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View on Past Performance

It has been another volatile month for stock markets in the region as investors continue to worry about the impact of the global credit crunch. Events in the US continue to dominate global stock markets. The US authorities placed Fannie Mae and Freddie Mac, the monolithic mortgage guarantors, into federal conservatorship, effectively nationalisation.This was followed by Lehman Brothers filing for Chapter 11 bankruptcy protection and the US Federal Reserve granting an US$85bn credit facility to AIG. Developed Asia is not immune from the effects of the global credit crunch and economic growth is now slowing in both Hong Kong and Singapore.

Fund Details