First State China Fund Secures Gold Rating

Impressive performance, an experienced management team and a lower-than average fund fee means analysts have confirmed First State Great China Growth's Gold Rating

Morningstar Manager Analysts 6 October, 2014 | 4:58PM
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First State Greater China Growth is one of our best ideas for Greater China equity exposure. 
Top-notch portfolio manager Martin Lau has led this strategy for more than a decade and brings 19 years of investment experience to the table. In addition to this fund, he manages a number of Greater China and Asia Pacific mandates where he has proved to be an expert investor in the region. He is supported by a sizable Asia Pacific ex-Japan equities team that contributes to an array of successful First State Stewart strategies and is one of the best resourced teams in the region, in our opinion. 

The team applies a tried-and-tested bottom-up stock selection process where it looks for companies with quality management, sustainable and predictable growth and attractive valuations. Lau invests with an absolute return mind-set and pays little heed to the benchmark when constructing his portfolio.

Therefore, sectors that are typically smaller in the benchmark may be more prominent in this fund, and vice versa. For example, the August 2014 portfolio had 10.47% of its assets in consumer staples compared with the MSCI Golden Dragon index’s 3.11%. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
FSSA Greater China Growth A GBP Acc11.94 GBP-0.31Rating

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Morningstar Manager Analysts

Morningstar Manager Analysts  research and rate hundreds of OEICs, unit trusts and investment trusts available for sale in the UK.

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