Mid Wynd tactically increases exposure to quality, undervalued Asian stocks

Direct exposure to China up to 5%

Mid Wynd International tactically upped its exposure to China and Japan during the coronavirus market sell-off at the expense of its US equity allocation as its management team looked to pounce on good-quality companies trading at depressed valuations.

Direct exposure to China was increased to 5% by the end of March, up from 2% before the crisis, the Artemis team that runs the £256m global equity offering told Investment Week with its US weighting reducing by a similar amount. It also took the opportunity to top up its exposure to Japan at the same time. Simon Edelsten, who co-manages the fund with Alex Illingworth and Rosanna Burcher, said the team has found "better value for money, very strong balance sheets, and companies that are defensive but also have some potential to see a recovery over the next couple of years" in the Far E...