In July, multi-strategy hedge funds in Asia experienced significant drawdowns due to a sharp sell-off in AI concept stocks.

According to sources close to relevant funds, due to a severe sell-off of artificial intelligence concept stocks in Japan and South Korea, some large multi-strategy funds in Asia experienced their largest drawdown of the year in July, erasing some of the gains accumulated in the first half of the year. However, the performance of these multi-strategy funds still outperformed the overall industry. Goldman Sachs estimates that Asian hedge funds focused on stock-picking strategies fell by an average of 15.2% in July, marking the largest monthly decline on record.