Despite disturbance in Chinese equities markets, including the Shanghai Composite Index, Aberdeen Asset Management is still positive about the country.
The firm is due to sign an agreement with Chinese authorities this week as part of the UK government’s trade mission. This would make it the first British fund manager to operate from the Chinese mainland.
Chief executive Martin Gilbert told The Daily Telegraph: “We are interested in China as a market. [It has] an affluent middle class and it has an enormous propensity to save.”
Aberdeen saw a net outflow from emerging market assets of £9.9 billion (€14.1 billion) in the three months to June 30, as investors continued to reduce exposure to Asia and emerging market equities.
Aberdeen has seen its share price drop by about a quarter since the start of the year, but has still been making investments via acquisitions.
©2015 funds europe