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From Sagar Chakraverty, Opalesque Asia:
APS Asset Management (APS), a Singapore-based fund management firm, saw its APS Asia-Pacific Hedge Fund return +3.9% in March (11.1%YTD).
APS said: "In March most markets indices closed up for the month: S&P 500 +5.9%, Japan +9.6%, Asia Pacific ex-Japan +7.3% (MSCI Index)... US retail sales rose for a second consecutive month in February despite winter storms affecting large regions of the country. As we entered April, labor data revealed the largest employment gain in three years, adding to convictions of a US economic recovery."
The open-ended, Cayman-domiciled Fund was up 96.2% in 2009 and down 11.1% in 2008. It was incepted in March-02 and has returned 47.89% since inception till 31-March-10.
The portfolio's long positions were helped in March by structural changes and consolidation within China's healthcare system. The government is taking measures to improve medical services, reduce costs, and provide greater insurance coverage. Further, investments in the semi-conductor industry had better returns due to stronger-than-expected demands from the US, Europe and China.
However, the portfolio's short positions were hurt as share price strengthened on resilience in the Singapore property market and a recovery in property transaction volumes in China. They were also hurt by prospects for higher sales price for Malaysian palm oil producers due to rising crude oil prices.
As of March, the...................... To view our full article Click here
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