Funds of hedge funds in Asia look as if they may be having a better time than their counterparts in the rest of the world. Of course, “better” is a relative term. Life has still been pretty awful over the past six months for everyone, as panicked investors wanted their money back, in cash, as quickly as possible.
“2008 will go down in history as the worst year for hedge funds. Period,” says the Singapore-based hedge fund consultancy GFIA in its February newsletter to clients.
Funds of funds in Asia have underperformed the broader hedge fund indices for the region. But global funds of funds have underperformed global indices by a larger margin, according to returns data compiled by Eurekahedge in Singapore.
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