Ask The Experts: Gaining Exposure to Chinese Consumption Through These Quality Companies
Nicholas Yeo, Director and Head of Equities at Aberdeen International Fund Managers Limited, explains the rationale for the top three holdings of the Aberdeen China Opportunities Fund.
Can you briefly talk us through the rationale behind the fund's top three holdings (Jardine Strategic Holdings, Swire Pacific, ASM Pacific Technology) especially in Jardine Strategic Holdings which has a 7.0% allocation?
- Fund is positive on domestic consumption story but is not the way the fund selects stocks
- Easier to find companies that the fund can buy and hold for a long time in the consumption space
- Jardine Strategic is a good example. Under its group of companies include names like Dairy Farm which owns 7-11 franchises across Asia, Cold Storage in Singapore, Wellcome in Hong Kong, and also the Ikea franchise in Hong Kong
- Largest contributor of assets to Swire Group is Swire Properties, which is also geared towards consumption
- Owns Pacific Place in Hong Kong which houses many luxury brands
- Hong Kong is a key beneficiary of Chinese consumption, especially in the luxury goods space where products are 30% cheaper in Hong Kong
- Similar to Jardine, also very conservative when expanding in China
- ASM Pacific Technology is probably the only technology stock owned by the fund
- Does equipment packaging for the semi-conductor industry
- Leader in this field and has been able to take over its Japanese counterparts due to low cost structure
- Good company with Research & Development facilities in Singapore and strong innovation capabilities
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| 播出日期 |
11 April 2012 |
| 片长 |
00:04:54 |
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Ask The Experts: Gaining Exposure to Chinese Consumption Through These Quality Companies |
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