EFG Asset Management launches China fund for Mansfield Mok
EFG Asset Management has launched the New Capital China equity fund for Mansfield Mok, the manager it recruited in a coup from GAM in May.
It is the ninth sub-fund in the unit’s New Capital mutual fund range.
Mok had co-managed the $1.5bn GAM Star China equity fund while at GAM. During his five year tenure there, the portfolio outperformed the MSCI China Index by 72.1%.
The launch at EFG follows its launching last year the New Capital Asia Pacific equity income fund, managed by Tony Jordan – reflecting the firm’s general conviction that Asia holds the potential for positive returns.
It also reflects the growing importance of Asia as client base for EFG Asset Management, and its parent private bank.
Mok (pictured) said: “China is widely expected to become the leading economic superpower over the next five to 10 years.”
CIO Moz Afzal added: “With important trends such as the rise of the Chinese consumer, deregulation, healthy corporate balance sheets, alongside strong long-term growth fundamentals and attractive valuations, it remains a key source of long-term investment returns.”
The new fund will invest in up to 50 Chinese and Hong Kong stocks across all capitalisations, combining a bottom-up stock selection approach with top-down sector analysis. It will not follow a benchmark or a specific investment style.
EFG Asset Management is the asset management arm of EFG International, a global private banking group headquartered in Zurich, with investment professionals based in London, Switzerland, New York, Hong Kong, Singapore and Miami. It manages around $7bn of client money.