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Asian hedge funds rebound in 2024 with double-digit gains



Asian hedge funds rebounded in 2024, with many posting double-digit gains as China’s stock market recovered, Japan’s equity rally surged, and managers capitalised on global opportunities. Funds from Aspex Management, Panview Capital, and CloudAlpha Capital returned over 35%, driven by AI-related and tech bets across various regions. Macro funds like Ocean Arete gained in the high teens. This marked the first time since 2020 that Asian hedge funds matched global averages, reversing losses from COVID-19, geopolitical tensions, and China’s regulatory crackdowns. The MSCI China Index rose 16% amid hopes for government stimulus, while Japan’s Topix gained 18%, fueled by AI and corporate reforms. Panview’s 41% return included a significant bet on AppLovin, whose shares soared over 700%, while RAYS Capital returned 80%, targeting lesser-known AI beneficiaries.


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