After the storm
While equity market volatility in the second quarter may not have caused lasting damage to the hedge fund sector in Asia, some firms are certainly nursing their wounds. Who suffered, who profited, and why? Joe Marsh reports
Global equity market turbulence in May and June saw many hedge funds suffer large losses from volatility trades. Perhaps the highest-profile losses globally were those of Amaranth Securities, a Connecticut-based hedge fund and a major dispersion trader. Following the spike, two traders - Todor Delev and MiaoDan Wu - left the firm. Reports say Amaranth had some very large equity volatility positions and had been unwinding equity correlation positions since May. Certainly, one Singapore-based
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