Fund of the week: trust to Luk
When Henrietta Luk left her last job as manager of Eva Asset Management, the vast majority of her clients followed. And with her Asian Opportunities fund returning 160% since its launch, they'll be glad they did.
It's telling that when Henrietta Luk left her last job as manager and co-founder of Eva Asset Management, "some 90% of her clients followed" her into Melchior, says Mark Dampier in The Independent. And "they must be glad they did; the Asian Opportunities Fund has performed superbly". Since launching in April 2005, it's returned 160%, against 95.9% for its benchmark index, and this year alone it's up 36% so far.
Luk makes all her investment decisions from the company's base in Hong Kong. As of 31 July, 27.8% of the fund was invested there, and a further 45.8% in Taiwan. "Luk believes this is a one-off opportunity to see significant gains in Asia," says Liz Philips in the Daily Mail. The Chinese government has relaxed rules on investing overseas, and for the first time ever, some Chinese citizens will be allowed to invest in stockmarkets other than Shanghai's. This should provide an extra lift for markets in the region, she believes.
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Melchior Asian Opportunities top ten holdings
