the spreading of rumors about the stock market, Reuters said on Monday. Wang Xiaolu, a reporter for the Caijing business magazine......................

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