Ninety One launches domestic China fund
Ninety One, the new name for Investec Asset Management, is to launch a Global Strategy- China A Shares fund which will open up access to China’s domestic markets.
Ninety One, which changed from Investec earlier this year, said the fund would be a best ideas approach investing in onshore Chinese equities which had offshore flexibility. It would be high conviction and style and size agnostic.
It would be managed by Greg Kuhnert and Wenchang Ma as part of the firm’s Luxembourg range and the firm said it had seen “strong demand” for this type of product.
China A-shares, those shares of mainland China companies, were gaining increasing representation in wider indices after 20% were included in the MSCI Emerging Market index last year, taking China’s total weight to 41%.
“As first in and out of the crisis, China is leading the rest of the world in recovery from COVID-19 on both an economic growth and earnings perspective. Consensus earnings revisions are trending downward, but China is expected to be more resilient than its global peers, particularly in the onshore A-share market,” Ninety One said.
“With their typically greater domestic focus, China A-shares have outperformed emerging market and offshore peers through the crisis and beyond, supported by abundant liquidity and sentiment.”
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Laura Dew
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