Asia-focused hedge funds fell 0.4 percent in August after five straight months of gains, pulled down by sharp declines in China, Hong Kong and Taiwan shares, hedge-fund tracker Eurekahedge said.
Japan hedge funds edged up 0.7 percent, North American funds rose 1.8 percent, Latin American funds gained 2.1 percent and European funds returned 2.6 percent, the Singapore-based firm said in a statement received on Wednesday.
Asian hedge funds have gained 13.1 percent since the start of the year, after a 20.3 percent drop in 2008, according to Eurekahedge, which said its estimates are based on preliminary data.
Eurekahedge publishes a series of indices on a monthly basis, measuring the returns of hedge funds by region and investment strategy. The firm has a database of over 8,000 hedge funds. (website: www.eurekahedge.com/indices/hedgefundindices.asp)
Eurekahedge also said in its statement that hedge funds globally attracted net inflows of $4.5 billion in August, with over 50 percent of funds tracked by the firm reporting new inflows from investors.
Globally, all hedge fund investment strategies showed positive returns in August, led by funds investing in distressed debt which returned 6.23 percent average, Eurekahedge said. The weakest performers were commodities trading advisers and managed futures funds, which returned 0.5 percent.