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The views expressed are those of the authors at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.
The short answer: Yes, in our view. China equity is clearly out of favor with global investors these days, but if market history is any guide, it is at such times that shrewd allocators should take a closer look.
Figure 1 shows the rolling 12-month return differential between US and Chinese equities. Given China’s sharp underperformance in recent years, we think today’s valuation level may offer an attractive entry point. In prior periods where China equity has lagged by this much, it has subsequently bounced back strongly.
While longer-term challenges remain that could structurally lower China’s rate of economic growth going forward, we believe a short-term buying opportunity is now available.
Why investing in themes for EM equities may reap rewardsContinue reading
Financial Market Review — Fourth quarter 2022Continue reading
Monthly Market Snapshot — December 2022Continue reading
Why investing in themes for EM equities may reap rewards
Portfolio Manager Dáire Dunne outlines why he is increasingly optimistic about the potential opportunities within select EM equity themes this year.
Financial Market Review — Fourth quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Snapshot — December 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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China’s re-opening and economic recovery from its zero-COVID policy has bolstered our optimism in Chinese internet companies.
Small-cap value: Strong past, bright future?
While equity markets have had a challenging recent past, history teaches us that there may be several reasons to be optimistic about small-cap value.
Thematic investing focus: The future of food
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Navigating the new global economy in 2023
This executive summary distills the points of view of several of our 2023 Outlook authors. Discover the risks and opportunities they see as we enter a new economic and market regime.
China equity in 2023: Year of the stock picker
Despite the potential risks of investing in China equity, Equity Portfolio Manager Bo Meunier believes there are attractive opportunities for patient, discerning stock pickers.
Health care outlook for 2023
Looking ahead to 2023, members of our health care team see meaningful innovation, supportive valuations, and a benign political and regulatory backdrop across biopharma, medical tech, and health care services sectors.
Monthly Market Snapshot: November 2022
Pivoting from innovation and growth to stability and value
In a more volatile world, stability may take priority over innovation, and that, explains Multi-Asset Strategist Adam Berger, would tend to favor value stocks over growth stocks.