APS China gains owing to industry holdings


Major holdings in electrical appliances, transportation and heavy industry by the APS China A Share Fund did well in February and helped it gain 7.89% for the month. Manager James Liu also increased the fund’s exposure to undervalued names and took profits on a Southern China port logistics holding.

The portfolio is now well-positioned to benefit from some of the mid- to long-term structural changes taking place in China, especially those spelled out in the government’s next five-year plan, says Liu. The fund will focus on core themes including increasing domestic consumption, greater spending on healthcare, accelerating urbanisation,