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Cavendish launches Asia Pacific fund


Cavendish Asset Management has gone live with its Asia Pacific fund, the fifth specialist fund the firm has launched this year.

Cavendish Asset Management has gone live with its Asia Pacific fund, the fifth specialist fund the firm has launched this year.
The fund will be headed by fund manager Liz Evans, and follows in the footsteps of the Cavendish European, US, Japan, and technology funds announced in May.

All of the new launches are in positive territory, reflecting a period of strong performance from global equities. The new Cavendish Technology fund has delivered the strongest performance out of the firm’s new launches, returning 14 per cent.
The latest offering from Cavendish reflects the view of management that while recovery remains uneven, optimism is returning to the market and current valuations pose an attractive entry-point for the medium-term investor. The objective of all the new funds is to provide new and existing investors with greater choice and diversification.
Julian Lewis, chief executive of Cavendish Asset Management, says: ‘As with the previous new funds, we are by no means calling the bottom for Asian equities or indeed wider global stock markets. We do, however, believe that current low valuations against their historic peaks, combined with tentative murmurings of recovery being in sight, mean that being out of equities now carries significant risk.
‘Anyone returning to equities would do well to consider Asian markets, which have produced some of the most exciting returns in the past few years. Although the recent economic climate has taken its toll on the region, the long-term trend remains as strong as ever. Despite a significant slowdown, China has in recent quarters continued to enjoy not just growth, but growth that would make Western economies envious in the best of times. The anticipation is that in 2010 – widely tipped as the key turning-point in the broader, sustained market recovery – China will present one of the strongest growth stories for investors.’
While the Asian market is typically classified as emerging, it is the view of Cavendish that there are a number of large and well-established domestic companies from which to choose. These promise more interesting opportunities for growth than would be found among equivalent companies of their size in more mature Western markets. By investing predominantly in these mid to large cap companies (USD500m plus), the new fund seeks to provide an increased degree of stability for those investing in less mature markets.
The Cavendish Asia Pacific fund is now open to retail investment. This follows a transition period in which some existing private client money was transferred into the new fund, in addition to capital from the firm’s parent company, the Lewis Trust Group.

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