Event trades were the major contributor to the 2.36% gain by the Hawkesbury Asia Pacific Fund in January. The event-driven fund also benefited from index and commodity positions hedges. The equity portfolio losses were less than 70 basis points. At the end of the month, the fund was invested 43% gross and short 5% net. The largest geographical exposure was to Singapore, followed by Japan.
As for the outlook, Hawkesbury's Mark Hodgkin notes that although Hawkesbury remains very bearish on the global economy, the opportunity set for event driven will improve in the coming months. There are good opportunities