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Alternative Market Briefing

Tiburon: China still makes sense - the come-back of Taiwan - Greater China Fund up 21.56% YoY

Wednesday, May 07, 2008

Benedicte Gravrand, Opalesque Geneva: “As many investors are ‘de-risking’ their portfolios, attitudes towards investing in China in particular are mainly negative,” Mr. Martyrossian, partner at London-based Tiburon Partners, said to Opalesque. “We have slightly different take on the market just at the moment and are seeing some great opportunities.”

About the fund Tiburon Tao Fund, a one-year old Greater China hedge fund, is managed by Jeff Coggshall who has 15 years Greater China investment experience with 6 year track record in both long/short and long only. The fund applies disciplined fundamental stock picking with valuations interpreted relative to change and flexible management of net exposure - the current net market exposure is 33.20%.

The fund, which manages $18m, aims to maximise absolute returns with moderate volatility by investing long and short in the securities of issuers in Greater China. It is mainly exposed in Taiwan, China / HK and Singapore in such sectors as financials, technology and consumer/Media.

Class A (US$) returned 2.69% in March, 6.23% YTD and 21.56% since inception. Whereas the Hang Seng China Enterprises Index recorded 12083.30 in March (-13.3%), a change of +25.7% over the last 12 months (Source) and the Eurekahedge Greater China Hedge Fund Index returned -5.04% in March (+7.0......................

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