Rebranded China Enterprise fund survives a turbulent six months

China Enterprise manager believes fund will pick up after losing 38.2% against benchmark

Premier Asset Management restructured its Eastern Enterprise fund in the summer, handing the mandate to Fen Sung as Richard Muckart geared up for retirement. The vehicle was renamed China Enterprise to reflect its more focused remit and Sung cut all its holdings in Australia and South East Asia. He turned over around 50% of the portfolio's holdings at handover, although the investment process remains the same, with a focus on growth at the right price (Garp). The fund has had a tough six months, losing 38.2% against the benchmark's -33.8%, according to data from Financial Express. S...