Prime Insights and Analytics Chart Pack Asia Aug 2026 Marquee

Prime Insights & Analytics Chart Pack - Asia August 2026

Himanshu Deshmukh Prime Services Strategies

Marco Laicini, PhD Prime Services Strategies

Kartik Singhal Prime Services Strategies

Prepared by Prime Brokerage. In evaluating this material, you should know that it could have been previously provided to other clients and/or internal Goldman Sachs personnel, who could have already acted on it. The views or ideas expressed here are those of the desk and/or author only and are not an official view of Goldman Sachs; others at Goldman Sachs may have opinions or may express views that are contrary to those herein. This material is not independent advice and is not a product of Global Investment Research. This material is a solicitation of derivatives business generally, only for the purposes of, and to the extent it would otherwise be subject to, CFTC Regulations 1.71 and 23.605.

• Performance for Fundamental L/S managers in the region remained rangebound so far in August after the sharp July drawdown.

• Asia focused Fundamental L/S managers are down 1.0% MTD August (vs. MXAP +0.4%). Partial recovery in the first 2 weeks was reversed in the drawdowns this week. YTD returns continue to remain robust at 21.3%, with dispersion levels remaining elevated. The Simple average YTD estimate is at 14.2%, while the median estimate is notably lower at 3.6%.

• China focused Fundamental LS managers are down 1.8% MTD, with YTD now at 25.2%. Similar to the broader Asia managers, dispersion in this segment remains considerable and returns are driven by investments in the AI space.

• Japan focused managers down 0.4% MTD, with YTD now at 11.7%.

• Global Fundamental LS managers up 0.9% MTD, +14.1% YTD. Global Systematics up 1.9% MTD, +15.2% YTD. Positioning and Flows

• The Global Prime book experienced net flat flows MTD, with long sales being offset by short covers. Asia saw net buying flows, offset by selling in North America and Europe.

• After record net selling flows in July, Asian equities continue to see net selling MTD but at a reduced pace. Long sales dominated outflows. Flows remained rangebound in the first two weeks of the month before an uptick in selling this week. Both Developed and Emerging Markets saw moderate net selling flows with risk off activity.

• Korea and Japan led the selling flows MTD, followed by Taiwan amid continued unwinding in the AI theme. China partially offset the selling with net buying flows. De-grossing was led by Japan and China, with smaller contributions from Korea.

• Buying in Chinese equities picked up MTD. Short covers exceeded long sales with risk off flows. A-shares and H-shares led the buying flows, while de-grossing was led by A- shares. Pace of de-grossing reduced vs. July. Net allocation to China improved slightly but remained close to 5-year lows.

• Japanese equities continued to see net selling MTD following two consecutive months of record selling. Long sales dominated and we continue to see risk off flows. Macro products led the selling over single stocks, but de-grossing was dominated by singles.

• MTD selling in Taiwan saw approximately equal contributions from long and short sales, with net allocation flat at 6.2% and gross allocation seeing a marginal increase to 4.3%. In Korea, long sales exceeded short sales 1.5 to 1. The market is the most net sold market YTD. Net allocation declined to 4.2% (55th percentile 1-year, 91st percentile 5-year). The recent peak in June was ~8%, while the level at the start of the year was at 2.5%.

• Allocations to Asia remained rangebound MTD after steep declines in July. The net allocation to Asia in the Global Prime book ended at 28.5%, representing an 11.7% overweight compared to MSCI World benchmark.

• 8/11 sectors were net sold so far this month. Info Tech continued to lead the selling flows, followed by Consumer Discretionary and Materials. Industrials, Cons Staples and Utilities were the most net bought sectors. GS Performance Estimate calculation - The proprietary performance estimates represent weighted averages of fund performance derived from aggregated Goldman Sachs Prime Services client cash, equity, synthetic, index and equity options positions for…