Contrarian bets push Knight to over 17% year to date


A combination of shorting Hong Kong and China futures and going long gold helped the Knight Asia Contrarian Fund gain an estimated 2.32% in April, taking the fund up 17.18% year-to-date. The fund makes contrarian bets in emerging Asia, either on the overall market, industry or individual shares, explains Knight Asia’s Jeremy King. The Asia ex-Japan fund is now actively shorting the Chinese banking sector and favours gold, the Australian dollar, the Singapore dollar and the Thai baht.

Prospects are good in the gold mining sector as the gold bull market continues and large paper currencies debase themselves,