Hong Kong Hedge Fund LIM Takes Activist Stand Against AMP Fund
ByLIM Advisors, a Hong Kong-based hedge-fund firm overseeing about $2 billion of assets, is stepping up activism against Sydney-listed AMP Capital China Growth Fund.
LIM would call an extraordinary general meeting, taking matters directly to fellow unitholders, should AMP Capital fail to take action by Aug. 31 to narrow the discount the China growth fund is trading to its net asset value, it said in an e-mailed statement Monday. It has been approached by a number of other unitholders sharing its concerns, it added.
LIM has been a unitholder in the fund since 2010 and its current 12 percent ranks it the largest behind AMP Life Ltd., according to the statement. It initially wrote to the fund’s manager in August 2011 to urge actions be taken to reduce the trading discount…
Hong Kong Hedge Fund LIM Takes Activist Stand Against AMP Fund
