Goldman Sachs: Asian Equity Hedge Funds Experience Largest Monthly Drawdown in History
ChainCatcher news, according to Golden Ten Data, a report from Goldman Sachs shows that stock hedge funds focused on Asian markets are experiencing the largest single-month drawdown on record, caused by a widespread sell-off of AI concept stocks that has erased most of the gains from previous concentrated bets on the sector. As of July 28, these funds have fallen by an average of 18.6% this month. Goldman Sachs noted that since the year-to-date return reached a peak of 40% on July 22, these funds have given back 21 percentage points of their year-to-date gains.
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