SHANGHAI : Chinese fund managers who made big bets on energy companies are celebrating a year that was brutal for many of their peers.
"Instead of chasing hot stocks, we chose the carefully planned battle of contrarian investment," Huang said on Wanjia's website."Looking ahead, we remain cautiously optimistic toward China's stock market, where structural opportunities abound." Heavy exposure to the sector also made Zhang Yuan China's best performing equity mutual fund manager this year, according to ranking by Refinitiv Lipper.
But Lipper's China fund ranking also showed that stock picking was not essential. A slew of passive funds that help Chinese investors allocate assets globally comfortably beat active funds as long as they placed money in the energy sector.