Mar
28
China Bull Who Beat 99% of All Bond Funds Says Yuan Drop Is Over
By-
Seaman sees yuan rising on average 2-3% each year over decades
-
He cites China’s current-account surplus and dollar weakness
For an investor whose fortunes are tied to a currency that most forecasters warn is destined to decline, Andy Seaman is surprisingly upbeat.
The manager of Stratton Street Capital’s Renminbi Bond Fund says the shock devaluation of China’s currency in August — and the raft of dire analyst predictions that followed — have failed to shake his confidence. He expects the renminbi, also known as the yuan, to gain against the dollar by the end of 2016 and keep climbing in the years to come, buoyed by China’s current-account surplus, the central bank’s efforts to burn bearish speculators and foreign inflows into the nation’s increasingly open bond market…
China Bull Who Beat 99% of All Bond Funds Says Yuan Drop Is Over
