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Pheim Asset Management (Asia) PTE LTD 43, Duxton Road, Singapore 089507 Monday-Friday: 9am to 5pm Saturday: 9am to 1pm Tel: +(65) 6227-9928 Fax: +(65) 6225-9912 Email: [email protected]
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Dear Valued Investors, In contrast to December’s overall stellar showing, January’s performance in global markets was somewhat of a mixed bag – with certain regions outperforming while others significantly underperformed. The best performing markets in the region in local currency terms were the Hang Seng China Enterprise Index