Wednesday, 27 May 2015
Last updated 1 hour ago
Aug 16 2012 | 4:02am ET
Ward Ferry Management’s Asia hedge fund is lapping its peers.
The US$209 million fund is up 16% through July, nearly 18 times better than the regional hedge fund average, Bloomberg News reports. The WF Asia Fund has profited from its bets on consumer stocks and its bets against what it sees as poorly-run companies.
Among the former is PT Tower Bersama Infrastructure, a Malaysian telecommunications tower company, and operators of 7-Eleven convenience stores in the region.
“We believe convenience retail to be one of the most attractive structural growth sectors in Asia over the next five to 10 years,” Ward Ferry wrote to clients. “Sector growth is driven by rising affluence and market share gains against single owner-operated stores.”
Hong Kong-based Ward Ferry has US$630 million in assets, down from almost US$2 billion four years ago.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…