Gartmore's Awdry adds exporters to China fund

Gartmore China Opportunities fund manager Charlie Awdry has increased exposure to exporters despite Beijing's tightening economic policy.

Awdry says signs of a global recovery have led him to move the £692m fund overweight in companies expected to benefit from overseas demand. "We've focused fairly consistently on growth trends in domestic China over the last three to four years but, with signs emerging of a recovery in the rest of the world, we've moved to an overweight in export plays too", Awdry says. "One example would be the global trade sourcing business, Li & Fung, which has just won orders from Wal-Mart worth US$2bn in the first year." China took its first concrete steps towards tightening economic policy las...