Most Asian markets fell during the month, as worsening data came out of the US fuelling fears of a slowdown.
Lotus Equity Income Fund bucked the downward trend, gaining an estimated 2.95% on the month to put three-month numbers at 11.44%. Allard Growth Fund was up 1.41%, taking three-month numbers to 9.35%.
Pangolin Asia was up 1.77% to take three- month figures to 11.62%. During August fund manager James Hay made his first investment in Thailand for a while, buying a consumer company with net cash, a PE of around 7x 2010 earnings and a market leading brand.