Is it time to separate China from EM allocations? [Wealth Professional (Canada)]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
Company Research
Source: Wealth Professional
China hasn't been behaving like a traditional emerging market. Once the world's GDP growth engine, China's rapid GDP growth has slowed. The country has been negatively exposed to US tariffs since 2018 and has a problematic real estate sector. At the same time, India, Taiwan, and South Korea as well as major Middle Eastern and Latin American economies are showing the economic growth characteristics that made China such a powerful returns driver in the 2000s and early 2010s. Many emerging market investors are seeking ex-China strategies. That demand is much of why Mackenzie Investments launched their Mackenzie Emerging Markets ex-China Equity Fund in late April. Arup Datta, Head of Global Quantitative Equity at Mackenzie Investments and lead portfolio manager for this fund, explained why his team is offering this strategy now. He emphasized that his team is agnostic and will continue to offer an emerging markets equity fund that includes China. He outlined, however, some of the risks
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