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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 | Despite the oil price volatility and festive holidays, December proved an active month for deal activity. The highlight was the mega merger between China CSR and China CNR, part of the SOE reform in China. The deal has been structured to eliminate competition between the two companies to create a domestic champion capable of competing internationally. The Fund profited from the announcement of the CSR/CNR merger as the Manager held the trade in expectation of CNR shareholders receiving premium in the deal (which actually translated to ~13%). The Manager continues to believe the SOE reform in China will be a major driving force for deals in 2015. |
| More Information | » View detailed profile of this fund |
