Liontrust's Williams: Where to look for Asian income

Mark Williams, manager of the Liontrust Asian Income fund, is targeting Chinese and Indonesian stocks at launch but expects to hold no stocks in India or Korea.

Favouring non-state owned companies, the fund, launched this week, is targeting China's domestically-driven areas such as the consumer discretionary sector, and is also looking at higher-yielding companies in Indonesia, but will avoid export-oriented sectors linked to Western world prosperity. "China and Indonesia both have positive real interest rates, falling inflation and strong structural change occurring," Williams said. "But we are not targeting the exporters; there is a large amount of low-end manufacturing that we are still very sceptical is not going to struggle in the next 6...