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Alsis Latin America Fund returns 33.3 per cent in Q2

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The Alsis Latin America Fund returned 33.4 per cent per annum during the second quarter, according to an update from the investment manager.

The returns in the second quarter 2009 correlate closely to the HFRI Fixed-Income Asset-Backed Index which had a return of 32.1 per cent per annum for the quarter.
Alsis says its performance since the inception of the fund outperforms both global and emerging markets benchmarks. During the 16 months that Alsis has operated with a 15.0 per cent per annum return, the MSCI USD World Index has lost 25.9 per cent per annum, the HFRI Emerging Markets Latin America Index has dropped 11.6 per cent per annum and the HFRI Fixed Income Asset Backed Index has increased 4.8 per cent per annum.
In June 2009, Asis raised USD7.3m in the US capital markets through its partner, the Overseas Private Corporation. Alsis issued a pre-payable bond with a final maturity of 5.5 years and a coupon of five per cent per annum in US dollars. As a result, no capital was required from the fund’s limited partners to fund acquisitions. Alsis expects to issue another US government guarantee OPIC bond in the next quarter.

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