This article first appeared in The Edge Malaysia Weekly, on November 17 - 23, 2014.
Documents sighted by The Edge show that the primary objective of the Bridge Global Absolute Return Fund SPC is to seek long-term capital appreciation and/or steady income from investments in listed and/or unlisted companies.
The fund, however, lists a number of risk factors, suggesting that its investments will be of a high-risk nature. Following are excerpts from the fund’s documents:
The people managing the fund are as following:
Lee and Lin are shareholders/directors of Bridge Partners Investment Management Ltd, while Goh is a director of Bridge Global Absolute Return Fund.
From the information about the Bridge Global Absolute Return Fund and the people managing it, it raises the question of why 1MDB parked US$2.3 billion (RM7.67 billion) of borrowed money in such a high-risk portfolio fund. And how does it fit in with 1MDB’s stated mission to drive sustainable economic development and promote foreign direct investments?
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