Keep your eye on quality stocks. That paid off in the first quarter of 2001. Pan, a Taiwan native who joined the fund in 1996, has skippered it through two market crises and now a global tech-stock downturn. Each year, he has outstripped the benchmark adjusted for exchange-rate movements. So volatility doesn't faze him.
Investors say local companies have an edge as low-cost producers.
Pan foresaw the first-quarter rebound late in 2000. Now, Pan, sensing the fragility of the gains, has sold broadly and repaid his loans. United Microelectronics Corp. He likes their management and financials. Pan also likes motherboard maker Asustek Computer Inc., which is cultivating local clients to hedge against falling U.S. orders. If you always try to be No. 1, you'll end up last someday.