Value Partners Classic makes further gains


Long-awaited gains in Greater China stocks helped boost the Value Partners Classic Fund, which gained 6.3% in February after a 7.8% gain in January. Seeing opportunity, the fund reduced its defensiveness early during the month by cutting hedging to be better engaged.

“The risk-on trade has been brought forward with the LTRO and confidence as the Euro banking system does not face the collapse we saw end of last year. In light of this, we had a weaker January on the back of liquidity flowing primarily into large-caps – this space allowed global asset allocators to deploy most