THE Close Investments Far East Equity Fund is focusing on growth and is heavily influenced by the China story, following the replacement of Jade Absolute Fund Managers with UOBAM as investment adviser to the fund on 1 June.
The construction of the portfolio and its objectives will fundamentally remain the same – to maximise total return over the longer term from a well-diversified portfolio of equities primarily quoted on stock markets in the Far East. However, lead manager of the fund, Colin Ng, will introduce his own stockpicking style. “While I acknowledge the performance of Jade, we each have our own style. Jade held 42 stocks whereas we hold 70. While Jade were overweight hotel stocks in the Asian hospitality sector UOBAM are overweight consumption and industrials.” Ng continues: “The Asian econo...
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