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Komfie Manalo, Opalesque Asia: APS China A Share (Cayman) Fund, the open-ended fund of Singapore-based hedge fund firm APS Asset Management gained 8.05% in the first two months of this year (+0.35% in February), outperforming its benchmark, the CSI 300 by 6.87 percentage points during the period.
In its monthly report, APS said that China's A-share market had a very volatile February amid the broad sell down in U.S. equity markets. Trading volume was also very thin around the Chinese New Year period. The CSI300 index dropped -5.9%, led by YTD winners like the property, financials, and mining sectors. The electronics, steel, and computing sectors managed to finish the month with gains.
It added, "Data from the National Bureau of Statistics showed China's economic structure tilted further toward services and consumption in 2017. The services sector now accounts for 51.6% of GDP, or 11.1 percentage points higher than the manufacturing sector. Consumption contributed to 58.8% of GDP growth in 2017, 26.7 percentage points higher than fixed assets formation."
According to APS, investment in high-tech sectors grew by 15.9%, outpacing the overall fixed assets investment growth of 7.2%. By the end of 2017, China's urbanization rate increased by 1.17 percentage points to 58.52%. Meanwhile, as a result of supply-side reform, the capacity utilization ratio for industrial firms reached 77%, the highest level in five years whi...................... To view our full article Click here
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