A second year in the top 10 for Anthony Wong, but this time on his own.

Last year, Wong and former co-manager Sunny Chung occupied eighth spot for their performance in Chinese equities, but Chung left the Frankfurt-headquartered group over the summer of 2021.

For Wong, however, it is business as usual while being the sole portfolio manager across a host of regional-specific strategies. ‘Our investment style is sustainable growth at a reasonable price. We aim for the portfolio to represent diversified exposure to China’s economy and future growth prospects,’ he said.

Wong’s main emphasis is on research. ‘[This is] where we see our edge and is the main driver of returns.

‘We pay a lot of attention to risk management, trying to mitigate the impact of the inherent volatility in China’s equity markets.’

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ANTICIPATING TRENDS

China has not been the easiest market to navigate in recent years, with property sector concerns, coupled with trade tensions and also clampdowns on various markets. Wong said being able to track trends before they develop into something more challenging is a major positive.

‘A key call was to identify at an early stage that the renewable energy sector was a structural, long-term growth opportunity. Previously it had been viewed and valued by the market as a cyclical space. As a result, we benefited from both earnings upgrades and a re-rating of a number of solar stocks in particular.’

the long-term view

The Chinese market has an intriguing future ahead, which Wong said is reflected in the significant de-rating of structural growth stocks. ‘Many of these companies are well-positioned to benefit from China’s long-term transition to an economic model based more on areas such as technological innovation.

‘A key challenge will be timing the entry point into these types of stocks,’ he said.