(Bloomberg) In a month when hedge funds globally registered their biggest drop in seven years, waning Chinese demand for luxury goods helped one Asian firm beat the odds. Optimas Capital Ltd. profited on bets that European luxury-goods companies would suffer as wealthy Chinese tightened their belts. The bearish bets amounted to about 10 percent of long and short investments in its $350 million Optimas Global Alpha Fund last month, Chief Investment Officer Thomas Wong said in Hong Kong. That helped the fund weather a brutal October, gaining 0.7 percent as broader hedge-fund returns fell almost 3 percent in their worst showing since September 2011.
Hedge Fund Up 16% This Year Bet on Luxury Appetite Falling
This entry was posted in Syndicated. Bookmark the permalink.