Fund Objective

The investment objective of Neptune Asia Pacific Opportunities Fund is to generate capital growth by investing predominantly in a concentrated portfolio of securities selected from the Asian and Pacific markets (excluding Japan) with a view to attaining top quartile performance within the appropriate peer group.

View on Past Performance

The third quarter of 2008 proved to be one of the most volatile and eventful in equity market history as the fallout from the credit crunch gained traction, world GDP forecasts continued to fall, and panic characterised the world's financial markets.The seizing up of the credit markets and the high profile failures of several large US and European financial institutions, including the bankruptcy of Lehman Brothers, compelled an unprecedented policy response from governments around the world to try to prevent a complete breakdown of the global financial system.Despite the relatively sound condition of both Asian financial institutions and Asian economies, the Asian equity markets have not been spared as extreme uncertainty and negative sentiment globally, coupled with forced liquidation, have driven markets down.

Future Expectations

Our long-term view on Asian economic growth remains positive, driven by structural factors such as extensive investment programmes, strong consumption and favourable demographics. In the short term, however, cyclical and sentiment risks are a concern and accordingly we have positioned the Fund more defensively.We are however starting to see very good value emerge as companies with strong earnings outlooks and solid balance sheets are de-rated with the broader market.

Fund Details