Stock selection ideas and a boost from currency movements helped the Australian dollar-denominated Platinum Asia Fund put on 6.5% in January.
Financials such as Korean banks and brokers, as well as Thai banks, did well, as did a mixed bag of small-cap stocks, explains portfolio manager Andrew Clifford. Although Indonesia accounts for only 4.5% of the portfolio, all its stocks in the fund also did well.
Although the overall outlook remains grim, a number of stocks are now looking very cheap. If there is a rally ahead, Clifford says the fund will sell, otherwise it will wait and benefit