Invesco overweight on China, likes some Hong Kong REITs

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Global asset manager Invesco is overweight on Chinese assets in its Asian funds and adding exposure to Hong Kong's beaten-down real estate sector where dividend yields are lucrative, according to one of its Asian portfolio managers.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

10 Nov 2023

The $2.5 billion Invesco Asia Equity fund grew its Hong Kong and China position over the year, while taking profits from a successful bet on Indian equities, Singapore-based fund manager Fiona Yang, who helps manage the fund, said.

«We see a lot of immensely attractive, single-stock investing opportunities in China, even with a much weaker macro backdrop,» Yang said.

That is in spite of heavy foreign selling as China's post-COVID recovery has disappointed and sentiment has soured. The Atlanta-headquartered firm's move shows at least some big foreign investors are turning positive on the outlook.

«With investor expectations much lower as compared to the beginning of 2023, a lot of these portfolio companies that we have in China can out-deliver the lowered expectation,» Yang said in an interview.

«Even if the market