Graham Duce

“The slowing economic data from China has created concern with investors that the engine of world growth is stalling and that could fuel a second global recession. However we believe that the slowing growth within China shows the authorities are succeeding with their policy measures and the government are more likely to accelerate stimulus to ensure growth and stability. With this in mind we increase the portfolio exposure to Asia via our core Asia fund Veritas. While there are higher beta ways to gain exposure to the region we believe flexibility and a stock picking skill are required.”