|
|
From Benedicte Gravrand, Geneva:
Opalesque spoke to James Hay, co-owner and manager of Singapore-based Pangolin Investment Management, about the Pangolin Asia fund, an absolute-return, Asia focused fund. Mr. Hay has 20 years of experience in Asian markets, where he made his own investments in 1998 with extraordinary returns. The Pangolin Asian Fund has returned 53.68% (to April 07) since inception.
Wanted: investors who are not obsessed with liquidity
“We believe that in Asia, the market is inefficient and if you are prepared to invest in the long term, you will find a lot of bargains. If one is prepared to invest in small companies and find like-minded investors who are not obsessed with liquidity, then there are still a lot of cheap stocks. The pangolin is a jungle animal which looks under leaves for things to eat, and we like to think that we look under leaves for stocks to buy.”
Fundamental and research driven, a niche of a niche
“All markets are understood by fundamental analysis. But we don’t invest in the market, we really invest in individual companies. We have a bottom-up approach. Because we are a small fund, and we are not great believers in diversification, we are only invested in Singapore, Malaysia and Indonesia. There is plenty of value around in this part of the world. We sometimes take the macro-economic situation into account. For example we are not currently invested in Thaila...................... To view our full article Click here
|
|
RSS
