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James Hay From Precy Dumlao, Opalesque Asia:
Investing close to home proved to be a smart move for Singapore-based Pangolin Investment Management which manages Asia focused hedge fund Pangolin Asia Fund, after its Class A shares rose 7.01% to $311.15 in February, the firm’s Director James Hay reported.
Hay told investors in his monthly communication, "We like to stay close to home, which is why we are invested in Malaysia, Singapore, Thailand and Indonesia. We take a bottom-up approach based on screening and company visits. Often we find many of the best priced investments are in smaller companies. Our final choice is qualitative and depends on whether we like the management or not; if we don’t we won’t invest.
Pangolin sustained its strong 7.00% gains in January to bring its year-to-date performance at 14.5% as at end of last month. The fund finished the volatile 2011 markets up 0.85%.
According to Hay, the fund is approximate 94% invested with the split being approximately as follows: Indonesia 30%, Malaysia 39%, Singapore 19%, and Thailand 12%.
The hedge fund industry is looking at Asia to drive growth according to Marko Maslakovic, senior economist at TheCityUK, said in his new report that the growth in Asian hedge funds would benefit London. In his study, Maslakovic said that China and Asia’s oth...................... To view our full article Click here
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