NTAsian Trims VSTECS Stake

NTAsian Discovery Master Fund (NTAsian) recently trimmed their stake in HK-listed VSTECS Holdings Ltd. (VSTECS). According to a filing submitted to the Hong Kong Stock Exchange on November 7th, 2017, the firm sold 2,560,000 shares on the exchange at an average price of HKD 3.8114 per share on November 3rd (total consideration was ~US$1.25m). Following the sale, NTAsian’s stake in VSTECS decreased from 9.06% to 8.88% of the company’s shares outstanding.

VSTECS specialises in the distribution of information technology products and other related accessories, including PCs, notebooks, tablet computers and other digital media products. According to their website, the company has more than 24,000 distribution channel partners and 53 offices across six countries in the Asia-Pacific region (China, Thailand, Malaysia, Singapore, Indonesia and the Philippines). VSTECS was established in Hong Kong in 1991.

NTAsian is an absolute return, long only value fund, with a target to achieve 2-3 times the US long bond yield, i.e. 8-15% per annum. They invest long-term in primarily, but not exclusively, small to mid-cap stocks. The fund is offered by NTAsset, a boutique fund management company that invests only in Asian (excluding Japan) companies. The firm is based in Bangkok and led by John Thompson and Kenneth Ng.