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Last updateSat, 29 Jul 2017 12am

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Legg Mason Capital Management Opportunity Trust

Legg Mason Capital Management Opportunity Trust Fund, managed by Bill Miller, returned 28% this year through 2012-11-07, surpassing 99% of peers.  The fund lost 35% in 2011, last in its category, as Miller prematurely bet on a recovery.

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Schroder Asian Investment Grade Credit Fund

Schroder Asian Premium Bond will be renamed as Schroder Asian Investment Grade Credit effective 2012-11-01.  It is probably the only pure Asian investment grade corporate bond fund in Singapore approved by CPF-OA and SA.  Unlike other Singapore bond funds such as United SGD Fund etc, which is a combination of government and corporate bond, this Fund is pure corporate bond with average grade of A-.

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Hedge Funds Trail Stock Rally 3Q 2012

The September increase brought hedge funds’ gains this year to 3.6%, compared with an advance of 13% for equities worldwide, including dividends.  The main Bloomberg hedge fund index is weighted by market capitalization and tracks 2,698 funds, 1,182 of which have reported returns for September. The index is down 9 percent from its July 2007 peak.

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The New Macro Hedge Fund

According to Hedge Fund Research, the average macro hedge fund has made just 0.7 per cent this year, and 1.52 per cent, on average, annually, for the past three years.  But not all macro fund managers are failing - a new generation of macro funds with a greater focus on emerging economies are succeeding.

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Asian Hedge Funds Underperformed the West

Asian hedge funds managed $125.4 billion as of 2012-08-31, compared with $358.8 billion in Europe and $1.2 trillion in North America, according to Eurekahedge, a Singapore-based data provider. According to Hedge Fund Research Inc, investors have withdrawn $447 million this year from Asian hedge funds, while 73 of them have closed in 2012. Seventy-seven percent of the funds in the region are equity-related, versus 46 percent globally.

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