The long/short Truston Dynamic Korea Fund regained its footing in October following a sharp rebound on the KOSPI equity market index and a sharp appreciation of the Korean currency.
The fund delivered a 10.35% return in October after posting a negative 19.15% performance in September. In October, the Korean benchmark gained 7.88%.
Truston Dynamic portfolio manager Lee Moo Kwang says all the profits gained were on the long side and that the fund’s positions in index futures and individual shorts were all loss-making.
During the month the Korean won strengthened by 5.08% month on month after depreciating 10.4%