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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......................

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