Despite the MSCI Japan Index slumping 12% on Monday, Japanese equities in the Goldman prime book were only marginally net sold, indicating that hedge funds weren’t behind the selling flows, it said.
Japan-focused hedge funds erased their losses from Monday’s trading turmoil, posting their best ever single-day performance, according to Goldman Sachs.
The Japan manager group rose 3.6% intraday on Tuesday amid a global market rebound, reversing the setback seen a day before when such funds saw their largest single day drawdown, data compiled by Goldman’s prime brokerage showed in a report.
