PMA Investment Advisors, an Asia-based hedge fund manager, has announced positive November results for the Harvester Fund, its flagship macro fund focusing on foreign exchange and rates
PMA Investment Advisors, an Asia-based hedge fund manager, has announced positive November results for the Harvester Fund, its flagship macro fund focusing on foreign exchange and rates, and the Temple Fund, its flagship credit fund.
The Harvester Fund delivered a return of 4.51 per cent in November, bringing its year-to-date return to 26.81 per cent.
Year-to-date, the fund has grown from USD37m to more than USD245m.
Shun Hong Liu, foreign exchange and rates chief investment officer (photo), says: ‘We credit this month’s success to the caution that guided us to trim down unnecessary risk positions. Given the uncertainty in the markets, we prefer to stay in the trades that we understand best.’
The Temple Fund is 10.61 per cent up for the year, bolstered by November’s 0.93 per cent return.
Its assets under management have also more than tripled this year, rising from USD71m at the start of the year to its current level at more than USD253m.
Credit chief investment officer Darryl Flint says: "The fund’s consistent out performance this year even amid the global credit market upheaval is a testament to the team’s expertise and experience in navigating challenging times like these. We do see emerging opportunities in the credit markets, and will carefully position the portfolio to take advantage of these opportunities as they arise."
