THE closure of the Asia Genesis Macro Fund by veteran fund manager Chua Soon Hock marks a stunning fall from grace. The fund’s strong double-digit return of more than 15 per cent in 2022 must have raised expectations that Chua could replicate the resounding success of his earlier fund, the Japan Macro Fund (JMF).
The pan-Asian JMF employed a similar global macro strategy. Over 10 years between 2000 and 2009, it achieved an annualised return of 18.7 per cent before Chua decided to exit on a high.
He set up the Asia Genesis Macro Fund in 2020 to provide investors with a vehicle for capital preservation and positive annual compounding. The desire to preserve capital underpinned the decision to shut...
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