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APS Greater China outperforms benchmarks in August with 4.94% gains (+7.31% YTD)

Monday, September 29, 2014

Komfie Manalo, Opalesque Asia:

Singapore-headquartered fund manager APS Asset Management said that its Greater China Long/Short Fund outperformed its benchmarks in August with 4.94% gains during the month (+7/31% YTD). Comparatively, the MSCI Golden Dragon Index was up 0.64% (+7.79% YTD) and the Eurekahedge Greater China Long/Short Index gained 1.24% (+2.66% YTD) during the same period.

APS Greater China lead portfolio manager James Liu said that China rose 0.2% MoM, as markets digested July’s 7.3% rise. Hong Kong declined -1.2% while Taiwan gained 3.2% MoM. China’s official PMI for August showed a slowing growth trend for the first time in five months, registering 51.7 versus 51.1 a month earlier. The key weak areas were slower industrial activity, imports and investment, but these were offset by strong exports. The resulting lower commodity prices benefitted industries reliant on raw materials, with gross margins broadly rising because of lower input costs in 2Q14. Nationwide property sales remained weak but signs of an improving trend are emerging with August sales declining -13.7% YoY, a smaller decline than July’s -17.9%.

"As we move into September and October, we expect property sales to pick up as more developers launch new projects. It was also reported that Shenzhen has submitted an application for a Hong Kong-Shenzhen stock connect for approval," Liu said.

He further explained that in the second quarte......................

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