Apollo Asia Fund
What's new?

2 Mar 24:
The NAV of the Series A shares rose 3.8% in February to US$ 2,589.51; charts.

10 Feb 24:
Best wishes to all our readers for the year ahead, The Year of the (Sea)Dragon.

1 Feb 24:
The NAV of the Series A shares fell 2.5% in January to US$ 2,495.80; charts.

21 Jan 24:
Rick Haythornthwaite is due to take over on 15th April as chair of NatWest. Sarawak Report's update notes that "by that date t0he PetroSaudi trial will be entering its third week, inevitably spotlighting Mr Haythornthwaite's role as the Chief Operating Officer at PetroSaudi throughout the period that the corrupt joint venture with 1MDB was executed... an unusual back-drop for an anointment to a top City position". We reported in September on the very good questions raised by Sarawak Report and mainstream media, but the bank is apparently pressing ahead. Haythornthwaite was appointed to the NatWest board on 8th January, and is now described on its website as 'Chair Designate'. Sarawak Report has reproduced the extraordinary dismissal of one shareholder's enquiries by senior independent director Mark Seligman. Malaysian taxpayers watch from afar, and will be paying for the 1MDB fraud for years to come. NatWest shareholders, customers, and everyone exposed to this systemically important UK bank should continue to ask questions.

18 Jan 24:
The investment case for Asia is eloquently made by Desmond Kinch in his annual chairman's statement for OAM Asian Recovery Fund. He uses Apollo Asia Fund's charts to highlight the multi-year derating which has partially offset the steady upward march in earnings and underlying asset values, shows the extent to which US share prices have outperformed Asia's over the last 13 years, and with caveats on right-sizing for geopolitical risk, argues persuasively that long-term investors should now buy Asian equities. Read his report here.

17 Jan 24:
I wrote in 2022 about Myanmar's imprisonment and eventual release of my friends Htein Lin and Vicky Bowman. Htein Lin's double portrait is topping Art Basel's must-see list for Singapore Art Week. His exhibition 'Reincarceration' is on now until 27 January. (Update: catalogue.)

8 Jan 24:
The 4Q report discusses cycles of violence, Myanmar, climate change, and my favourite dragon. Cherish the reef-dwellers.

2 Jan 24:
The NAV of the Series A shares rose 2.9% in December to US$ 2,560.33; charts.

Claire Barnes

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