Fri, Apr 27, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Foundation China Fund posts gains in July

Tuesday, August 12, 2014

Bailey McCann, Opalesque New York:

Foundation China Fund, the flagship vehicle of Hong Kong-based Foundation Asset Management reported positive net of fees gains of 5.7% for July, according to performance information obtained by Opalesque. The vehicle slightly underperformed the MSCI China Index which returned 7.3% for the same period.

Foundation Asset Management is a value investor that relies on a long-biased absolute return equities strategy.

The Foundation China Fund invests primarily in securities issued by companies listed in Hong Kong, China, and Chinese companies listed elsewhere. Portfolio highlights included in the investor letter note investments in an internet media company, electrical appliance retailer, insurance company and a wind turbine company.

Investments within the portfolio are heavily weighted toward Hong Kong which represents 75.6% of invested companies. The US comes in second at 20.6%, Europe at 3.5%, and Asia at 2.5%.

Overall, the fund is up 6.5% year-to-date, despite posting negative returns in the first quarter. The fund is up 120.6% since its inception in 2007, compared to the MSCI China Index which returned 26.3% over the same period.

Chinese hedge funds are down as a cohort for the first half of the year, posting returns of -1.38% according to data from Eurekahedge. The MSCI Golden Dragon Index, which captures the equity market performance of large and mid-cap China securities and non-domestic China securities listed in Hong K......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its