China’s A-share market revived in April amid hopes that domestic policies will loosen following weak first-quarter macro data. The Shanghai A-share index rose 5.9% for the month while the Shenzhen A-share index rose 5.4%.
The APS China A Share fund, managed by Singapore-based APS Asset Management, benefited from the April run up, posting gains of 6.2% for the month. Year-to-date, the fund is up 11.3%. The outperformance was due to core holdings such as Gree Electrical Appliance and China Merchants Bank. Both gained on the back of strong 2011 and first quarter 2012 earnings results. Citic Securities also