This economic cycle has evolved rapidly, and far more quickly than the post-financial crisis recovery seen in the early 2010s. This has occurred due to the combination of both monetary and fiscal policy support and the unique nature of the shock.
Family businesses in the retail and industrial sectors, despite generating lower revenue growth and operating profit, obtained on average 3% more increase in earnings per share annually, with the corresponding reflection in the price of their shares.
Over the past two decades, emerging markets have typically been “condition takers,” each country having some degree of sensitivity to Chinese economic growth and U.S. interest rates.
The #1 has been World’s Top 10 Biggest Asset Managers by AuM in 2020, where we analysed the asset under management of the biggest asset management companies in the world.
The healthcare sector delivered double-digit gains in 2021, following the strong performance of equity markets (as of November 19). But the returns have not been broadly distributed.
2021 was a difficult year for Chinese equities, but Vincent Che, Fund Manager, Ping An Asset Management, and Oliver Lee, Investment Director, explain why the backdrop is improving.