Hedge fund firms in the South Korean market are showing mixed performances with the spread of COVID-19 affecting the stock market for two months.
Timefolio Asset Management, one of the leaders of the market, is showing a deteriorating performance. It is currently running 20 hedge funds in total and 90 percent of the products are posting negative returns with The Agile Alternative Investment’s and The Unique Alternative Investment’s rates of return for this year standing at 0.65 percent and 0.05 percent, respectively.
Every fund is posting a double-digit loss when it comes to Billionfold Asset Management, which emerged as a dark horse last year. Likewise, Soorim Asset Management’s 22 multi-strategy hedge funds have lost more than 20 percent without exception since the beginning of this year.
On the other hand, White Whale Group Asset Management’s Special Opportunity 10 has posted a return of 22.43 percent since January 1 this year. Its rate of return reached 5.46 percent in February alone and its cumulative rate of return is 75.79 percent. The fund is characterized by pursuing an absolute return regardless of market situations by investing in various assets and employing diverse investment strategies.