Managed Funds Challenger China Fund

Just wondering if anyone owns this fund and is as perplexed as I am regarding it's poor performance of late.
I entered the fund at the beginning of the year when the Chinese market index was around 3000. It has recently hit 4000, up 30%, but still my investment is worth less than I put in!
I know that the fund is unhedged and there has been a small depreciation of the Chinese currency against the Aussie dollar, but nowhere near enough to account for such poor performance.
I am now thinking that if it's not performing when the market is doing well, what hope is there when the market starts to fall?
I would be very grateful if anyone could share their thoughts or insights on this particular fund.
Thanks

 

"I am now thinking that if it's not performing when the market is doing well, what hope is there when the market starts to fall?"

Hope is a 4 letter word

PS - "China shares may extend losses after yesterday's sharp fall, on concerns securities regulator may implement more measures soon to rein in overheated market; Shanghai Composite expected to test 3850 technical support; index tumbled 3.6% to 3899.18 yesterday; "the broad sell-off in the banking sector implied fund managers have turned cautious on the market's outlook," says Zhu Haibin at Everbright Securities. Bank of Communications may lose 2%-3% on profit-taking after soaring more than 70% to CNY13.54 on debut yesterday. Shenzhen Index off 2.6% at 1097.94"

 

Yes I am in this fund as well, only been for a few weeks and made 5% but I am going to get out I think because the SSE has been consistently reported in AFR etc as being a bubble waiting to pop and I dont want to risk my capital at this point on China - too volatile and too overvalued. IPO's are just ridiculous there at this point.

Tim

 

OK well make that 10% now....



Hmm I will exit me thinks

 

This one i'm happy with in the short time i've had it and think i'll keep holding. I bought units in march 2007 @ $1.68, current exit price is $1.92. I thought the Chinese market was still hot, i notice that AGF (AMP capital china growth fund) has also picked up recently. Share price currently at $1.25, issued at $1 in december 2006.

 

Well done mate. Sounds like you got in at just the right time.
I'm in positive territory at last, but still can't understand why there wasn't any positive movement in the price during Jan,Feb and March.

 

I wouldn't be surprised to see a 15-25% fall in China A shares sometime in the next 3 months, in fact I'm expecting it.