K2 Asset Management's Peak Asian Absolute Return Fund ended January down -4.95%, while the K2 Asian Absolute Return Fund was down -3.32%.
These results reflect the poor performance of Asian markets during January, with Hong Kong-listed China stocks down -9.6%, and the Hong Kong and Taiwanese markets down -7.7% and -7.5% respectively. Given the ongoing volatility in Asian markets the manager reduced net exposure for both Funds in January, particularly in Hong Kong, China and Australia, although exposure to Singapore was increased, after it recorded a gain of +0.6% in January.
K2's other funds, the Australian Absolute Return Fund and the Select International Absolute Return Fund, were down -1.65% and -3.09% respectively in January.
