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...