New Harbour Asia fund up 82% in 2009


Good-sized positions in technology, set up at the beginning of the last quarter in 2009, stood the New Harbour Asia Fund in good stead in December. It gained 5.68% for the month and was up an impressive 82.4% for the year.

Technology stocks did well across the board, with gains coming from Korea, Taiwan and Singapore, says New Harbour's William Toh. The long-biased Asia ex-Japan long/short equity fund relies on fundamental stock-picking and typically holds positions for two to three years in a concentrated portfolio of 30 to 40 stocks both long and short.