|
Komfie Manalo, Opalesque Asia: The cheaper valuations of Chinese companies’ Hong Kong-quoted class-H
shares have helped one of Northwest Investment Management (HK)’s hedge
fund gain 46% so far this year, reported Bloomberg. Mark Smith, the head of Northwest’s
business development, said that the firm’s $20m Northwest China
Opportunities Fund also gained 18% as at end April 10.
George Philips, chief executive officer of the company that oversees
about $700m of assets, dubbed the discounted China-listed,
yuan-denominated class-A shares as "the trade of the year," and added he
expected the cheaper valuation to persist between three and six months
more.
Philips was quoted as saying, "We decided it was the trade of this year;
it has proven to be right so far. Not only is this being profitable,
most of it is still on the table. The opportunity is now not much
smaller than a week and a half ago."
At the same time, he reported that the firm’s $435m Northwest Fund
gained 15% YTD through April 10 and 12% this month. Comparatively,
Eurekahedge reported that Asian and Japan-focused hedge funds returned
3.8% in the first quarter. The Eurekahedge Greater China hedge-fund
index returned 6% during the same period. The Hang Seng China
Enterprises Index of Chinese companies listed in Hong Kong has rallied
more than 20% sinc...................... To view our full article Click here
|
|