Hong Kong

HEDGE funds in Asia, which navigated turbulent markets to post gains in 2015, had nowhere to hide in January. As global stocks, currencies, commodities and risky bonds were roiled in a renewed frenzy of selling in January, hedge funds including those from Quam Asset Management and Greenwoods Asset Management fell more than 10 per cent last month.

As a group, Asia-focused hedge funds declined 3.1 per cent, their worst start to a year since 2008, according to Singapore-based Eurekahedge Pte. About 81 per cent of hedge funds actively reporting to the Asia Long-Short Equities category had negative returns last month, according to the research firm.