Leopard Capital Asia Frontier Fund Down 0.3% In July

Aug 20 2012 | 9:19am ET

Leopard Capital’s Asia Frontier Fund was down 0.3% after fees in July 2012, putting it down 7.2% year to date.

The Cayman-domiciled private equity firm says in its monthly newsletter that LAFF received “considerable new capital inflows,” in July, enabling it to take larger positions in “consumer-related stocks.”

Within the consumer sector, the fund is focusing on breweries, holding six brewery stocks, including three in Vietnam and one each in Mongolia, Sri Lanka and Pakistan. Leopard is counting on rising disposable income in the region to increase demand for beer.

LAFF increased its exposure to Vietnam generally during July, anticipating a “surge in liquidity and positive re-rating” of the country’s stock markets once the State Securities Commission follows through on a plan to liberalize regulations on foreign ownership and trading.

The investment committee sees opportunities in Pakistan and Vietnam’s agribusiness and food sectors and Papua New Guinea’s emerging oil and gas industry.

As of July 31, LAFF was invested in 62 shares, one closed-ended fund (with 50% discount to NAV) and one GDR (with a 43% discount), and held 7.5% in cash. LAFF holds stocks listed on the exchanges in Bangladesh, Hong Kong, Laos, London, Mongolia, Pakistan, Papua New Guinea, Singapore, Sri Lanka and Vietnam.

 


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of