Navigation Search
Close

Select your location and role to view strategy and fund content

Singapore
  • Global homepage
  • Australia
  • Belgique
  • Botswana
  • Denmark
  • Deutschland
  • España
  • Finland (Suomi)
  • France
  • Hong Kong (香港)
  • Ireland
  • Italia
  • Luxembourg
  • Namibia
  • Nederland
  • Norway
  • Österreich
  • Portugal
  • Singapore
  • South Africa
  • Sweden (Sverige)
  • Switzerland
  • United Kingdom
  • United States
  • International
Professional Investor
  • Professional Investor
  • Individual Investor

Tailored for investment professionals this site provides information on our products, strategies and services. Please remember capital is at risk and past performance is not a guide to the future. We use cookies to ensure that we give you the best experience on our website. This includes cookies from third parties. Such third party cookies may track your use of our website. By continuing you are confirming that you are happy to receive all cookies on our website. Please refer to our Cookie Policy for further information, including steps to take to disable cookies.

By entering you agree to our Terms & Conditions

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.

Advisor

Funds

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. Superior earnings growth

    Superior earnings growth with the potential to continue over the next three years.

    EPS growth China vs. others

    Source: IBES, Morgan Stanley, 31.07.17. *CAGR = compound annual growth rate to December 2016.

    2. Attractive valuations

    Valuations appear cheap relative to history.

    12 month forward P/E

    Source: Bloomberg, Investec Asset Management, 15.11.17.

    3. Global investors are underweight China

    From June 2018, MSCI will include 222 large-cap mainland shares, A-shares, in the MSCI Emerging Market and MSCI All-Country World Indices. This should lead to increased foreign ownership.

  • Why take an all-China approach?

    Why take an all-China approach?

    1. Provides a wider investment universe and range of opportunities

    There are 149 and 1,029 stocks in the MSCI China and MSCI All China indices respectively. Our potential universe is even bigger: there are 3,316 A-shares and 100 B-shares in China.

    Stocks within Chinese indices

    Source: Bloomberg, Investec Asset Management, 31.10.17.

    2. Offers a better representation of the Chinese economy

    An all-China approach provides a better balance from a sector perspective. The China Index is heavily skewed towards IT and Financials, whilst the 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, 31.10.17

    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, 15.11.17. This is not a buy, sell or hold recommendation for any particular security.

  • All China Equity

    Investec GSF All China Equity Fund

     

Disclaimer

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).