Blackhorse Vietnam Fund Gallops To Double-Digit Gains

Nov 15 2007 | 11:03am ET

Blackhorse Asset Management’s Enhance Vietnam Fund has raced to double-digit gains in its first nine months of trading. The $107 million fund, which invests in listed and unlisted securities of Vietnamese companies, returned 4.52% last month ,bringing its year-to-date gains to 14.24%.

In its latest missive to investors, the firm attributed its profits to a light bulb manufacturer and a fertilizer concern. Dien Quan, “which competes in the low- to mid-price range light bulb space (home and industrial use), in which the fund became an investor only several months ago, reported significantly higher than expected profitability numbers in the first half.”

“Additionally, one of the first companies for which we successfully bid at equitization auction, PetroVietnam  Fertilizer Company, listed in October at a price of 80% over our May winning bid!” the firm boasted.

Going forward, the firm said it remains “confident” about finding new opportunities and the listing pipeline of investments the fund has already made at the equitization and follow-on funding stages.

The fund charges a 1.25% management fee and a 15% incentive fee, and sports a one-year lockup.  

Singapore-based Blackhorse currently manages a total of US$678 million in hedge, long only and absolute return products.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.