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Alternative Market Briefing

Apac's Asia Pacific energy and metals fund finishes September up 33.9% (16.1% YTD) on strong mining prospect and Aussie dollar

Friday, October 15, 2010

From Precy Dumlao, Opalesque Asia:

The strengthening mining prospects and the appreciating Australian dollar pushed Melbourne-based Apac Asset Management's Asia Pacific Energy Metals and Minerals Fund (APEMM) to its strongest month ever in September with 33.9% gains (16.1% YTD).

The fund, which was incepted in October 2009, has consistently performed after posting its first positive returns in March this year with 11.07% gains (See Opalesque Exclusive: here). The fund's NAV stood at US$ 111.77 as the end of September.

In his September monthly report to investors, Apac's Director Pieter van Putten also credited a couple of stocks "which saw outright performance explosions" that resulted to the remarkable fund's performance last month, citing "the explosive performance" of its Kasbah Tin project which doubled in value over the month.

Copper, tin, oil, gold "September is generally considered a weak month in equity markets but this year the U.S. S&P500 rose 8.8% (2.3% YTD), the strongest September since 1939 and one of the stronger monthly performances of the decade," van Putten wrote. "Base metal prices also strengthened in September as inventory levels continued their unseasonal declines. Copper, the benchmark metal, rose 10.5% to US$8053/tonne and tin, long almost a forgotten me......................

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