China Consumption Bets Are Too Optimistic, Top Global Fund Says
- Consumption rebound has been priced in too fast: Hinchliffe
- Two out of the fund’s 44 holdings are listed in Hong Kong
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Bets on a rebound in consumption in China are overdone, according to a top-performing portfolio manager.
Markets have recalibrated rapidly since China’s reopening and “that opportunity has closed really quickly,” said Rob Hinchliffe, who manages the $555 million PineBridge Global Focus Equity Fund. “Valuations aren’t as attractive,” he said in an interview on Monday.