21 hours ago
China Fund Beats 97% of Peers by Buying Pop Mart, Dumping Moutai
A 30-year old Chinese fund manager is trouncing peers this year with a portfolio stocked with Gen Z-favored names like Pop Mart International Group, betting that new-age shopping trends can help his fund overcome the country's economic sluggishness.
Xie Tianyuan's Penghua Selected Return Flexible Allocation Mixed Fund has returned 24% this year, ranking in the top 3% among roughly 2,300 peers, data from fund tracker East Money Information Co. show. That's a turnaround from its recent past when holdings in traditional sectors like alcoholic beverages and farming dragged performance. A gauge for Chinese stocks listed in Hong Kong has risen 20% this year.
