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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 | While M&A activity slowed during July, the Fund focused on other emerging themes in the Asian event space. State owned enterprise (SOE) reforms out of China are driving asset injections and recapitalizations which will present unique trading opportunities ahead. The recently concluded reverse takeover of Citic Pacific is an example of how such reforms are being pursued by Chinese authorities. Another key emerging theme is increased focus on the JPX 400 index which benchmarks Japanese companies on operating metrics like ROE. This is incentivising and driving corporate activity in Japanese companies who wish to improve governance standards and hence valuations. |
| More Information | » View detailed profile of this fund |
