I haven’t read anything about fund exposure to Olam, so I
figure this would be blogworthy.
19 November, Muddy
Waters’ Carson Block is quoted by Jesse Westbrook for Bloomberg, saying he
is betting against Olam. Requote: “We think the company will fail.” And with
the recent saber rattling between Olam vs Muddy Waters, I’d thought it’d be
worth a little time to dig up all the end-October factsheets of the various
Singapore equity funds to see if any fund managers had a position in the
neck-deep-in-Muddy-Waters Olam.
Based on end-October factsheets, none of the following funds
on Fundsupermart have listed Olam in their top holdings.
Olam-free Singapore Equity funds
|
Olam-free Singapore Bond Funds
|
|
|
source: respective
factsheets, as at end-Oct 2012
|
This doesn’t discount the possibility of being exposed to
Olam; since top holdings are only updated on factsheets monthly, there’s the
possibility of a fund taking a position between 1 Nov 2012 and 19 Nov 2012,
which would then expose the fund to Olam’s share price movements.
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source: Yahoo!Finance, last accessed 2 Dec 2012 |
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Source: Olam 2012 Annual Report, last accessed 2 Dec 2012 |
As far as I’m aware, the asset management firm there with
any sort of retail presence is AllianceBerstein, and parent, the AXA Group. But,
as they’re not present in the Singapore equity/bond space, I’ll leave it at
that for now.
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