PAI

As the PAI forum is pretty dead, thought I'd post this here as well.

http://hotcopper.com.au/threads/pm-capital-asia.2658801/

Looks like the managed fund version of PAI just got a tick. Currently trading at ~12% discount to NTA. Could be an interesting play. Also a good sign for anyone invested in Donaco! Paul Moore is a great stock picker and has a massive overweight call on DNA.

PM Capital fund receives Zenith rating
PM Capital Asian Companies Fund has received its first 'Recommended' rating from research house Zenith Investment Partners.
The fund is already available on the Macquarie and Colonial First wraps and has a concentrated portfolio of between 15 to 35 stocks at any one time with individual positions not exceeding 10% of the portfolio's net asset value.
Since its inception the fund has returned 18.5% per annum, which is 2.37 times the MSCI AC Asia (ex-Japan) benchmark.
"The Asian Companies Fund meets a large gap in the market for those investors looking for a selective approach to investing in Asia, as an alternative or complement to a passive or index approach," PM Capital chief executive Ben Skilbeck said.
He explained that portfolio manager Kevin Bertoli and his team "view Asia as a collective of disparate economic jurisdictions, which has enabled them to exploit numerous investment opportunities over the last seven years.
"Bertoli and the broader investment team have delivered outstanding returns since this fund's inception in 2008 through a highly selective approach to investing in Asian businesses," he added.
The portfolio includes NASDAQ-listed HR Chinese business 51job, ASX-listed gaming business Donaco, NYSE-listed online employment platform Zhaopin, NASDAQ-listed Chinese search engine Baidu and HSBC Holdings.
http://www.financialstandard.com.au/news/view/55906368