Look profits on Hong Kong upswing


When negative feeling on Greater China was the order of the day at the end of 2011, Look’s Absolute Return Fund held steady with a 70% net long position.

This paid off going into the new year – the fund was well placed to make the most of the January Hong Kong market rally and ended the month 7.25% up.

The fund was long Hong Kong properties and China banks, explains Andrew Look, both sectors that were unpopular according to the consensus view because of their recent underperformance relative to the market.

Although Look shared the consensus view