Pidcock: There is something rotten in China

Newton's Jason Pidcock has called into question opportunities in China, despite official figures showing the economy is expanding at 7%, and said there are much better opportunities elsewhere in Asia.

The manager of the £4bn Asian Income fund - speaking at a Chelsea Financial Services Investment Dinner - said Chinese companies increasingly lack the ability to control their own destiny, with government interference continuing to affect equity performance. "There is something rotten in China," he said. "We do not care about the GDP number, and in fact you tend not to see the kind of profit numbers you would expect from Chinese companies, given the GDP number. "There are few sectors you can invest in within China which are in charge of their own destiny." As a result Pidcock (pictu...