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China funds did pretty well in September
High-profile hedge funds like Pershing Square and Third Point may have been hammered in September, but according to China Money Network, their China-focused counterparts didn’t do too bad:
“Greater China-focused hedge funds gained 1.26% in September, compared with the CSI 300 Index, which was down 4.86%, and the global hedge fund index's 0.58% decline during the month, according to data released by industry data tracker Eurekahedge.
The gain compares with a decline of 6.55% in August for China-focused hedge funds. Asia ex-Japan was the best performing regional index during the month, up 0.67%.”
Unfortunately, a hulking 42% of them are still underwater, and yes, 1.26% doesn’t really make you go “hmmm,” but still, their performance has so far eclipsed those of their North American peers (-1.34%) as well as those of their South American rivals (-2%).
They still have a long way to go to beat their Australasian counterparts though; Aussie and Kiwi-focused funds apparently gained a whopping 7.37% in the same time frame, quite the hurdle to jump.
Photo: Charles LeBlanc