Lumiere Capital 2017 Investor Letter

Singapore-based Lumiere Capital, an investment management company focused on investing in undervalued stocks of companies that could benefit from the dynamic growth in Asian economies, recently released its full-year 2017 investor letter – you can download a copy below.

Lumiere Asia Value Fund returned 19.8% in 2017, while the S&P 500 rose 19.4% and the MSCI Asia index rose 30.8% over the same period.

Stocks that did well for the fund during the year include Fanhua Holdings, which is an independent insurance distributor in China. Another stock that did well for the fund was China Taiping Insurance, which is the 7th largest life insurer in China. Further, Fang Holdings – which operates the real estate Internet portal in China – also contributed positively to the fund. Other holdings that performed well include Perfect Shape and Hopefluent.

You can download a copy of the letter here.