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Credit market issues will not 'derail Chinese growth'
01 May 2008
Baring Asset Management said that both medium and long-term investment opportunities for the economy in China look positive.
William Fong, manager of the newly-launched Baring China Growth fund, said: "We firmly believe that China and Asia represent fundamentally bright spots in an increasingly gloomy world and that economic fundamentals in the region should act as a strong buffer against the events in the US credit markets."
Domestic consumption is blooming and secular growth and improving corporate governance should drive a derating, he continued.
Baring Asset Management added that the rapid build-up of domestic savings and the recycling of retro-dollars should continue to attract increasing asset allocation into Asia and China.
Previously, the firm said it was confident of the potential of emerging market equities as domestic demand within Asia remains robust and companies are well positioned to benefit from domestically generated economic growth.
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