SELECTED INSIDER TRADES

Source: SGX-Masnet 

# Exercise of Rights issue / Share Options / Convertibles / Warrants / Share Issuance.
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Global fund managers starting to get bullish
A bullish mood is filtering back into global markets judging by the results of the latest poll of fund managers by Merrill Lynch.

Superfund's multi-strategy fund for high networth investors
Managed futures specialist, Superfund has launched a new multi-strategy diversified fund named Superfund White in Singapore, one that co-opts several different strategies to achieve consistent high returns with relatively low volatility regardless of the economic or market environment.

Q&A with Henderson Investors Fund Manager: Andrew Mattock
Andrew Mattock, the Singapore-based portfolio manager of the Henderson Horizon Fund – China Fund shares his views on the case for investing in China, which has seen a significant improvement in macroeconomic and market sentiments so far this year.

Offshore & Marine (O&M): Overweight
With general strengthening in commodity markets and global equities rally, oil prices have climbed 70% from the Feb lows. We believe crude oil price will trend higher, driven by OPEC production cuts and signs of recovery of consumer demand.

Telecoms – Overweight
All the three telcos – MobileOne (M1), SingTel and StarHub – reported a pretty resilient set of results recently.

3Ds of Investing - by David Gerald, President/CEO SIAS
Investing is not just about picking the best stock or figuring out how to time the market perfectly; it is about fitting the best investment portfolio to the investor.

Value in mis-priced H-shares, says Henderson
There is currently plenty of value in a swathe of H-shares, or China stocks listed on the Hong Kong exchange according to Henderson Global Investors fund manager, Andrew Mattock.

Semiconductors
The Philadelphia Semiconductor Index had shot up 36.8% since March 2009 amid early optimism of a market recovery. In stark contrast to the negative outlook given just towards the end of 2008, major semiconductor companies, including foundries like TSMC and UMC, are now citing improvements in orders and better utilization rates.

Plantation: Protectionism would distort CPO prices
Demand destruction would be the key factor for 2H09. We are starting to see the introduction of protectionism in emerging countries to safeguard domestic industries. By UOB Kay Hian Research.

Stock Pick
Keppel Corp: Buy (DMG, 25 May), CapitaCommercial Trust: Buy (OCBC Research, 25 May), CapitaCommercial Trust: Neutral (DMG, 25 May), Pacific Andes Holdings: Buy (OCBC Research, 25 May), Rotary Engineering: Outperform (CIMB-GK, 22 May), Adampak Limited: Neutral (DMG, 22 May), Singapore Exchange: Outperform (CIMB-GK, 22 May)