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Opalesque Exclusive: QBridge China Fund continues uptrend in Q2 (6.64% YTD) The QBridge NAV increased 1.0% (est.) in June 2008 driven by NPL recoveries totaling $3.4mm and offset by a write down of $0.7mm.

The write down is primarily on a key borrower in the manager’s Handan portfolio, of which the financial situation has deteriorated since the portfolio acquisition. The write down is consistent with the manager’s conservative approach in determining NAV.

QBridge China Fund is an open-ended fund, investing in distressed assets (including NPLs) and special situations in the Greater China Region and selected Asian countries. Website: Source

Sprott posts net income of C$11.4m ($11.1m), sticks to resource stocks From Bloomberg.com: Sprott Inc., the Canadian hedge-fund manager that posted a profit in its first quarter since becoming a publicly traded company, is sticking to its bets on resource stocks, founder Eric Sprott said.

Sprott, which raised C$200 million ($195 million) when it went public in May, said it will continue to own resource and mining stocks, while betting on declines in financial stocks. Sprott's four main funds have posted returns of between 13 percent and 28 percent this year, he said.

… Net income in the second quarter was C$11.4 million, or 8 cents a share, compared with a year-earlier loss of C$7.7 million, Toronto-based Sprott said today in a stat......................

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