Asia keeps things interesting in difficult trading conditions

Difficult markets have offered sparse opportunities for fund of fund managers, but emerging markets and distressed produced solid Septembers, while Asia continues to provide interesting stories.

Net equity exposure in International Asset Management's (IAM) Alternative Investment Strategies (AIS) fund of funds remained quite conservative in August as markets moved slowly upwards, with the exception of Nasdaq.

"The direction of the US markets continued to be dictated by macroeconomic events," sa