Product category:
Investment funds
News Release from: Gartmore | Subject: Investment funds
Edited by the Insidemoneytalk Editorial
Team on 18 February 2008
Silver anniversary for Gartmore's China
Opportunties Fund
As the Chinese New Year celebrations comes to an end, the award winning[1] Gartmore China Opportunities Fund approaches its 25th anniversary[2]
Launched in 1983, the Year of the Pig, the Fund enjoyed an exceptionally successful 2007 returning an impressive 71.2%[3], making it the best performing UK mutual Fund over the year[3] Charlie Awdry, manager of the £761m4 Fund provides his outlook for the Chinese economy and highlights some key themes for 2008
This article was originally published on Insidemoneytalk on 25 Oct 2007 at 8.00am (UK)
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"China's economy has been growing robustly for the past five years as the Country continues to create a modern socialist economy.
"As we enter the Year of the Rat, there is much to be positive about.
"China is currently experiencing an energy intensive phase of development, so commodities such as coal present a great opportunity especially as it will take time to increase supply in line with demand.
"In addition, we have identified some cyclical headwinds driven primarily by slowing external demand, as Western economies deal with the after-effects of US credit problems.
However, more importantly, domestic earnings growth, which is the key focus of the Fund's investments, remains strong, despite tighter monetary policy announced in December 2007.
"Furthermore, we believe that an appreciating local currency will boost domestic consumption and be of long-term benefit to the Chinese economy." The Gartmore China Opportunities Fund has been awarded a three star rating from Morningstar and has a S and P 'A' rating[5].
The Fund has an impressive performance record over both long and short term periods.
The Fund has been ranked first amongst its peers over 1, 2, 3, 4 and 5 years as well as since its launch 25 years ago[3].
[1] Winner of the 2007 Moneywise Award for Best Fund in the Asia Pacific Excluding Japan Region.
[2] Inception date: 31.03.83.
[3] Source: Lipper: Basis: Mid to mid, net income reinvested and net of fees in UK Sterling terms as at 31.12.07.
[4] As at 31.12.07.
[5] Ratings source: Morningstar as at 31.12.07.
Standard and Poor's as at 31.01.08.
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