Asset management

Funds look to Beijing, not viruses, to dictate investments

While the market grapples with the full impact of the Wuhan coronavirus, long-term investors typically follow Beijing’s policy playbook when deploying their capital. And if they don't, they probably should.

Amid the spread of the deadly coronavirus that has emerged from Wuhan, China’s largest and well-known companies have generously donated medical aid and resources.

New economy leaders, that included Alibaba, Tencent, and Meituan, have together donated more than Rmb3 billion towards the relief efforts. Top private equity and venture capital houses, like Hillhouse and Qiming Venture have also donated millions to help doctors in the front line

Tencent set up a special fund of Rmb300 million $43 million for medical supply purchase and future RD. Alibaba allocated Rmb1 billion to invest and purchase medical supplies for hospitals in Wuhan, where the virus first broke out.  ...

¬ Haymarket Media Limited. All rights reserved.

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