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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...