As demonstrated by his success in steering Riley Paterson
Investment Management through the carnage of Asian long/short
equity last year, founder Daren Riley is a tough
While many Asia ex-Japan long/short equity funds have gone
into the new year reeling from the carnage of 2008's
performance, the team behind the Riley Paterson Asian
Opportunities Fund can look back on gains of 20.69%, which took
performance to just over 30% from inception in June 2007 to the
end of February 2009. But Daren Riley, co-founder of
Singapore-based Riley Paterson Investment Management, also sees
the opportunities the fund missed.
"The fund plays the de-rating and re-rating of Asia as it
moves between one and three times price-to-book ratio in a
cycle," he says. "Our performance last year was a function of
our macro-driven process. If all you look at is earnings in
isolation, you can...