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Alternative Market Briefing

Chinese hedge funds post steep decline in July

Friday, August 14, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds investing predominantly in China suffered steep losses in July, as the HFRI China Index declined -7.7% and the Shanghai Composite Index collapsed, falling over -14% in the month, including a single-day decline of -8.5%, data provider Hedge Fund Research said in a statement.

As a result of these performance losses, total capital invested in Asian hedge funds declined by an estimated $10 billion in July, this after rising to a record level of $126.3 billion to conclude the first half of 2015, according to the latest HFR Asian Hedge Fund Industry Report.

"Chinese financial markets have come under intense pressure, encompassing not only directional losses, but also liquidity, structural and political pressure, as Chinese equities have posted the sharpest declines since 2007," stated Kenneth J. Heinz, president of HFR.

Other areas of the Asian hedge fund industry were also impacted by losses centered on China. The HFRI EM: Asia ex-Japan Index fell -5.6% in July, lowering YTD performance to +4.5%, while the HFRI Japan Index posted a moderate decline of -0.2% for the month, reducing YTD performance to +8.8%.

Prior to the recent performance losses, Asian hedge funds had experienced net asset inflows of $1.74 billion in the second quarter of this year, the highest quarterly inflow since the first quarter of 2014. By investment str......................

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