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PRUDENTIAL Portfolio Managers (Hong Kong) has five Hong Kong authorised funds which together have outperformed the competition on a risk-adjusted basis to take Fund Manager of the Year in smaller groups over three years.

       The group's five funds are the Prudential European Trust, the Japanese Trust, North American Trust, Pacific Markets Trust and Special Situations Trust.

      Prudential fund manager Yoon Park manages 80 per cent of the Pacific Markets Trust from Hong Kong, with the remainder of the fund invested in Australasia from the group's Sydney office.

   The four other funds are managed from other offices in the Prudential network.

      The Pacific Markets Trust has enjoyed a solid inflow of new institutional funds over the past couple of years. It had about US$180 million in assets as at March 5, up from just $81 million in January 1995, around the time Mr Park began managing it.

   'Prudential is a bottom-up manager. We try to focus on value stocks,' Mr Park said.

   'Our portfolio manager in London does the asset allocation between Hong Kong and Sydney. It has been quite stable at about 80:20, plus or minus 2 per cent.

    'The trust's biggest three holdings are Hong Kong stocks: Hutchison Whampoa, Hang Seng Bank and Sun Hung Kai Properties.'    There are 31 stocks in its portfolio not counting the Australasian portion.

    Mr Park said the fund had done very well by overweighting Hong Kong in 1995 when the Hang Seng Index was around the 7,200 level.

   'We took a positive view on Hong Kong and went quite overweight compared to our competitors. We had about 45 per cent in Hong Kong compared with their 35.'      The trust invests in Asia, ex-Japan, including Australia and New Zealand. Of the 80 per cent managed from Hong Kong, about 40 per cent is in the Hong Kong market, 5 per cent in China H shares, 14.5 per cent in Malaysia, 13.4 per cent in Singapore and 12.5 per cent in Thailand.

   Mr Park takes care of the northern region and Singapore-based country managers look after Malaysia, Singapore and Thailand.

     Prudential Portfolio Managers is part of the big British Prudential Corporation financial services group, which manages about US$150 billion worldwide.



Prudential has five of the best