Asian indices rose sharply in February helping boost the Firebrick Asia Fund, which gained 3.53% in February. Equity markets continued gains from the previous month amid signs of economic recovery in the US and Europe. There were positive signs in Asia as well. Inflationary pressures eased, prompting the Chinese central bank to reduce its reserve ratio. In Japan, the Bank of Japan surprised markets in February by easing monetary policy.
“Because the fund has more of a mid-cap focus, there was a bit of catch up. Lots of holdings came through, some of them were a turnaround situation,