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AITC says the Chinese horse is worth backing

The AITC is urging investors to take a look at the Chinese

stockmarket as an alternative growth investment for 2002.

With China having finally gained entry into the World Trade

Organisation last year, as well as having won the bid to host the

Olympics in 2008, the economy is in a positive state.

As a result, several of the industry&#39s leading fund managers believe

China&#39s year of the horse – which begins on February 12 – is worth


Specialist funds which invest in the region include JP Morgan

Fleming&#39s Chinese investment trust, Henderson Far East income and

Baillie Gifford&#39s Pacific horizon trust.

First State Investment&#39s Scottish Oriental smaller companies fund has

one of the highest proportions of assets in China in the investment

trust universe.

The fund&#39s manager Suzie Rippingall says: “Investing in China is

never dull. Economic growth in 2002 is likely to be one of the

fastest in the region.

“Direct investment from overseas remains strong and should receive a

fur-ther boost in coming years from entry into the world trade

organisation, which was confirmed in December 2001.”

AITC communications director Annabel Brodie-Smith says: “The

closed-end structure of an investment trust is particularly relevant

in more volatile markets as it allows the fund manager to take a

long-term view of the portfolio.

“By investing in 50 or more companies on your behalf, investment

trusts allow you to spread your investment risk. In the year of the

horse, let us hope that equities ride high.”


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