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From Precy Dumlao, Opalesque Asia:
The Thai Focused Equity Fund, a single country open-ended offshore hedge fund with a strong long bias, gained 8.8% in September as global equity markets rallied during the month (average in US$ terms: US markets +8.2%, Europe +12.1%, and Asia +10.4%). The global equity markets were pushed by strong manufacturing growth in industrial production in several countries, growing expectation that the US’ Federal Open Market Committee (FOMC) will re-launch the quantitative easing program (QE 2) to stimulate the economy, and capital inflows into Asia.
This fund, which was incepted in October 1997, is managed by Quest Management Inc., a fund management firm headquartered in Thailand. The company was founded in 1994 and managed $171.8m as at end September-10.
In a recent emailed report, the fund’s manager Doug Barnett, said that while the Stock Exchange of Thailand (SET) outperformed the fund in September when it closed at 10.3%, the Thai Focused Fund is still up year-to-date with 58.5% gains against SET’s 46.3%.
The fund lost 3.5% in April as the political turmoil in Bangkok took its toll on the market (see Opalesque Exclusive: here).
In May, the Thai military launched a massive crack...................... To view our full article Click here
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