Alternative Market Briefing

Galloway Global Emerging Markets High Yield Fund up 12.76% YTD as at end November

Tuesday, December 11, 2012

From Komfie Manalo, Opalesque Asia:

Emerging markets investment boutique focused on active fixed income high yield strategies Galloway Global Emerging Markets Fixed Income Fund, managed by Galloway Capital Management, closed November up 12.76 year-to-date (-0.67% last month). Since inception in May 2009, the fund was up 52.46%.

The fund actually opened 2012 on a strong note and closed January up 5.40%, its strongest monthly finish this year. The fund was down -0.17% in March and -4.41% in May. The rest of the year, Galloway Global Emerging fund was on positive territory, 2,09% in February, 0.87% in April, 3.43% in June, 2.55% in July, 1.38% in August, 1.78% September, and 0.15% October in October.

In its Galloway Capital Management, monthly report to its investors, Galloway said the firm increased its allocation to Mexico from 14.5% to 17.8% this December, bringing it to the top of their country breakdown list.

The report added, "It’s worth mentioning Grupo Kuo, which tendered its 2017 notes and issued a new 2022, taking advantage of the liquidity in international markets and the general positive expectations (which we share) for the Mexican economy; it followed issuances by two other Mexican chemical companies, Mexichem and Alpek. Kuo now has three main operating divisions—chemicals, consumer goods, and automotive. Its chemical division contribu......................

To view our full article Click here

Article link