Greater China-focused hedge funds were up 2.20% in August, beating the market while Shanghai Shenzhen CSI 300 Index declined 4.45% during the month, according to date released by hedge fund research firm Eurekahedge.
Performance was driven by rising financial stocks, the development surrounding the Shenzhen-Hong Kong Stock Connect program, and better-than-expected earnings report of Chinese companies.
On a year-to-date basis, China mandated hedge funds were down 2.25%, outperforming the CSI 300 Index, which dropped 13% for the year.
Returns of Chinese hedge fund managers led to Asia ex-Japan funds posting the best numbers among all regional hedge fund indexes, as the Asian index went up 1.24% in August.
European hedge fund managers were up 0.55%, followed by North American managers, ...
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