Please take note that the website you are about to access (“Site”) is intended only for international retail (individual) investors. The Site is not intended for, or permitted to be accessed or used by, any retail (individual) investors or institutional investor resident or situated in South Africa or the United States of America (including each of its states, territories and possessions), or any other country or territory which restricts the distribution of this information. Persons accessing this Site are required to inform themselves of any relevant restrictions and observe them.
Ashburton Investments does not in any way represent, recommend or propose that any securities and/or financial or investment products or services that may be referred to in this Site are appropriate and/or suitable for a particular investment objective or financial situation or needs. You should read the relevant Prospectus or Terms and Conditions in order to obtain detailed information and you should always consult a suitably qualified professional adviser to obtain appropriate financial, legal, tax and other advice.
Ashburton Investments is a registered trading name of Ashburton (Jersey) Limited (“Ashburton”) which has its Registered Office at
PO Box 239, IFC1, The Esplanade, St Helier, Jersey, JE4 8SJ, Channel Islands and which is regulated by the Jersey Financial Services Commission.
While all care has been taken by Ashburton in the preparation of the information contained herein, Ashburton does not make any representations or give any warranties as to the correctness, accuracy or completeness, nor does Ashburton assume liability for loss arising from errors in the information irrespective of whether there has been any negligence by Ashburton, its affiliates or any other employees of Ashburton, and whether such losses be direct or consequential.
Singapore investors – The Ashburton Investments SICAV – Global Defensive Fund, Global Balanced Fund, Global Growth Fund, Africa Equity Opportunities Fund and India Fixed Income Opportunities Fund have been entered into the List of Restricted Schemes by the Monetary Authority of Singapore and are available to Institutional Investors as defined by Singapore laws. This information contained on this Site does not constitute an offer to sell and should not be taken as a substitute for the offering document of the relevant restricted scheme. You are advised to read the Ashburton Investments SICAV prospectus and relevant Singapore wrappers which are available free of charge at www.ashburtoninvestments.com.
By clicking “ACCEPT" below, you consent to the above terms and conditions and, in particular, you confirm that:
Click here to view the terms and conditions of this website.
The Chindia Fund (I class) declined 3.6% during the month, less than the emerging market index decline of 5.3%.
Our Chindia Fund declined 2.4% against the emerging market universe which fell 4.7%.
In stark contrast to 2018, December 2019 saw a Santa Claus rally with global equities performing strongly and many markets reaching new all-time highs.
The performance of the China portion of the portfolio was strong especially that from Alibaba, an 8% position, which returned 18% during the month
The Chindia strategy is being aligned more closely with that used in the successful Global Leaders strategy.
Chinese equity markets were flat on the month, trade war rhetoric de-escalated with trade talks being put back on the table.
Chinese equity markets continue to see heightened volatility and falling returns as trade wars between the world’s two largest economies escalate.
Chinese equity markets generally went sidewards, with the MSCI China Index finishing the month slightly lower and little commentary on trade tensions.
China increase tariffs on a number of US products being sent to China
Geopolitical tensions reignite following Trump’s escalation of China trade war
Trump’s trade narrative with China continues and India’s long-term domestic demand story remains intact
When walking investors through the quantitative process we adopt within our China strategies, one topic that is frequently discussed is how often we ‘override’ our models.
Chinese equities continue to rally while Indian real gross capital formation rose YoY
Catalysts for the Chinese equities rally in January include expectations for a positive outcome to the US-China trade impasse as well as a softening rhetoric on further US Federal Reserve rate rises.
The governor of the Reserve Bank of India’s sudden resignation took the markets by surprise.