A strong showing from mining and mining equipment stocks, primarily in Australia and Indonesia, helped the Boyer Allan Pacific Opportunities Fund to gain 5.99% in December, and 24.82% for the year as a whole.
Improving economic growth statistics boosted global growth plays and floods in Queensland drove supply tightness in coal and boosted coal prices, explains Boyer Allan’s Andrew Tay. A 35% re-rating by an Australian biotechnology company in the portfolio also helped December’s numbers.
While global growth-exposed names look constructive, domestic names particularly in India, Indonesia and China are less enervating, Tay says. Asian markets are seeing