Schroders' Parbrook on 'miserable' 20 years for China investors

Schroders head of Asia ex-Japan equities, Robin Parbrook, said returns from China have been 'miserable' for the last two decades, and warned the country still faces major challenges.

Speaking at a press briefing in Hong Kong this week, the manager of the $1.4bn Schroder ISF Asian Total Return fund said returns for investors have been disappointing because  many of its largest businesses are state-owned or backed, meaning they are less concerned with delivering returns to shareholders. He said: "You would have lost 40% of your money in China over the last 20 years. On a long-term trend, it has been a pretty miserable place - you would have been better in the US." While returns in the last three years from China funds have beaten many counterparts in other sectors, ...