Boyer Allan China sees healthy growth


The Boyer Allan Greater China Fund ended the month up 3.49%, thanks to a bearish stance going into the month with gross exposure taken down by 15% to below the 100% mark, says Boyer Allan Investment Management’s Andy Li.

The fund shorted some high-valuation and high-beta names to hedge the portfolio, and this strategy worked well until the middle of the month. Li took advantage of steep skews and bought HSCEI call spreads as outright calls were expensive, given the high implied volatility.

The fund also started to accumulate cyclical names that would benefit from falling oil prices