Bestinvest says
Manager Philip Ehrmann has more than twenty years of experience in emerging market investing. He has outperformed the benchmark during his time managing Chinese funds at Jupiter and previous employer Gartmore, but performance has been volatile.
The fund's objective is to achieve long-term capital growth through investing principally in companies operating in China (including Hong Kong) but may also invest in companies operating in other countries which, in the Manager’s opinion, conduct a material proportion of their business in China (including Hong Kong) or derive a material proportion of their earnings from activities in China.
The management takes a thematic approach, looking for economic trends such as the development of the domestic consumer then searching for stocks that will benefit from them. Research is primarily internal, with company meetings and visits a key part of the process. Cashflow generation is the key valuation metric used, as the manager believes this provides a better measure of growth in a region where accounting standards are less mature.