Thailand Recovered Satisfactory after Political Turmoil

Thailand market has recovered strongly after the resolution of the political situation. As of 1130 the market has rallied 2.7% and is still trending up. The thailand market has help up admirably over the months despite the uncertainty. This has given us a clue to stay in the thailand market. The philipines market rallied after a political turmoil too, but we moved out of the market due to the steep correction. It seems that opportunity investing into political is very profitable. Let observe if there will be future political uncertainty and if the market always move up after that.

Korea consolidated at the 100-Day for a good 2 mths. RSI is heading higher. Today Korea made a decisive move above 1,375. We're buying into the Korea market.

Peformance as at 31 Mar 2006

Month	2005	2006
Jan		7.78%
Feb		0.39%
Mar	-0.41%	2.90%
Apr	-1.53%
May	-0.91%
Jun	1.40%
Jul	2.44%
Aug	2.87%
Sep	3.11%
Oct	1.69%
Nov	2.54%
Dec	2.60%

NAV as at 31 Mar 2006: $1.2572

Current Holdings as at 31 Mar 2006

Fund	Invested Amt from Switch	Current Value	% of Portfolio	Profit/Loss since switch	% Profit since switch
Aberdeen Indonesia Equity	2,786.80	3,568.19	16%	781.39	28.0%
Aberdeen Thailand Equity	2,774.49	3,501.24	15%	726.75	26.2%
DBS Enhanced Income SGD	3,478.44	3,491.81	15%	13.37	0.4%
DBS Shenton Twin City	2,472.30	2,660.70	12%	188.40	7.6%
HSBC Chinese Growth	2,759.13	3,684.66	16%	925.53	33.5%
Infinity European Stock Index	2,472.30	2,553.73	11%	81.43	3.3%
UOB United Global Healthcare Fund	3,482.02	3,499.60	15%	17.58	0.5%