Aspect Management, about 16% loss in October... up 9% since the start of the year

Aspex Management, an Asia-focused equity hedge fund with $14 billion in assets under management, lost roughly 16% in October as the selloff in AI-related stocks spread across global markets, Reuters reported, citing an anonymous source familiar with the matter. The monthly decline ranks among the fund's largest on record, though its year-to-date return still stood at a 9% gain as of the end of October, with the monthly and cumulative figures covering different periods. The loss underscores how heavily Asia-focused managers have been exposed to the AI trade and the speed with which that positioning can reverse. Investors will watch whether the fund trims its AI-linked holdings and whether November flows and performance stabilize.