1-Apac Greater China hedge fund who once managed $55 billion is closing its doors. Dr. Ken Lu confirmed today the decision was made to pull the plug after 16% losses this month and assets diminishing to under $10 million.
Very bearish asian stock market returns have been pounding China focused hedge funds this year with more fund closings than openings this year. This is a sharp reversal from last year when almost twice as many hedge funds were opened as were closed.
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