Fortress Asia Covers JPY Shorts, Bullish On Alibaba.com

Fortress Investment Group has done well in its Asian strategy, and the Fortress Asia Macro fund is up 12.8% through the first half of this year after adding a 0.8% return in last month, according to HSBC Hedge Weekly. Staying up in a period when most Asian emerging markets took a turn for the worse is impressive, and the fund was also up a brilliant 4.4% in May. The flagship Fortress Macro Fund Ltd is also up 13% in the first half of the year, but was down 0.5% in June. Fortress Asia up in forex trades, scales back short JPY ValueWalk obtained Fortress Asia’s May…