(Bloomberg) – Asian hedge funds narrowly avoided their first year of double-digit losses since the 2008 financial crisis after China’s sudden easing of Covid restrictions sparked a late market rally.

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Funds, including those from Aspex Management, Triata Capital, Yunqi Capital, and Brilliance Asset Management, have erased a significant portion, if not all, of their 2022 losses in the last two months of last year. A Eurekahedge Pte gauge of regional hedge fund returns…