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FMG (EU) China Fund gained 16.8% in the 2nd Quarter

China expects to return to positive GDP during the quarter despite a virus setback in Beijing.  Equities rallied in June driven by the continued expectation of recovery from COVID-19 and and from global money printing. The non-manufacturing PMI Index went above the 54...

FMG (EU) China Fund lost 8.2% in the 1st Quarter

China has outperformed other emerging markets during the quarter as the Chinese government took drastic measures to stop the covid-19 from spreading.  When number of virus-related deaths started to drop and the trend continued, factories resumed operations back to...

FMG (EU) China Fund lost 4.3% in the 2nd Quarter

The MSCI China index is now trading at a P/E of 10.2 for 2020 with earnings for this year of over 20%. The on-going trade war explains the difference.  The A-share factor in the MSCI index doubled from 5% to 10% by end May and this brings the A-share weight in the...

FMG (EU) China Fund gained +19.3% in the 1st Quarter

Investors were duly rewarded during the quarter after a sluggish 2018.  As investors returned from their Chinese New Year holiday in February, the A-share market’s momentum accelerated and the market was up 15.0% for the month, the largest gain in four years since the...
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