As at the 30th of November 2009 (the fund’s year end), the NAV of the Class A shares of the Pangolin Asia Fund was US$182.60 net of all fees and expenses, up 4.65% from US$174.49 in October. YOY the fund is up 112% and YTD 82%. Please see the table at the end of this letter for further detail.
At the end of November the fund was just about 86% invested, with the split being approximately as follows:
Details of the individual holdings are always available to investors on request.