Surviving The Storm

Macro woes took a toll on Asia-based hedge funds last year, but assets held steady.

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By Nick Rockel

THE WORLD WASN’T KIND TO VALUE PARTNERS in 2011. The Hong Kong–based investment firm, which focuses on Greater China, found that its contrarian stock-picking strategy offered little shelter from global market turbulence.

As of March 31, Value Partners’ assets under management had fallen more than 9 percent from a year earlier, to $7.8

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