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October 29, 2006
Indian Hedge Funds Look Up
-- By Pushpa Sathish, Staff Writer
India is not known as a country celebrated for its hedge funds, but there are two in the nation that have made the top five among Asia’s best. India Capital Fund and Atyant Capital India Fund stood second and fourth in the list of best Asian performers with returns of 9.2 percent and 8.27 percent respectively, in the month of September.
These statistics are a result of research by global hedge fund tracking company Eureka Hedge, which claimed that Asian funds performed better than their American and European counterparts in September. Prodigal Absolute Return Fund, an Asian hedge fund, registered returns of 11.25 percent to take top spot in the list. Business Standard reports:
Traditionally, returns of hedge funds focusing on Asia tend to have greater market correlation than their counterparts in Europe and America. This is due to strong presence of long/short equity funds in Asia, most Of which tend to hold net-long positions, said the hedge fund tracking firm.
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