After practically printing money the past 13 months, Asia hedge funds racked up losses in June, according to Bloomberg.
The Eurekahedge Asian Hedge Fund Index reportedly fell 1.3 percent last month, its first since April last year as China’s equity rout decimated a large chunk of its players.
Apparently, only around 35% of Credit Suisse’s hedge fund clients made money in June, with China-focused funds being the hardest hit.
Among the slaughtered were Pine River Capital Management’s Dan Li, who saw his $1.3 billion Pine River China Fund slip over 4%, and Myriad Asset Management’s Carl Huttenlocher, who watched his $4 billion flagship fund dip 3.6%.
It wasn’t all losses though, Owl Creek Asset Management’s $600 million Asia fund posted 2.9% gains while everybody else got toast, and Hong Kong’s Nine Masts Capital managed to eke out 0.6% in June, ending the first half up 11.2%.
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