Financial planning group Dixon Advisory has added a new investment strategy to its listed multi-manager, Asian Masters Fund (AMF).
Comgest's Growth Asia ex-Japan Fund joined the AMF with a 4.8 per cent weighting during the March quarter, Dixon Advisory managing director of funds management Alex MacLachlan said.
"The investment brings another Asian regional specialist into the manager line-up, whose long-term, non-cyclical growth-oriented style adds another level of diversification," MacLachlan said.
"The investment was funded by cash and a partial sell-down of the Lion Global Singapore Malaysia Fund."
Comgest, with offices in Europe and Asia, seeks stocks that can generate above average returns with below average risk in the long term.
AMF also lifted its weighting to the JF Korea Fund by 2 per cent to 5.1 per cent during the quarter to boost the portfolio's exposure to the export-oriented nation.
"Korea is a country highly leveraged to an upturn in global demand and the manager therefore sought to decrease AMF's underweight position in Korea," MacLachlan said.
AMF's other funds include Value Partners High Dividend Yield, Aberdeen Asian Opportunities, HSBC India and Treasury New Asia.
The fund fell 3.1 per cent in the March quarter, underperforming the MSCI Asia ex-Japan Index's 0.9 per cent decline.
AMF has around $100 million in assets under management.
