26 May 2010 - Performance Report: Kima Capital Pan Asian Fund

By: Australian Fund Monitors

Report Date	25 May 2010
Manager	Kima Capital
Fund Name	Kima Capital Pan Asian Fund
Strategy	Equity Long/Short
Latest Return Date	April 2010
Latest Return	1.41%
Latest 6 Months	3.47%
Latest 12 Months
Latest 24 Months
Annualised Since Inception	19.21%
Inception Date	01 July 2009
FUM (millions)	AU$5
Fund Overview	Kima Capital Management is a Long / Short Pan Asian fund trading in liquid names. The fund aims to generate minimum investment returns of 12-18% pa with a conservative, low volatility approach using in house proprietary software tools.
Manager Comments	Kima Capital's Pan Asian Fund finished the month up +1.41% after taking advantage of low volatility and several markets making new highs for the year early in April, generating opportunities in the event space. One of these was the newly merged Nippon Mining and Nippon Oil, JX Holdings, which was strongly re-rated after relisting. Also profitable was the expected sale of Woori Finance by KDIC. The manager retains a cautious stance, reducing the fund's gross and net exposure, whilst still seeing some good opportunities in the Arbitrage space.
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