Asia leads hedge fund peers in April rebound, Morgan Stanley says

مورجان ستانلي

Morgan Stanley

MS

0.00

By Summer Zhen

- Asian hedge funds outperformed their global peers in April amid a global market rebound following signs of easing tensions in the Middle East, Morgan Stanley said in a note.

  • Hedge funds that mainly invest in Asia posted a 6.8% gain for the month through April 24, compared with an average gain of 3.8% among global hedge funds, according to a Morgan Stanley note sent to clients this week, which was seen by Reuters on Thursday.

  • Asian hedge funds emerged as the best performers on both a month-to-date and year-to-date basis, the bank said.

  • U.S. hedge funds gained 3.9% in April through April 24, while European hedge funds gained 2.4% over the same period.

  • For the year, Asian hedge funds were up 8.9% through the end of last week.

  • The MSCI World Index .MIWO00000PUS gained 4.6% for the same period.

  • Taiwan attracted the most inflows from Asian hedge funds last week, followed by Japan.

  • These funds sold China and South Korea modestly last week.

  • The selling in China was largely driven by cuts in exposure to U.S.-listed Chinese internet firms, the note said.