Blackhorse bets on Indonesia


Asia ex-Japan fund Blackhorse Emerging Enterprises was up 9.58% last month, bringing year-to-date gains to 35.93%.

The portfolio’s exposure to Indonesia’s consumption and financial sectors were a contributing factor to fund performance, in addition to investments in the Philippines, which is in the early stages of economic recovery, according to fund manager John Engle.

A cautious approach to China, where the fund was underweight, has also paid off, as government moves to curb the overheating economy sparked stock sell-offs.