HEDGE FLOW JAPAN-FOCUSED HEDGE FUNDS DROP 3.7%, BIGGEST DAILY LOSS IN GOLDMAN SACHS' RECORDS

Japan-focused hedge funds face the steepest daily performance losses on Goldman Sachs' records, the bank said in a note on Monday, following a global stock rout sparked by a soft U.S. jobs announcement and last week's Bank of Japan rate hike. Monday's 12% slide in Japanese stocks led to "large performance" draw-downs for stock pickers trading on the fundamental values of company equities, said Goldman.

As of the Asia close, Japan-focused hedge fund managers were down 7.6% from the last three trading sessions. Monday's loss of 3.7% was the largest single daily performance decline in Goldman's records. These past three trading sessions erased the entire yearly gains for these hedge funds taking their performances tracked by the bank to flat, Goldman said.

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