(Bloomberg) As Asia was jolted awake to a violent sell-off in global markets, some money managers are girding for more carnage. The head of Australian money manager Magellan Financial Group Ltd. warned that the current bout of selling may be just a warm-up compared with what’s coming in an environment of rising inflation. One of the world’s top-performing macro hedge funds, Asia’s PruLev Global Macro Fund, is actively managing risk after starting to pare down stocks a few weeks ago. At Janus Henderson Investors in Singapore, a fund manager has boosted defensive stocks, while a Thai brokerage is asking clients to hold on to cash — for now.
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Hedge Fund Pares Stocks as Others Retreat in Violent Market Rout
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