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Opalesque Exclusive: Update: Basis Pac-Rim Opportunity Fund performs negatively in February 2008, averages -55% last 12 months Opalesque received an investor communication on the estimated February performance of the Basis Pac-Rim Fund, run by Sydney-based Basis Capital. The Fund's Asian HY investments delivered a mild positive contribution in February amidst ongoing risk reduction, whilst its CDO investments continued to suffer from the ongoing market breakdown. The USD Class A fund returned -2.52% in February (est.) and -55.24% in the last 12 months. The other share classes returned a similar performance. Corporate website: Source

Monsoon Capital`s India funds blown by losses From emii.com: Monsoon Capital didn’t start the year off right and it is only getting worse. The Bethesda, Md.-based hedge fund, which has pinned its fortunes on Indian stocks, told investors that its Monsoon India Inflection Fund plummeted 28.3% as of March 20, and the month still had 10 days to go. That’s on top of the 17.6% it dropped in the first two months of 2008, for a whopping -45.9%.

The Monsoon Indian Inflection Fund 2 was almost as bad, plunging 26.8% through March and tumbling a total of 44.4% year to date. The losing ways reflect that of India’s Sensex Index, which is off 26% since Jan. 1, with more than half the losses coming this month… Full article:......................

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