Fidelity Worldwide Investment has launched a UK onshore version of its China Consumer fund, which aims to take advantage of the pro-consumption government policies and urbanisation.
Raymond Ma, the manager, aims to create a portfolio with a pure exposure to China’s consumer market. He invests predominantly in companies which produce products specifically tailored to the needs of Chinese consumers.
“What really excites me about managing this fund is the fact that as Chinese consumption grows so does the number of potential investment opportunities,” Ma says. “The Chinese consumer sector is expanding rapidly with over 100 consumer-related initial public offerings now being made every year.”
Ma typically selects between 80 and 120 local companies for his portfolio.
Chinese consumer companies have launched almost $485 million (€565 million) in initial public offerings in Hong Kong, according to market reports. While this may be seen as a sign of confidence following several weeks of no deals, investors have turned cautious as markets worldwide remain volatile.
The new onshore version is a mirror image of the offshore fund launched in February.
©2011 funds europe
