U.K. fund manager has no plans to invest in China 'anytime soon'

GDP-stock market disconnect makes China a 'terrible' investment destination

International investment banks are increasingly shifting their attention to other markets in Asia besides China, but there are none that offer its sheer size. © Reuters

ECHO WONG, Nikkei staff writer

January 4, 2024 21:17 JST

HONG KONG -- While top global banks were anticipating a bull run for the Chinese market at the start of 2023, European asset manager Jupiter chose to stay on the sidelines, a decision that helped it avoid the disappointment that followed the country's weak post-pandemic recovery.

Sam Konrad, co-investment manager of the 52 million pound ($66.6 million) Jupiter Asia Pacific Income Fund, said the fund sold the last of the Chinese companies in its portfolio, mostly consumer staples, in July of 2022 and has not returned to the market since.