Standard Life Investments

Press Release

Aberdeen Standard Investments Strengthens China Onshore Investment Capability

01  November  2018

Aberdeen Standard Investments (ASI) has expanded its Asian investment team with four portfolio managers joining in Shanghai and Hong Kong, further bolstering its China fixed income and equities expertise. The growth of the firm’s onshore investment capability reinforces its long-term commitment to the China market, a strategic focus for the business in the region.

Edmund Goh, Asian Fixed Income Investment Manager, has relocated from Singapore to Shanghai. Edmund has been with the firm since 2011, focusing on China sovereign bonds and credit investing, and is part of the team managing ASI’s regional fixed income portfolios. Aaron Ni joined in Shanghai as an Investment Manager, responsible for covering onshore China credits. Aaron came to the Asian fixed income team from Ping An Asset Management where he specialised in credit analysis.

Alec Jin has been appointed an Investment Manager on the Asian equities team. Based in Hong Kong, he covers China and Hong Kong listed stocks. He was most recently a Director on the leveraged finance team at Standard Chartered Bank. Stella Li has started in Shanghai as an Investment Manager for China equities. Previously with Macquarie Securities as an Equity Research Analyst, she will deepen the team’s research into the Chinese equities universe. Together, Edmund, Aaron, Alec and Stella bring four decades of industry experience to the China investment teams.

Adam McCabe, Head of Asian Fixed Income, Aberdeen Standard Investments said

“China’s $12 trillion onshore bond market is now the third largest in the world1 . The demand for China bonds will only increase over time when the country is included in broader global market indices. Having been invested in the market since 2011, thorough bottom-up analysis and credit-risk differentiation are key to our strategy. The expansion of our footprint on the ground in China is an important milestone; we look forward to connecting investors near and far with deeper insights and wider opportunities in onshore bonds.”

Nicholas Yeo, Head of China Equities, Aberdeen Standard Investments said,

“China’s long-term growth outlook presents considerable opportunities for active stock pickers. In spite of the recent correction in valuations, which signifies a disconnect between fundamentals and investor sentiment, we continue to see growth among Chinese businesses. As we maintain our focus on individual companies’ management, balance sheet, business model and corporate governance, investing further in our onshore equity research and investment team will prove invaluable.”

Hugh Young, Head of Asia Pacific, Aberdeen Standard Investments added,

“Being one of the first global investors in China, we see growing potential for quality onshore China equities and bonds to play a more important role in diversifying international portfolios. As we offer investors one of the world’s broadest suite of asset class capabilities, building a robust China investment platform is critical to deliver the deeper local insights and solutions needed by our clients. We are dedicated to strengthening our onshore presence and establishing a strong foundation to drive growth in the coming years.”

ASI has been investing in China equities since the mid-1980s, and is among the first few Qualified Foreign Institutional Investors to access the onshore markets. The firm’s long-term track record and profound insights in the domestic markets have led to the resounding success of its A-shares strategy since incepted in 2015, and the launch of a dedicated Luxemburg-domiciled onshore China bond strategy this year.

1 Source: Bank for International Settlements, 31 December 2017