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Opalesque Exclusive: China fund manager believes correction is near its end, fund recovers in April with 2.26% Benedicte Gravrand, Opalesque Geneva: After outperforming the bull market of 2007 by 51%, the APS China A Share fund was 14% ahead of the bear market in the first quarter of 2008, continuing its run of strong out-performance. APS’ managing director believes investors should invest in China now before the market turns around and explains why.

The end of the correction in the Chinese stock market is nigh Pieter van Putten, APS’ managing director told Opalesque in an email communication that the managers believed the correction in the Chinese stock market was likely to be nearing its end. “With the market P/E (on 2008 earnings) now below 20, valuations have become very reasonable, if not outright attractive, especially in the light of continued strong corporate earnings growth. On top of that, QFII quota is currently abundantly available, taking away the capacity constraints for investment in China which existed in the past. Once the market turns around and investors start reallocating funds to China again, this situation might change very rapidly. It is therefore important to be ahead of the investor crowd!”

Why invest in China Mr. van Putten further summarizes the main reasons for investing in a China fund:

• Chinese A share market has corrected in excess of 45% since it......................

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