PM Capital cheap for China exposure

It's off many investors' radars, but PAF remains a cheap option for Chinese exposure.

PM Capital Asian Opportunities Fund’s focus on companies operating in Asia (ex-Japan) has meant that many of its holdings have been affected over the past year by increasing concerns over whether Chinese authorities can successfully transition the country from an investment-led economy to one led by consumption. These concerns have not only impacted companies directly involved in the Chinese economy, but also those indirectly impacted by it due to their dependence on the Chinese consumer.

Given this, we were happy to see portfolio manager Kevin Bertoli take advantage of the market pessimism in the first quarter of calendar year 2016 – and in particular in January and February – to take PAF to a fully invested position.


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