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| Fund Overview | The Fund seeks to profit from trading securities which are primarily subject to corporate events or from trading-related securities which the Investment Manager believes are mispriced by the market. The Fund invests in securities that are listed on Asian stock markets and other markets where related securities may be listed and in securities which are listed on markets outside of Asia where more than 70% (by assets or earnings) of the underlying business originates from an Asian country. The Fund aims to generate consistently positive returns which have a low correlation to the Asian stock markets. The objective is to generate 10-20% pa with a standard deviation of 6-10% |
| Manager Comments | The performance of the underlying strategies was mixed during the month: M&A and Earnings Surprise contributed positively while Capital Management and Stubs trades detracted value. Positions in Japan and Thailand generated healthy profits for the Fund. During the month the Fund maintained an average net and gross exposure of 14% and 190% respectively. November's focus remained on China as details emerged of the reform package, while risk appetite in Japan remained healthy due to continued weakness in the Yen. Within the Capital Management strategy, spin offs is a key theme that we observe emerging in the Asian event landscape and it presents unique trading opportunities. |
| More Information | » View detailed profile of this fund |
