Monday, 4 May 2015
Last updated 7 hours ago
Feb 22 2008 | 11:16am ET
Singapore-based Blackhorse Asset Management is making a few changes to its Blackhorse Asia Fund in an attempt to boost performance.
Starting next month, the firm will narrow the fund’s focus to exclude technology from its portfolio due to disappointing results from the sector.
“The primary reason for this underperformance is related to difficulty in controlling downside volatility in our tech. exposure to date,” the firm said in an e-mail to investors obtained by FINalternatives. “On the other hand, performance in the non-tech portion of the Blackhorse Asia Fund has been quite strong. BAF non-tech portfolio has provided an approximate 24% annualized return since inception, with volatility of roughly 14%.”
The fund lost 4.08% last month with technology remaining “the greatest disappointment for the portfolio,” according to the firm.
The firm will also be changing the name of the fund to the Blackhorse Asia Fund NT to further distance itself away from its volatile past as well as to “reflect the future focus of the fund in non-tech sectors.” As well, the firm is introducing three independent directors to the board of the fund and formalizing external oversight roles.
Blackhorse currently manages US$580 million in long/short and long only assets.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…