Forey ups China to largest ever weighting

‘Comforting' economic fundamentals and cheap valuations spur Emerging Markets manager to increase China weighting.

Austin Forey has moved the £1.1bn J.P. Morgan Emerging Markets fund to its largest ever weighting in China following the recent sell-off in equities. China is the fund’s largest geographical weighting, at almost 21%, a 3.7% overweight to the benchmark. Forey said this level of conviction in China is unusual for the portfolio.  “We expect China’s economy to continue growing, although maybe not as fast as in recent years,” the manager said. “China offers a strong contrast to other EM economies – the government does not have financial problems, the banking sector has surplus of deposits...