The choppy markets put Asia’s hedge funds to the test. A Nasdaq gauge with heavy exposure to Chinese technology firms has slumped nearly 67% since a February 2021 peak, as the regulatory crackdowns and geopolitical tensions spooked investors.
Some of Asia’s biggest funds more than doubled their positions in Alibaba Group Holding Ltd. and Sea Ltd. in the second quarter after a yearlong rout.
The number of Alibaba shares held by the Asia-focused funds increased 311% during the period, while that of Sea jumped by 110%. That’s based on the analysis of the 13F filings of 15 Asian asset managers – including hedge funds Aspex Management (HK) Ltd. and Oasis Management Co. – that had at least US$200 million ($278.18 million) in quarter-end holdings.
