The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 18 hours ago
Aug 16 2013 | 11:00am ET
Chinese hedge fund manager Zhao Danyang may be best known for winning an auction to have lunch with Warren Buffett five years ago, but now he's making a name for himself with his returns.
Zhao's Pureheart Capital Asia is up 24% this year, Bloomberg News reports, after a 7% surge last month. The US$217 million firm has more than 80% of its assets invested in Chinese stocks, up from 50% at the beginning of the year.
"There is no doubt that the China stock market is still in a bear market," the Hong Kong-based firm wrote in its July newsletter. "The falling share prices will provide a very good opportunity for us to buy the carefully-selected shares at a bargain."
Pureheart is most optimistic about consumer goods and pharmaceuticals, and plans to cut its investments in Vietnam further. The firm has already exited almost all of its Indian investments.