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The fund is advised by Blackhorse Research Pte Ltd, which
was established in Singapore in 2001 by John Engle. Together
with partners Jonathan Ross and Paul Rubens, the team has
a combined 35 years' experience in the Asian financial markets.
Engle is a CFA with 14 years of investment experience, much
of this with ABN AMRO HG Asia. He was most recently group
head of research for Asia Pacific and Latin America at Indosuez
W.I. Carr. Ross, also a CFA, has 11 years' experience in research
in Asia and was previously head of technology research in
Asia for Goldman Sachs. Rubens has 15 years' experience working
for leading investment management organisations in Hong Kong,
Taipei and Tokyo. He was most recently managing director,
Asia for Banc One Investment Advisors.
The fund has generated returns of -10.70% year-to-date and
12.65% since inception (May 2003).
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