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From Komfie Manalo, Opalesque Asia:
Singapore-based hedge fund consulting firm GFIA said that its recent study shows that Asia-based fund managers, particularly macro/multi-strategy funds have outperformed their non-Asia based peers. Also, its April Insights, GFIA said that Asia based managers generally had smaller losses last year with shorter drawdown periods, compared to their non-Asia based peers.
GFIA analyzed the most recent drawdown for each strategy group, comprised of 891 funds drawn from the total which reported to the AsiaHedge database since its inception in 2001. In the interests of relevance and timeliness, the study narrowed its focus to the ten-year period spanning April 2002 to March 2012 for overall performance and risk-return analysis dates from January 2005, the beginning of the last sustained bull market.
According to the research, collectively, four out of six groups of Asia-based managers outperformed as single country strategies captured more upside on the ground than broader regional ones. This clearly demonstrates the presence of home field advantage of having local market knowledge, relationship and on-the ground due diligence in emerging markets such as China and India.
However, GFIA also found that non-Asia based macro/multi-strategy funds, and more surprisingly, Asian equity funds, both posted higher returns than their Asia based counterparts. Although the effect of locations...................... To view our full article Click here
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