Asia ex-Japan fund positioning insights

Copley Fund Research

Steven Holden’s latest report mentions record fund ownership in Vietnam, with over a third of Asia ex-Japan funds now invested in the country. Average funds have now hit a record high of 1.01%, led by a rotation into financials and tech stocks, and key players such as JP Morgan and Fidelity signalling increased confidence in the Vietnamese market. Another rotation is also underway out of Chinese real estate into Indian equivalents, leading stocks like Phoenix Mills, Macrotech Developers, and DLF Limited to reach new ownership highs. In contrast, fund managers are reducing their positions in Hong Kong Exchanges and Clearing, with the stock falling to the 7th most widely held in the financials sector, reflecting a broader shift towards South Korean financial stocks.

- 06 September, 2024