Having positioned itself for a market rebound since the end of 2008, the Cape China Fund continued to see the benefit of this strategy in October. It gained 5.61% for the month, while the fund ended the month up a very respectable 86.08% for the year to date. Asset allocation did not change much in October and the fund continued to be almost 100% invested, explained Cape's Charles Lo.
The China equity fund has 20-30% exposure to small- and mid-caps, which rebounded earlier this year, but only to be more or less in line with the market. As