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Opalesque Exclusive: Doug Barnett`s Thai fund hits new high after recovering August losses, Thailand confirms December election date
The Thai Focused Equity Fund (TFE) which started trading in October 1997, enjoyed a strong gain in September, recovering 92% of its August losses. As of Oct 3, the fund even reached a a new high according to an investor communication obtained by Opalesque. For September, the Fund gained 4.6%, while the SET index increased 4.1% in USD terms. For the year, the Fund has appreciated 42.0% versus a 28.7% gain for the SET.
In politics, the Thai cabinet underwent a reshuffle following the resignations of five ministers. The five ministers were deemed to have conflicts of interest, having held more than 5% stakes in listed and/or private companies, which is banned by the new Thai Constitution. Meanwhile, General Sonthi Boonyaratglin, former Commander-in-Chief of the Royal Thai Army and former head of the Council for National Security (CNS), was appointed Deputy Prime Minister in charge of National Security. In other news, General Surayud Chulanont, the Prime Minister, confirmed that general elections will be held on December 23rd, as planned. "After the election, we believe that a democratic government will help bring Thailand back into the international community and help restore both consumer and business confidence", said Barnett.
Amplitude quant fund returns 8.3% in September, YTD 24.93%
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