Orbitex cuts back on Asia resources

Far East fund manager Jerome Hass has departed pension fund house Orbitex after less than a year with the group, writes Mohamed Ali Bernat. Hass previously managed funds for Canada Life and Scottish Amicable, but the company let him go for "economic reasons", citing the funds' small size and the presence of two other fund managers with similar Asian experience. Hass ran the Asian Opportunities and Asia Pacific funds which, during 2000, returned -46.35% and -72.64% respectively against their benchmark, the MSCI Asia Pacific Free (ex Japan), which was down 32.91%. Orbitex CIO Paul Manson, ...