Financial planning group Dixon Advisory has added three new funds to its multi-manager Asian Masters Fund (AMF) in order to boost the portfolio's diversification.
The Treasury New Asia Fund, Legg Mason Asian Enterprise Fund and Phillip Capital Thai Fund have all joined the AMF and sit alongside existing funds including Aberdeen Asian Opportunities, Value Partners High Dividend and HSBC India.
The Treasury New Asia Fund has a 6.5 per cent weight within the AMF, while Legg Mason Asian Enterprise made up 5.4 per cent and Phillip Capital Thai 3.2 per cent.
The Legg Mason Asian Enterprise Trust and the Treasury New Asia Fund further diversify the AMF's fund line up with their more growth oriented investment styles, Dixon Advisory managing director of funds management Alex MacLachlan said.
The Phillip Capital Thai Fund gives the AMF more exposure to Thailand, whose stocks are lightly held by other investment managers that focus mainly on the larger Asian markets, he said.
The new investments were funded by cash and a partial sell-down of existing fund Lion Global Singapore Malaysia Fund.
The AMF has returned 7.3 per cent in the two years until December 2009, compared with a 24.7 per cent decline in the MSCI Asia Pacific ex-Japan Index.
The fund is listed on the Australian Securities Exchange and has a market capitalisation of nearly $100 million.
