Asian Capital Holdings
Asian Capital Holdings Fund (hereinafter referred to as the «Fund») was established on 8th March, 1993 for an undetermined period as an investment company under the laws of the Grand-Duchy of Luxembourg. It is registered on the official list of Luxembourg collective investment undertakings pursuant to Part II of the law of 20th December 2002 relating to undertakings for collective investment. The Fund will not promote the sale of its Shares to the public in the European Union or any part thereof.
The ownership of a Share in the Fund offers the Shareholder the opportunity of having his investment spread over the whole range of securities held by the Fund and the management of these securities to be spread over a variety of investment managers with varying management styles. All Shares have equal rights as to dividend, redemption, and liquidation proceeds.
Shares of the Fund are denominated in United States Dollars («U.S. Dollars»). The objective of the Fund is to seek long term capital growth principally by investing in securities listed on stock exchanges or dealt in on regulated markets of countries throughout Asia, and more particularly in Japan, Hong Kong, China, India, Korea, Taiwan, Singapore, Malaysia, Thailand, Indonesia and the Philippines. The Fund may invest, to a lesser extent, in Australia, New Zealand and any other country in Asia if deemed appropriate to achieve this objective.
In order to achieve this investment objective, the Management Company is responsible for identifying different investment managers (the «Managers») specialised in the investments in the Asian region, and allocating to each of the Managers a portion of the assets of the Fund.
Each of the Managers shall have discretionary authority to invest its portion of the assets of the Fund pursuant to its own investment approach, subject to the general terms of the investment policy of the Fund, the investment restrictions set out hereafter and such other guidelines which may be determined from time to time by the Management Company. The Management Company may, at any time, give specific guidelines to the Managers or request certain Managers to proceed to the disinvestment of certain positions.
Each Manager may use its own investment strategy in relation to the assets under its management, but always with the objective of seeking capital growth. Some of the Managers may use traditional investment methods, others may use more advanced hedging techniques, some may be long term investors, others may readjust the Portfolio holdings more regularly.
The Fund may also hold liquid assets if market conditions so require. Such assets may be kept in current accounts, deposits or in short-term money market instruments regularly negotiated, having a remaining maturity of less than 12 months, and issued or guaranteed by first class issuers.
To the extent permitted by the investment restrictions, the Managers may, on behalf of the Fund, enter into financial futures contracts for the purpose of efficient portfolio management and for the purpose of hedging the risk of fluctuations in the value of portfolio securities.
The Managers may also use all possible means to hedge currency risks, such as entering into currency option transactions, currency futures contracts and forward foreign exchange transactions.