HONG KONG: Singapore-based Asia Genesis Asset Management is liquidating its hedge fund after a "significant and unprecedented drawdown" following missteps in Chinese and Japanese bets. The Asia Genesis Macro Fund lost 18.8 per cent in the first weeks of January, Chief Investment Officer Chua Soon Hock said in a letter to investors seen by Reuters. He said he decided to close the fund to prevent further loss and return money. Asia Genesis did not respond to a request for comment. A person close to the matter confirmed the decision.