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A well-known fund manager in China, which achieved a return of 134% last year, warned investors in China of the risk of a chase buy.
According to Hong Kong’s South China Morning Post (SCMP) on the 7th, the Rubin Fund manager at HSBC Gene Trust Management said in a letter to investors the previous day that “the risk will probably come from valuation (share price level compared to performance).”
“Some areas have grown unilaterally over the past few years, and will probably be put to the test in 2021,” Lu said.
Manager Lu did not specify the stocks or sectors that had’one-sided growth’, but shares of Chinese consumer goods-related companies and electric vehicle-related companies surged last year.
China’s’CSI300 (Shanghai Shenzhen 300)’ index rose 27% last year thanks to the Chinese government’s handling of the novel coronavirus infection (Corona 19) and economic stimulus policies.
The CSI300 index is based on 300 large stocks listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange. The CSI300 index soared about 4% in the new year alone.
Rubin is a fund manager who manages the’HSBC Low Carbon Fund’ worth 3.1 billion yuan (520 billion won).
This fund recorded the highest return among domestic equity funds in China with a whopping 134% return last year.
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