ED&F issue bucks dip in sector

Hong Kong's mutual fund industry has been hit hard by the region's financial turmoil.

But not the AHL Diversified Futures fund.

It has bucked the industry's downturn by returning about 20 per cent on investment since May last year, when it was launched by London-based E D & F Man Investment Products.

The open-ended fund has raised more than $60 million from Hong Kong investors.

Matt Dillon, E D & F's manager for the Asia-Pacific, said AHL was managed by quantitative investment strategies catered to the fund's return and risk objectives.

'We make no forecasts,' Mr Dillon said.