Hedge Fund That Beat 98% of Peers Says Buy in Vietnam, Not ChinaBy
Fenghe Asia Fund positive on Vietnam, Philippine economies
Tourism, new energy, health care among favored industries
An Asian hedge fund that trounced peers by shorting China-related shares during a market rout last year is still bearish on Asia’s biggest economy, while seeing the region’s best opportunities in Vietnam and the Philippines.
Deng Jiewen, who helps run the $65 million FengHe Asia Fund with F&H Fund Management’s co-founder Matt Hu, said in an interview from Singapore that Southeast Asian economies are doing a better job than China in boosting domestic consumption and attracting foreign investment. Chinese stocks face a difficult road ahead because of deteriorating earnings, Deng said. The fund surged 20 percent in the past year as Asian stocks tumbled…
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