MW GaveKal profits on high beta stocks


Aggressive positioning into the recent market rally enabled the long-biased Marshall Wace GaveKal Asian Balanced Fund to gain 8.99% in April. The fund, which invests in Asia including Japan equities and bonds, was overweight equities for the month, and with the three pillars of a bull market in place - attractive valuations, excessive liquidity and decent economic indicators - the fund reached into fairly high beta stocks, explains Marshall Wace GaveKal's Louis-Vincent Gave.

The fund remains fairly aggressively positioned in May, and in the medium term Asia presents two exciting opportunities, he argues. The bull market that has started