Singapore $330 Million Hedge Fund Asia Genesis Asset Management to Close Macro Fund & Exited All Positions on 18th January 2024 after Wrong Bets on China, Hong Kong & Japan Stocks Resulting in Big Losses, Asia Genesis Macro Fund Decreased -18.8% in Early January 2024, Chief Investment Officer Chua Soon Hock Remarked Loss of Confidence as a Trader in Letter to Investors
24th January 2024 | Hong Kong
Singapore $330 million hedge fund Asia Genesis Asset Management is closing its Macro fund and exited all positions on 18th January 2024 after wrong bets on China, Hong Kong & Japan stocks resulting in big losses, with Asia Genesis Macro Fund decreasing -18.8% in early January 2024. Asia Genesis Macro Fund Chief Investment Officer Chua Soon Hock remarked a loss of confidence as a trader in his letter to investors. The Asia Genesis Macro Fund is an Asia-focused “all-weather” global macro fund (like its predecessor, Japan Macro Fund). The Fund deploys similar active, nimble trading approach which enables it to achieve consistent positive returns with low downside volatility, across different market cycles and macro environments, as demonstrated by our track record. The Fund trades the most liquid exchange-listed products which enable optimal liquidity, transparency, pricing accuracy and eliminates counterparty risk. Asia Genesis – Asia Genesis Asset Management is a Singapore-based, Asia-focused, hedge fund firm, led by Chua Soon Hock, Founder and CIO, and industry veterans, James Loh and Ronnie Wu, as non-executive advisors. Soon Hock has 39 years of experience in fund management and trading while James Loh is a leading figure in Asia Pacific banking and treasury business where he held senior roles in UBS and Barclays and Ronnie Wu is a pioneer in the Asian fund-of-hedge funds industry. Soon Hock founded Asia Genesis in 1999 and was the CIO of its flagship fund, Japan Macro Fund, an Asia-focused, global macro fund which returned +18.7% net annually with low downside volatility since its inception in March 2000 till 2009. The US$800 million fund at that time was consistently ranked the top performing Macro Hedge Fund globally, by BarclayHedge, on a risk-adjusted basis for several consecutive years, through bull, bear and range markets, achieving +11.0% and +23.7% net in 2008 and 2009 respectively. Chua Soon Hock is the CIO of Asia Genesis Macro Fund. More info below:
“ Singapore $330 Million Hedge Fund Asia Genesis Asset Management to Close Macro Fund & Exited All Positions on 18th January 2024 after Wrong Bets on China, Hong Kong & Japan Stocks Resulting in Big Losses, Asia Genesis Macro Fund Decreased -18.8% in Early January 2024, Chief Investment Officer Chua Soon Hock Remarked Loss of Confidence as a Trader in Letter to Investors “
Singapore $330 Million Hedge Fund Asia Genesis Asset Management to Close Macro Fund & Exited All Positions on 18th January 2024 after Wrong Bets on China, Hong Kong & Japan Stocks Resulting in Big Losses
Chua Soon Hock, CIO of Asia Genesis Macro Fund
Soon Hock has 39 years of experience in fund management and proprietary trading. He founded Asia Genesis Asset Management in 1999. He was the CIO and key trader for its flagship fund, Japan Macro Fund, an Asia-focused, macro hedge fund where he achieved steady strong returns consistently. Japan Macro Fund was amongst the few top performing Asian macro hedge funds with a long-established track record since March 2000 till its closure in 2009. From 1983 to 1985, he was an investment officer (Japan portfolio) in the International Department (Foreign Reserves Management) of the Monetary Authority of Singapore. From 1985 to 1988, he was Vice President, Fixed Income – Sales & Trading at Salomon Brothers Asia Limited, Tokyo. From 1988 to 1994, he was the interest rate trading manager and proprietary trader at Bankers Trust, Singapore, and later as a SIMEX local. In 1997, he became the Managing Director of Koch Capital Asia Limited. In 1998, he was the Chief Strategist and Head of Interest Rates and Arbitrage Trading at Sanwa Bank Limited, Singapore.
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