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From the Opalesque team:

The political violence in Thailand which saw more than 80 people killed and more than 1,000 injured, after the military launched a massive crackdown against those protesting for the United Front for Democracy against Dictatorship (UFDD) – also known as the red shirt group, which supports former Thai Prime Minister Thaksin - took a heavy toll on the Thai economy. The Thai Focused Equity Fund (TFE) lost 3.5% in April (12.2% YTD), while the SET (Stock Exchange of Thailand) index also fell 3.0% in USD terms (7.4% YTD).

This is compared to the Eurekahedge Asia ex-Japan Hedge Fund Index which was up 0.74% % in April (1.69% YTD). p> The fund’s April performance was a complete reverse from February when it returned 5.8%, despite the political turmoil in the region (See: Opalesque Exclusive: here). And the fund was up 16.2% in March (12.2% YTD).

However, Dough Barnett, fund manager of the Thai Focused Equity Fund Ltd., a single country open-ended offshore hedge fund with a strong long bias, said that despite the violent crackdown and clashes between the Thai army and the protesters, which started on May 20 and which saw foreigners bein......................

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