Being aggressively positioned in September paid off for the Marshall Wace GaveKal Asian Balanced Fund, with a gain of 7.47% for the month, taking year-to-date performance to 42.03%.
Louis Vincent Gave
The fund was overweight Indonesia on both the equity and debt side, and was also overweight China, predominantly through H-shares. The fund built up its positions in Korea and India and avoided Taiwan, explains Marshall Wace GaveKal's Louis-Vincent Gave.
For Gave, the current situation is reminiscent of 1999, when investors started the year very overweight cash and shell-shocked by the meltdown in Russia and the