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Asian hedge funds below par

Asian hedge funds failed to deliver on their promise of absolute performance so far this year with only Asian macro funds managing to turn in a positive performance, up more than 6 per cent.

But they have outperformed regional stock markets, with the group down 6.2 per cent for the year to November, according to data from Deutsche Bank, compared with a 17.2 per cent drop in the FTSE Asia Pacific index over the same period.

Event-driven hedge funds, which took advantage of reverse takeovers or the taking private of companies such as Harbin Electric also fared relatively well, losing only 1 per cent.

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