JSS Equity – All China: Investment Update
The JSS Equity – All China outperformed its benchmark index by 1.4% in the second quarter of 2022, returning +4.3% (P USD acc). Since its inception in December 2019, the fund has returned 19.9%, outperforming the benchmark by 15.7% until the end of Q2 2022.
Chinese equities have clearly outperformed global, US and emerging market equities year to date until the the end of Q2. When Covid case numbers eased and restrictions were lifted in June, business activity resurged. Low inflation enables continued stimulus measures. The regulatory backdrop in China has improved for the tech sector. The Party Congress in the autumn of 2022 is expected to provide further policy clarity. The PM sees many attractive opportunities in renewable energy, high-end consumption and the electric vehicle value chain.