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: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note