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James Hay From Precy Dumlao, Opalesque Asia:
James Hay, Director at Singapore-based Pangolin Investment Management which manages Asia focused long only value fund Pangolin Asia Fund, said that the firm is sticking with its current geographic focus on Singapore, Malaysia, Indonesia and Thailand as these markets have enough going on to keep their fund managers busy. But he admitted that Pangolin might "stray" if it finds something compelling outside of the region.
Hay made the statement in an exclusive interview with Opalesque as he reported that Pangolin’s Asia Fund gained +11% in Q1 and he remained confident that if the firm continued to buy cheaply "and doesn’t make too many mistakes", Pangolin should be able to make money this year. The fund finished 2011 almost flat at +0.8%.
In March, Pangolin’s fund also suffered losses as most hedge fund strategies with a negative -2.51% loss. "It [fund] was affected by negative sentiment towards the Indonesian finance sector where we have quite large exposure. We're not too concerned with short term numbers but prefer to focus on the longer term outlook. For the better Indonesian finance companies, the prospects remain outstanding," he told Opalesque.
He insisted that their ability to invest cheaply without making mistakes is the major factor that determines the profitability or alpha generation of Pangolin. "Our goal is to make money and ...................... To view our full article Click here
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