Key to a hedged Asian bet
Article Abstract:
Investment company L. Roy Papp and Associates has remained unfazed by the regional currency crisis which has severely crippled economies in Southeast Asia. L. Roy Papp, a 70-year-old former US ambassador to the Asian Development Bank, is confident that the region can recover from its malaise. The firm, which initiated its $14 million Papp America-Pacific Rim Fund last March 1998, indirectly invests in Asian stocks through its investments in US firms which earn 15% of their revenues from the region.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Asian pension funds increasingly seek outside guides
Article Abstract:
A survey conducted by the Watson Wyatt Hong Kong Ltd consultancy agency of 50 Asian firms reveals a trend towards the use of external fund managers in place of in-house investment advisers to manage pension funds. Analysts see the move as part of a drive to diversify investments and increase returns. Asian businesses are forecast to entrust about 67% of assets to outside fund managers by the year 2001, compared to only 63% of assets in 1996.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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