PMA Macro-Forex Fund Makes SPARX

Nov 5 2008 | 4:08am ET

A flagship SPARX Group hedge fund continues to rack up big numbers as many of its peers do exactly the opposite.

Hong Kong-based PMA said today that its Harvester Fund rose another 4.83% last month. The foreign exchange and macro fund is now up 21.33% year-to-date.

“Given that we anticipate that market conditions will remain difficult in the near-term, our strategy will be to remain light and nimble in our positions,” Shun Hong Liu, macro strategy chief investment officer at PMA, said. “There are many landmines in the markets at the moment, with the full impact of the unwinding of structured products, potential pension underfunding and a resulting downward stock market pressure as yet unknown.”

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