WEST PALM BEACH, FL (HEDGECO.NET) – The asset manager, Forsyth Partners has unveiled new fund of hedge funds product according to a new press release. The new product is geared towards takingadvantage of the �strengthening economic environments� in the greater Asian region. The new Forsyth Asian Opportunities Fund began trading on March 5; the new vehicle hopes to achieve capital growththrough a diversified portfolio, totally devoted to the Asian region.
The Asian Opportunities fund is domiciled in Dublin Ireland, and will invest in the Asia Pacific region. They intend to exclude Japan, instead concentrating on markets in Taiwan, Hong Kong, China, South Korea, India Thailand, Australia and New Zealand. Forsyth Partners has investment experience of 12 years with the Asian markets, the fund managers hopes to ultimately apply such valuable experience to the advantage of its new fund.
Commenting on the new fund launch, the Chief Investment Officer for Forsyth Partners, Peter Toogood explained that economies in the Asian region had a pretty good year in 2003, and that such performance has a continuing potential.
Toogood said, �A number of the larger economies, such as Taiwan and Thailand, are no longer emerging markets but are major economies in their own right. Growing political stability has enabled governments to drive through important structural changes which, in turn, have boosted the domestic economies�. Toogood said that Forsyth has a universe of fund selection including about 150 Asian funds
According to Mr. Toogood, some Asian economies such as China and India have done remarkably well, to the point that such countries have lessened some of its import needs from the United States, and may eventually eclipse the importance of Japan to the region.
The new launched fund will charge its investors an initial fee of 1% according to Mr. Toogood, and another 2% for annual management costs, minimum investment is US$10,000 according to the released information.
Paul Oranika
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