Thursday, 21 August 2014
Last updated 40 min ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note