By Frank Holmes via Iris.xyz
I’m pleased to share with you that our China Region Fund (USCOX) beat its benchmark, the Hang Seng Composite Index (HSCI), by an impressive margin for the one-year, three-year and five-year periods, as of August 1. The fund has closely tracked the HSCI, but since late February of this year, it’s pulled sharply ahead.
There have been recent fears among economists and investors alike that China’s debt-fueled economy would contract as it transitions from old-school manufacturing to services, but the Asian giant has been far more resilient than most anticipated. Its gross domestic product (GDP) for the second quarter rose 6.9 percent over the same period last year, beating expectations and putting the country on track to meet the International Monetary Fund’s 2017 growth forecast of 6.5 percent.
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