abrdn China Equity Fund Q4 2024 Commentary

2025-03-28 06:40:00 ET

Summary

• The Fund returned -6.88% this quarter, underperforming the index, primarily due to stock-specific disappointments like Proya Cosmetics and Sungrow Power.
• Positive contributions came from below-benchmark exposure to materials and real estate, zero weighting in energy, and gains from Contemporary Amperex Technology and Fuyao Glass.
• Initiated positions in Foxconn Industrial and Satellite Chemical, while exiting Glodon and StarPower Semiconductor for better opportunities.
• Cautiously optimistic about Chinese equities in 2025, with attractive valuations, strong domestic policy tailwinds, and a balanced portfolio to mitigate potential volatility.

Fund performance

The Fund returned -6.88% (Institutional Class shares, net of fees, US dollar terms) over the quarter, underperforming the index, which was down by 5.04%. 1...

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