The Arnott Opportunities Fund, a Pan Asian Equity Long/Short fund, has finished 2008 with a positive performance of +0.38% for December, bringing the total return for 2008 to +1.84%.
The fund reduced exposure in December ahead of significant redemptions which saw Arnott's FUM fall by approximately 35% to US$535 million, all of which were expected to be paid before the end of January. The manager also flagged that 2009 would see a different outlook and implementation towards shorter term trading opportunities around stock specific events.
Arnott's redemption experience is in line with many other successful and positively performing funds as investors and Fund of Funds have reduced their exposure to managers with both good performance and liquidity to shore up poorly performing investments elsewhere.
