Asia-based investors in private client investment strategies may be wishing that they had simply invested in their local stock market this year. Pacific stock markets have outperformed all other regions and asset classes in 2004 so far. The Hang Seng and the MSCI Asia Pacific ex-Japan indices are both posting returns of over 6% year-to-date, compared to a return of under 3% from the MSCI World Index and under 2% from the Citigroup World Government bond index. Hedge funds, one of the best-performing and fastest growing asset classes in recent years, are down -0.55% as measured by the HFR Equal Weighted Strategies index.
No one likes to see their investments...
