The Animal Spirits Of Chinese Equities

This is followed by Veritas China GBP A (79.1% over three years), a long-short hedge fund, and itself only £70m. 

Hot on its heels, however, comes Baillie Gifford China C Inc, at 79%, with the other share classes following in quick succession. We’re back in familiar China stock territory here, with the two top holdings being Tencent (9.5%) and Alibaba (9.2%). It’s also got a Lipper Leader consistent return score of 5—the highest possible. 

It’s notable that most returns across these two Lipper Global Classifications have been over the past year, with average one–year returns being 47.4%, while the three-year average is 37.2%, indicating just how strongly the Chinese market bounced back from COVID. Rats are, after all, notoriously agile creatures. It remains to be seen whether the solid old ox can continue this bull run. 

Or maybe we shouldn’t read too much into these ‘animal spirits’.  

* As was the 2008 global financial crisis—maybe there’s something in this Chinese astrology stuff. 

Refinitiv Lipper delivers data on more than 330,000 collective investments in 113 countries. Find out more. 

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