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From the Opalesque Team: Hong Kong-based Greenwood Asset Management announced that, as of Dec 29, the MTD return of the Golden China Fund was 13.43% and the Golden China Plus Master Fund returned 13.47%, compared to the following indices: H Share index 8.19% MSCI China Index 9.17% Shenzhen B Share Index 7.12% Shanghai B Share Index 4.68%

A new share class under Golden China Plus Greenwood’s partner Ted Chen and executive director Joseph Zeng confirmed they were actively developing new business to prepare for the come-back of Chinese equities. They are also looking into launching a new class under their Golden China Plus Fund which they would offer to new and existing investors of the Fund.

Key terms of the new class potentially include that it be subject to a lock-up period (two years), a hurdle rate of return (likely over 15%) during the lock-up period, lower management fee (around 1.0% per annum), and a 20% performance fee (charged on the performance if it exceeds the hurdle rate). The new class will not be subject to the side pocket of the Fund, and its portfolio should be the same of the Fund’s.

The key driver behind this idea is the incredibly low valuation of Chinese equities that have been driven......................

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