Bloomberg – Omnix Multi-Strategy Fund, run by two former Lehman Brothers Holdings Inc. traders, returned 6 percent in May, when hedge funds globally posted the worst month since 2008, by placing more bearish than bullish bets.
The Asia-Pacific-focused fund’s net-short position, the difference between short and long investments, peaked at 50 percent of its almost $25 million assets under management in May, said Paul Penkett, 39, Omnix’s Hong Kong-based co-founder and chief investment officer. The Eurekahedge Asian Hedge Fund Index is estimated to have dropped 4.2 percent during the month.
