The £80m Seneca Global Income & Growth trust has reduced its holding in the £390m Aberdeen Asian Income trust in favour of a new position in the open-ended $366.1m Samarang Asian Prosperity fund, as it wants to back "asset managers not asset gatherers".
The Seneca trust, co-managed by Tom Delic, has taken a new position in the small cap pan-Asian fund, which is run by Andbank Asset Management's Greg Fisher, which is more favourable than the Aberdeen portfolio...
The US dollar is close to peaking and the risks now seem to be on the downside.
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