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Allen Sing Benedicte Gravrand, Opalesque Geneva:

The Asian markets have been on a roller coaster in the last year. The Hang Seng index is down 6% in the last twelve months, with highs around May and lows around August. The FTSE Straits Times Index is down almost 11%, with lows in August-September. And the Nikkei 225 went up 14%, with highs in May-August and lows in January and September.

Hedge funds suffered when China devalued the yuan in August, but have recovered since. The Eurekahedge Asia inc Japan Hedge Fund Index is up 5.57% YTD (to end Oct.), and the Eurekahedge Asia ex Japan Hedge Fund Index is up 6.73%. Asian hedge funds focused on China reported sharp gains in October with the HFRI China Index up 5.2% (5.25% YTD), as investor risk tolerance and market liquidity returned to Asian financial markets. The funds had lost -15.4% on average in Q3.

Allen Sing is co-head of Asia investments and portfolio manager at SAIL Advisors, a fund of hedge funds manager based in Hong Kong and New York. SAIL’s Asian Multi-Strategy Portfolio has a YTD performance of +7.23% (as of Sept. 30th). This month, he talked to Sona Blessing on Opalesque Radio about Asian markets and the opportunities they offer.

This year has bee......................

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