Solitude Capital Management was down 17.1% net for the first quarter. The long-biased fund invests only in Asia because its management sees the region as "the largest, fastest growing and most entrepreneurial economies." They expect Asia to drive global growth for decades, although they also said the equity markets remain very inefficient, especially in developing nations.
Q1 2020 hedge fund letters, conferences and more
Cheapest fund in its history
In their first-quarter letter to investors, which was reviewed by ValueWalk, SCM management said the only two positions that gained during the quarter were Sea Ltd and JOYY Inc.
They noted that the first quarter wasn't an ordinary quarter. They raised cash...
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