Old Mutual PM eyes post-export equity trades

Diamond Lee, China equities portfolio manager at Old Mutual Global Investors, argues that quality stocks must reflect Asia's declining terms of trade
Diamond Lee, Old Mutual Global Investors
Diamond Lee, Old Mutual Global Investors

The loss of the export engine that has driven growth in Asia could have positive long-term effects for investors as the region’s political leaders drive through reforms, a fund manager says.

Diamond Lee, who has been managing China, Hong Kong and Asian equities for over two decades, cautioned against attempting to generalise when it came to China’s companies, many of which were now far better managed than in the past.

But Lee, who joined Old Mutual Global Investors in November 2014, said the Chinese government’s market intervention in the summer was a “policy mistake”, though he believed the government had learned its lesson.

“Asia...

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