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...

FMG (EU) China Fund lost 11.7% in the 4th Quarter and 23.0% in 2018

Since September, lots of economic news was released and it confirms the slower economy, domestic consumption, and export all resulting from previous deleveraging policy. In the past few months, the government has introduced active measures to combat the slower growth...

FMG (EU) China Fund lost 7.5% in the 3rd Quarter

The quarter ended roughly for China during the last week of September, a further escalation of the trade conflict between China and the US, which resulted in the third imposed 10% tariff on US$ 200 billion worth of Chinese goods took effect. Like any trade war, the...

FMG (EU) China Fund lost 7.7% in the 2nd Quarter

Chinese equities suffered from a mix of events during the second quarter that has resulted in downward pressure and market weakness. In June alone, we saw the currency (RMB) depreciate by almost 4% vs the US dollar and the market lost 8% during this month alone....

FMG (EU) China Fund gained +2.2% in the 1st Quarter

China released first-quarter GDP numbers of 6.8%, very impressive for the world’s second-largest economy. Strong domestic consumption, accounting for almost 80% of GDP. Remember before, the GDP growth numbers were government initiated projects, now the strong consumer...
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