| Report Date | 20 February 2013 |
| Manager | PM CAPITAL |
| Fund Name | PM Capital Emerging Asia Fund |
| Strategy | Equity Long |
| Latest Return Date | January 2013 |
| Latest Return | 4.70% |
| Latest 6 Months | 22.01% |
| Latest 12 Months | 20.66% |
| Latest 24 Months | 10.67% |
| Annualised Since Inception | 18.15% |
| Inception Date | 01 July 2008 |
| FUM (millions) | AU$4 |
| Fund Overview | The Emerging Asia Fund is a focused portfolio where all of the portfolio positions are subject to intensive research and peer group review. PM Capital seek to invest where the greatest opportunities lie in the Emerging Asia region. That being said, the Fund may obtain exposure to companies listed on stock exchanges other than those in the Emerging Asia region, where the predominant business of such companies is conducted in that region and/or the companies benefit from exposure to the region. The Fund will hold between 15 and 35 stock specific ideas diversified across the Emerging Asia region. The Fund can invest in equities, interest bearing debt securities, derivatives and cash. |
| Manager Comments | The PM Capital Emerging Asia Fund delivered 4.7% during January and 20.7% for the previous 12 months, ahead of the MSCI Asia benchmark of 11.7%.
The fund recorded strong returns from its holdings in SJM Holdings, iProperty Group and Beijing Capital Intl Airport (BCIA). SJM was buoyed by a rebound in gaming revenues, especially from VIP business. BCIA was strong as a result of the removal of the 40% discount enjoyed by local airline operators on international flights. This provided a 12 to 13% boost to earnings.
The fund is running 17% cash and an exposure to the Hong Kong $ of 72% and has 14 holdings. |
| More Information | » View detailed profile of this fund |
