Playtpus Capital Management's Asian Equities Fund, which commenced investing in September 2008, was down -0.87% in December but up +1.42% for 2008. Over the same period the MSCI Pacific Index returned -29.31%.
The negative return in December was attributed to the fund's net short weighting, as well as stock specific issues, however assets under management increased during this period. The fund will continue with the short positioning of its portfolio given the ongoing downward trends in Asian markets.
Platypus' other fund, the Platypus Australian Long/Short Fund, also recorded a loss in December (-0.72%) and was down -7.20% in 2008. December was notable for the decrease in market volatility, however there was significant movement in individual stocks. The fund remains heavily invested in cash going into 2009, reflecting current market conditions.
