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...PAG is one of Asia’s biggest private equity groups, managing more than $55bn....
...While that margin has narrowed from about 4 percentage points a few months ago, Lau warned that this mainly reflected Chinese stocks’ lowered weightings in global equity benchmarks due to the market’s smaller...
...risk — in index-tracking vehicles such as exchange traded funds....
...“Most of the funds are coming back to Hong Kong for the purpose of hedging, to avoid possible interest rate hikes from Bank of Japan and the US stock market turbulence,” said Kevin Liu, equity strategist...
...The People’s Bank of China led record gold purchases by central banks in 2022 and 2023, collectively buying above 1,000 tonnes each year, as emerging markets sought to diversify their reserve holdings away...
...UK equity funds, in particular, are under pressure as investors turn to global stocks for higher returns....
...“Once upon a time you couldn’t buy shares in emerging market tech so you bought an investment trust,” said one hedge fund executive....
...At 75 per cent, the recovery rates within the GEMs data set surpass those reported for Moody’s Global Loans at 70 per cent, Moody’s Global Bonds at 59 per cent, and JPMorgan Emerging Market Bonds at 38 per...
...Equity offerings were expected to pick up this year as investors became more confident that the US — home to the world’s largest equity market — would avoid a recession....
...Flows into equity ETFs totalled €36.8bn during the period, a slight increase on the previous quarter, signalling investors were keen to continue riding the rally in global equity markets, particularly the...
...US equity funds drew $56bn of funds in the week to March 13 — more than the previous peak of $53bn set in March 2021, Barclays said on Friday, citing data from fund tracker EPFR Global....
...The change in demand underscores how global investors are cutting exposure to China, which has long been the largest country in most emerging market portfolios....
...Having sold the stake in the ETFs business and an infrastructure investment business, he is now focusing on active equity management as AssetCo battles negative investor sentiment and volatile markets....
...Flows into emerging market equity exchange traded funds marked a new record in February, as activity by China’s “national team” appeared to continue at pace....
...Hsu regards China’s actions as similar to the Federal Reserve’s efforts to prop up the US market during the 2007-08 global financial crisis....
...Various global or regional variations of its research-enhanced equity series, which seeks to “modestly” overweight stocks deemed to be overvalued and underweight those seen as overvalued, with low tracking...
...A wave of domestic buying by China’s “national team” of large, state-affiliated institutions helped propel overall net inflows to emerging market equity exchange trade funds to record levels in January....
...But investors are increasing allocations to global equity funds, an indication that they are seeing opportunities outside of mega-cap stocks....
...“You have the China complications, but you also have the broader market complications,” said Waldrop. “For those [China-focused] funds it’s a particularly acute issue.”...
...The recipe for managing the Government Pension Fund Global has been broad and systematic risk diversification and economies of scale in open public markets....
...Wall Street’s blue-chip S&P 500 index captured its highest share of global equity exchange traded fund flows for at least a decade last year, as the rise of the so-called Magnificent Seven reshaped benchmarks...
...Simultaneously, emerging market ETFs pulled in $1.8bn, with 110 per cent of these flows ($1.9bn) being directed to funds that exclude China: those that do include the country witnessed small outflows....
...How will the world’s pre-eminent superpower fund itself? Will the dollar remain the key global reserve currency?...
...of the Asian and emerging markets equities funds upon which Aberdeen Asset Management made its name....
...Investors could also look at increasing their exposure to passive funds tracking European or emerging market indices, or diversify away from equities by considering multi-asset funds....
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