Guinness Global Innovators shifts China holdings on back of political uncertainty

Volatility not an opportunity

clock • 2 min read
Ian Mortimer of Guinness Asset Management

Ian Mortimer of Guinness Asset Management

The £550m Guinness Global Innovators fund recently exited some of its holdings with direct exposure to China, including Tencent, in response to “regulatory and political uncertainty” in the country.

Co-manager Ian Mortimer said he does not view the volatility in Chinese markets, in response to the regulator's crackdown on technology companies and its ban on for-profit tutoring and education companies, as an investment opportunity at the moment. "When it is regulatory or political uncertainty it is very difficult to price because, by definition, you do not know what is going to come next," he said.  "Clearly, what we are seeing in China, I would not say it is unprecedented - we have seen things like that before - but in its scale it seems very large and it seems very broad." Th...

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