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Portfolio

Portfolio
The latest news, analysis and opinion on Portfolio. In-depth analysis, industry insights and expert opinion.
Portfolios reeled from AI-driven shocks in June and July. Photo: Getty Images
China stock market

How China’s young fund managers endured bitter lessons from AI-fuelled sell-off

New portfolio managers were thrust into the spotlight as tech bets soured and client scrutiny intensified during 50-day market turmoil.

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China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Hong Kong

Hong Kong’s new cash-for-residency scheme draws US$12 billion in first 2 years

US-listed Chinese stocks

US funds tread carefully on China as Oaktree and Appaloosa adjust bets

Oaktree exits KE Holdings, billionaire David Tepper’s Appaloosa boosts Baidu stake and Bridgewater stays away from China in third quarter.

Oaktree Capital, founded by notable investor Howard Marks, has sold all of its 1.5 million shares valued at US$26.8 million in KE Holdings, a Chinese online property platform. Photo: Bloomberg
Banking & finance

Exclusive | China’s sovereign fund sidelines executives amid worries over US scrutiny

China Investment Corporation has reassigned three department heads and delayed its 2024 report amid US pressure on foreign inflows.

Singapore

Singapore’s Temasek mulls three-way split to boost returns

The potential reorganisation of Singapore’s state investor comes amid pressure to outperform global indices.

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Wealth management

Asian family offices expand US footprint: Andon Hong Kong opens New York office

The firm manages money on behalf of Shenzhen-listed Andon Health, a Chinese maker of medical devices.

The skyline of downtown Manhattan in New York on March 15, 2022. Photo: Shutterstock
India

Temasek takes a big bite of India’s food market with major Haldiram’s deal

The state investment fund has reportedly bought a 10 per cent stake in the leading Indian food company for US$1 billion.

Investing

SHK Capital Partners joins GAM to expand alternative investments

The alliance will launch an alternative wholesale investment product later this year for family offices and institutional investors, SHK&Co deputy CEO Tony Edwards said, without divulging details.

China stock market

What China’s biggest money manager feels about the economy, market

The government’s target of doubling the per capita GDP to US$30,000 means there is enough growth potential, Zhang Kun says in his fund’s quarterly report.

The Chinese government’s goal to lift per capita GDP could benefit consumer-facing companies, according a leading Chinese fund manager. Photo: Bloomberg
Hong Kong economy

Hong Kong’s new cash for residency scheme receives 251 applications by end of May

Government says if all cash for residency applicants approved, Hong Kong stands to get cash injection of more than HK$7.5 billion.

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A street in Bissau, the capital of Guinea-Bissau in West Africa, which provided 100 of the 251 Hong Kong cash for residency applications. Photo: Handout
Banking & finance

A Bathing Ape’s main shareholder CVC Capital closes its biggest Asia fund

Private equity firm CVC Capital Partners has closed its largest Asia fund to date, shrugging off a challenging macroeconomic environment that has put a dent in fundraising and led many global fund managers to cut their exposure to the region.

Banking & finance

Private-equity investors to return to China in search of M&A deals in 2024: Bain

Global and domestic private-equity investors are making a comeback to the Chinese M&A market following three straight years of decline, as they look to profit from an economic recovery, Bain & Co says.

China stock market

Analysis | China’s desperate stock investors await a stimulus ‘bazooka’

Many of mainland China’s 220 million retail investors are not convinced the government’s recent efforts aimed at reviving the stock market go far enough to set equities on a path to long-term recovery.

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Sentiment has been shaky as top policymakers refrained from launching a policy ‘bazooka’ to kick-start growth. Illustration: Brian Wang
Banking & finance

The View | Harry Markowitz’s work still useful in unravelling messy markets

The last quarter was dominated by narratives of rising interest rates and inflation, yet consumers are spending, job vacancies abound and house prices are firm. What to make of this is unclear, but Markowitz’s work would suggest a robust, long-term portfolio of equities and bonds, perhaps rebalancing every few years.

A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange dealing room in Seoul on July 5. It has not been a good year so far for Asian markets. Photo: AP
China stock market

China’s biggest fund manager raises tech bets on regulatory easing, AI boom

Zhang Kun, who oversees US$13 billion for Guangzhou-based E Fund Management, bought more shares in online delivery giant Meituan and TSMC in the first quarter, betting the worst of a regulatory crackdown was over and that an AI boom would bolster demand for processing chips.

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Banking & finance

‘Higher quotas, more choice’ are key to Wealth Management Connect scheme

Investors and fund managers want to see an increase in the individual investment quota, a wider choice of products and more financial firms joining the bay area’s cross-border channel.

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Banking & finance

The View | As stocks plunge and bonds crater, where should investors turn?

Equities are sliding thanks to inflation, yet rising interest rates are having the same effect on bond returns. This shift is prompting investors to to look beyond the ‘60:40’ paradigm to diversify their portfolios and avoid volatility, raising the profile of liquid alternatives.

A broker talks on his phone outside the New York Stock Exchange building. Photo: AP
Venture capital market

VC firm Hillhouse battles lay-off rumours amid plunging tech stocks

Hillhouse Capital, China’s top private equity firm, has denied it is undergoing large-scale lay-offs after facing earlier rumours this year about its portfolio amid a tech stock sell-off.

Bitcoin

Who keeps crypto going? It’s everyone – from teens to the middle-aged

They call each other ‘fam’, cheer those making money and commiserate with those who get ‘rekt’ by losses – they belong to communities on social media that are driving cryptocurrencies.

Coronavirus pandemic

Covid-19 highlights the need for a hands-on public investor

Singapore’s Temasek is one of several government funds to go beyond their traditional mandate and fight the pandemic. As Hong Kong prepares to launch its own Growth Portfolio, it needs to consider if there’s a larger firefighting role for public investors in a crisis.

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A nurse prepares to vaccinate health care workers at Singapore’s Gleneagles Hospital on January 19. Singapore’s sovereign wealth fund Temasek invested in BioNTech and has supported its efforts to develop a vaccine. Photo: Reuters
Investing

US pressure on investors to eschew China dents capital flows

The US effort to crimp foreign investment into China, combined with the coronavirus pandemic, is weighing on capital flows.

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A Yale University student is seen on campus in New Haven, Connecticut. Photo: AFP
China economy

China’s US$941 billion sovereign fund hunts for assets to beat the market

China Investment Corp is looking for more resilient assets in markets battered by the coronavirus pandemic to improve returns, Executive Vice President Zhao Haiying said in an interview.

US-China trade war

Why did China’s US$940 billion sovereign wealth fund lose money last year?

China Investment Corporation (CIC) saw a 2.35 per cent negative return on its overseas investment portfolio in 2018 in contrast to the gain of 17.6 per cent in 2017.

Macroscope

Macroscope | Time and again, stock markets reward the patient investor

With uncertainty at a record high amid the ongoing US-China trade war, it’s worth remembering that analyses of market performances consistently show the need to stay invested throughout the highs and lows.

At the end of the day, predicting stock market moves over the short-to-medium term is extraordinarily hard. Photo: AFP
Bonds

Opinion | Keep bonds on the books but it is also time to explore equities

Credit Suisse forecasts 10-year Treasury yields will move no higher than 3 per cent over the next 12 months – from 2.9 per cent currently – suggesting only a limited move higher from current levels

Recent volatility in equity markets underscores the role of bonds in a balanced portfolio both as a way of generating modest total returns and importantly, as a means of hedging and diversifying risk, writes John Woods. Photo: Xinhua
Investing

Opinion | Make hay while the sun shines on our markets, but hedge your bets

Investing

The View | Investors needn’t be too worried about geopolitical uncertainties

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