ChainCatcher report, according to Jin10, a Goldman Sachs report shows that Asian-focused equity hedge funds are experiencing their largest monthly drawdown on record due to widespread selling of AI-themed stocks, erasing most of the gains previously accumulated from heavy market bets on this sector. As of July 28, these funds declined an average of 18.6% this month. Goldman Sachs noted that since their year-to-date returns peaked at 40% on July 22, these funds have given back 21 percentage points of their year-to-date gains.
Goldman Sachs: Asia-focused hedge funds experience largest monthly drawdown on record
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Summary
Goldman Sachs reports that Asia-focused hedge funds are experiencing the worst monthly drawdown on record, with an average decline of 18.6% as of July 28. On-chain trading signals indicate a broad sell-off in AI-linked stocks, erasing 21 percentage points of year-to-date gains; these funds had peaked at 40% on July 22. Value investing in crypto remains a key strategy as market corrections intensify.
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