Firebrick Asia posts first positive return


The Firebrick Asia Fund posted its first positive monthly in October after launching at the start of August ahead of the highly turbulent markets conditions in August and September.

The fund delivered a 1.92% return during the month after losing 1.95% in September and 1.79% in August.

At the end of October the fund had its biggest gross exposure in Japan at 54.8%. China was next (at 39.5% gross), followed by Korea, Australia, Singapore and Taiwan. However, it has a negative net exposure of 10% in China. The fund has gross exposure of 144% and net exposure of