Aug
09
Top Chinese Fund Buys Automaker Shares in Bet Economy Recovering
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A new ‘bust-to-boom cycle’ is starting, fund manager says
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Tianhong is China’s largest fund with $192 billion in assets
Xiao Zhigang is betting China’s automakers will be among the biggest beneficiaries of a resurgent economy.
Xiao, a top-performing money manager at Tianhong Asset Management Co., has been adding Great Wall Motor Co. and SAIC Motor Corp. while reducing holdings of liquor shares. His $30 million Tianhong Stable Growth Mixed Fund has returned 12 percent this year, beating 99 percent of its competitors, compared with a 15 percent drop by the benchmark Shanghai Composite Index…
Top Chinese Fund Buys Automaker Shares in Bet Economy Recovering
