As at the 30th of September 2010 the NAV of the Class A shares of the Pangolin Asia Fund was US$253.28 net of all fees and expenses, up 6.07% from US$238.78 in August. The fund is up 29.31% YTD. Please see the table at the end of this letter for further detail.
As of today the fund is about 85% invested, with the split being approximately as follows:
We are still waiting to receive our cash from the privatisation of Tanjong. If we include that we are at about 25% cash. I’mpretty happy with lots of cash at the moment.
Details of the individual holdings are always available to investors on request.