The China Focus Equity Strategy aims to outperform its benchmark, the MSCI China Index, by at least 3% per annum over a three-year rolling period. It targets high returns and long-term capital growth by investing in a portfolio of primarily equity and equity-related securities. The strategy is able to invest in any stock whose business activity is substantially derived from China. Holdings will tend to be a combination of A shares, H shares and Chinese ADRs. Thus, the strategy offers exposure to a broad range of Chinese companies across several markets.
The China Focus Equity strategy targets strong excess returns by primarily focusing on bottom-up stock selection, but with an awareness of the prevailing macroeconomic conditions.
We believe in investing in leading companies, operated by honest and competent management in industries that are structurally attractive. This gives the portfolio a growth and quality focus. However, we are firm believers in the concept of intrinsic value and retain a strong valuation discipline.
As the investment philosophy focuses equally on quality, growth and valuation, the portfolio does not have a significant style bias. It is expected to typically demonstrate higher earnings growth, higher dividend growth, superior ROE, and less leverage than the index. These attributes are expected to be achieved whilst maintaining a valuation similar or cheaper than the MSCI China index as a whole.
Portfolio construction is the synthesis of idea generation, conviction and risk management. The strategy will typically hold 30-35 stocks, and aims to have an active share that is consistently well above the median of our peers.
The following aspects of our investment process provide an edge and set the TT proposition apart from the competition:
Marco is Portfolio Manager of our China Focus Equity Strategy and a member of TT’s Ideas Factory. Before joining TT in 2013, he was in the Asian Equity Team at Manulife Asset Management. Marco graduated with a BBA from Wilfrid Laurier University and is also a CFA Charterholder.
Read some of Marco Li's articles and insights in our 'What We Think' section.
Edward Choi is a Senior Asia Analyst and member of TT’s Ideas Factory. Before joining TT, he was an Associate at Bain Capital. Edward achieved his MBA at The Kellogg School of Management. He graduated with a BSc from Cornell University and is also a CFA Charterholder.
Citywire Euro Stars Top Manager
Duncan is Portfolio Manager of our Asian Equity Strategy. He is also a member of our Ideas Factory, focussing on the Pan-Asian Financials sector. Before joining TT in 2014, Duncan was a Senior Portfolio Manager of the Global Emerging Markets Fund at USS Investment Management. He graduated from the University of Bristol with a BSC in Economics and Finance. Duncan is also a CFA Charterholder.
Read some of Duncan Robertson's articles and insights in our 'What We Think' section.
Sebastiaan is a Portfolio Manager of our Global Emerging Markets Strategy. As a member of TT’s Ideas Factory, he is responsible for providing investment ideas across all of our Emerging Market strategies. Prior to joining TT in 2010, he was Head of Emerging Markets at Fideuram Asset Management. Sebastiaan graduated from Erasmus University, Rotterdam, with an MSc in Business Economics. He is also a CFA Charterholder.
Kathy is an Asia Technology Analyst and member of our Ideas Factory. Prior to joining TT in 2020, she worked as a Chinese Equities Analyst at Value Partners in Hong Kong. Before that, she was an Equity Analyst at Credit Suisse. Kathy graduated from Hong Kong University of Science and Technology with a BBA in Accounting and Finance.
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