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General risks: The value of investments, and any income generated from them, can fall as well as rise. Where charges are taken from capital, this may constrain future growth. Past performance is not a reliable indicator of future results. If any currency differs from the investor's home currency, returns may increase or decrease as a result of currency fluctuations. Investment objectives and performance targets may not necessarily be achieved, losses may be made.

Investing in China


Latest Insights

We examine the evolution of China’s capital markets and its potential impact on global markets.
Read more to understand the investment opportunity that we believe China offers.



Read more about our equity and bond funds focused on the growth opportunity in China

All China Equity

  • Why invest in China?

    Why invest in China?

    1. No longer a copycat

    China’s increased innovation has the potential to foster more globally competitive companies and drive the economy

    Patent applications

    Source: WIPO statistics database, December 2018.

    2. Attractive valuations

    Valuations appear cheap versus developed markets.

    12 month forward P/E

    Source: Bloomberg, Investec Asset Management, 19.02.19.

    3. Investors can no longer ignore this asset class

    The inclusion of 20% of China A-shares in MSCI EM index by November 2019 should increase weight to 3%, leading to an estimated US$ 60-100 billion of additional inflows. When A-share inclusion factor reaches 100%, China-A could represent 14.6% of MSCI EM, whilst Aggregate China could represent 41.5%

    Source: FactSet, MSCI, Goldman Sachs Global Investment Research.

  • Why take an all-China approach?

    Why take an all-China approach?

    1. A holistic approach to fully accessthe real China market

    A holistic approach which includes China A-shares, B-shares, H-shares and ADR for the broadest opportunity set andmaximises exposure to best ideas.

    A holistic approach for investing in China

    2. Offers a better representation of the Chinese economy

    An all-China approach provides a better balance from a sector perspective. The MSCI China Index is heavily skewed towards Consumer Discretionary, Financials and Communication Services, whilst the MSCI All China Index has broader sector exposure and is more representative of the domestic economy.

    Sector exposure of MSCI All China and China indices

    Source: Bloomberg, CICC Research, 28.02.19.

    3. Offers opportunities to benefit from pricing anomalies

    Despite the introduction of Stock Connect and other initiatives to increase efficiency, the premium between H-shares and A-shares remains at about 20%-45%. This creates arbitrage opportunities.

    A/H dual listing premia

    Source: Bloomberg, 19.02.19. This is not a buy, sell or hold recommendation for any particular security.

  • All China Equity

    Investec GSF All China Equity Fund



The value of this investment, and any income generated from it, will be affected by changes in interest rates, general market conditions and other political, social and economic developments, as well as by specific matters relating to the assets in which it invests. The Fund’s investment objective will not necessarily be achieved and investors are not certain to make profits; losses may be made. The Fund may use or invest in financial derivatives. Past performance figures shown and any forecasts on the economy, stock or bond market, or economic trends that are targeted by the fund, are not indicative of future performance. Investment involves risks. Investors should read the Prospectus for details, including the risk factors. All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon. This is not a buy, sell or hold recommendation for any particular security. The portfolio may change significantly over a short period of time. This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale.

The value of the shares in the fund and the income accruing to the shares, if any, may fall or rise. Potential investor should read the details of the Prospectus before deciding to subscribe for or purchase the Fund. Investment involves risk. Please refer to the Singapore Offering Documents (including the risk factors set out therein) and the relevant Product Highlights Sheet for details which are available at your bank or financial adviser. Investors may wish to seek advice from a financial adviser before making a commitment to purchase shares of the Fund. In the event that an investor chooses not to seek advice from a financial adviser, he/she should consider carefully whether the Fund in question is suitable for him/her. For more information, please contact your bank and financial advice. this document is issued by Investec Asset Management Singapore Pte Limited (company registration number: 201220398M).