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Singapore-based Asia Genesis Asset Management will be launching a dollar denominated Asia Genesis Asian Equity Fund in early 2009 to take advantage of the exceptional timing opportunities to invest in bombed out Asian stocks due to the fallout from the current global credit and banking crisis.
The main focus will be China related Hong Kong stocks initially, as China will likely be the first market and key economy to turnaround from the current crisis, leading the Asian markets.
CIO Chua Soon Hock sees long-term Asian stock opportunities are excellent for years ahead given the trend of increasing consumerism, favorable demographics, dynamic entrepreneurship, gigantic foreign reserves, high household savings, well-capitalized banks, low gearing of consumers and higher market volatility.
The Fund aims to take full advantage of bull markets like a mutual stock fund while applying the firm’s derivatives trading expertise on the hedging side for bear phases. The firm will invest US$10mln, a significant portion of its cash, and try to raise US$90mln from institutional investors at the early stage. Robin Yeoh will be the stock portfolio manager.
Some unique features of the Fund include eliminating prime broker hypothecation risk, no shorting of individual stocks, no net leverage, 2% management fee paid at end of year and a lower 10% performance fee with high watermark. Currently Asia Genesis manages Japan Macro Fund, an Asian focused macro fund that ...................... To view our full article Click here
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