Breakfast and Presentation
The question on many investors' minds today is whether China is investable, following the 2018 trade war, distress from unexpected regulatory reforms last year, China's "no-limits" partnership with Russia, the threat of US-listed Chinese ADR delistings, and additional lockdowns this year, which have affected Chinese economic growth. Unsurprisingly, the Chinese market has sharply underperformed other countries over the last year and a half. However, of all global markets available for public investment, China is arguably the richest hunting ground for high quality companies boasting durable competitive advantages, sustainable growth, financial strength, and quality management teams. Not only that, but there may be fair winds and following seas ahead. Regulatory pressures appear to be easing and the government seems intent on shoring up economic stability through fresh stimulus measures. And – at current valuations, bargains abound.
Fresh off of a recent trip to China to visit companies, where she endured nearly four weeks of a grueling quarantine amidst strict lockdowns, Portfolio Manager Wenting Shen returns to the CFA Society St. Louis to share her updated insights on key market topics as well as themes and trends across sectors.