Galaxy rises 5% on financials in June


Positions in China banks, construction companies and domestic consumption plays all helped the Galaxy China Opportunities Fund gain 5.06% in June, taking year-to-date gains to 18.18%. Galaxy's Joe Chan explained that strong performance in June by the Bank of China, ICBC and Construction Bank of China all helped the fund, as did gains by Shimao Property, R&F Properties and China Overseas Holdings, as well as consumption stocks such as Mengniu Dairy Co. and Gome Electrical Appliances Holdings.

Chan's outlook is cautiously optimistic - China continues to be insulated by its resilient economy, strong domestic consumption and fixed asset