British fund manager abrdn is cutting out investments to China from one of the company’s emerging market funds, in response to client demands for greater choice in managing their exposure to the country, the company said in a statement.
Abrdn will relaunch its Emerging Markets Sustainable Equity Fund to exclude China and re-brand the product the Emerging Markets Ex China fund, the statement said.
Abrdn said the decision was about giving clients flexibility, and did not reflect a call on the Chinese market. The move nonetheless comes against a backdrop of rocky conditions for Chinese investments in recent years, after a downturn for the country’s economy.
Nick Robinson, deputy head of global emerging markets equities said: “we do appreciate that some investors want more flexibility in their approach to China. So, this is ultimately about choice.”
The Financial Times first reported the move.
Abrdn will continue to offer China exposure across a range of other funds, the fund manager added.
Reuters