Monday, 30 November 2015
Last updated 2 days 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…