Hong Kong-based hedge fund firms Myriad Asset Management and Azentus Capital Management reached special milestones last year.
International Business Times reported that Myriad Asset and Azentus Capital both reported their highest annual returns since inception. Myriad’s opportunities fund returned about 20% in 2013, while Azentus’ Asia-focused global multi-strategy fund saw a 16.4% return for the same period.
The article added that long and short trades in Japan were major contributors to Azentus’ success last year, while investments in the world's third-largest economy may have contributed as much as half of Myriad's profits during the 12 months.
Myriad, which started trading in December 2011, gained about 7% in 2012. Azentus returned just 1% in 2012, and lost 6/8% in 2011--the year it started trading.