In this latest update on Asia Pacific equities, we provide some insights into our current portfolio positioning and a performance review of the regional Asia Pacific funds.
We last wrote to you well over six months ago, but we have been rather busy trying to keep up with recent events as well as the market’s response. In our last review, we concluded that things were about to get messy. Are we now witnessing something of a revolution?
As bottom-up investors, we do not invest on the basis of what we believe might happen in the world of macro, but we are not complacent about the top-down risks to client portfolios either. When we meet with companies, we think about what might help or hinder them and what they are seeing in terms of cyclical changes.
However, we recognise that the future is thoroughly unpredictable (as recent events must surely have once again proven) and so we spend our time and effort – not on trying to predict the unpredictable – but on trying to find those management teams and businesses that have over time and in a proven manner managed to navigate the swings and roundabouts of various cycles.
Our general cautious stance and positioning across our Asia Pacific portfolios have not changed very much at all over the last six-to-nine months. In this latest update on Asia Pacific equities, we provide some insights into our current portfolio positioning and a performance review of the regional Asia Pacific funds.
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