Global investors are increasingly choosing to bypass China’s markets in favor of other emerging countries that are either gaining from the geopolitical and growth risks stalking the world’s second-biggest economy or are far removed from them.
“China’s export dominance is ebbing, creating opportunities for other emerging market countries to fill the gap, including Mexico, India, and Southeast Asian nations,” said Malcolm Dorson, a New York-based senior portfolio manager at ETF manager Global X. With China comprising nearly a third of the EM MSCI index, such ETFs and funds also offer alternatives to tracking that index.
The size of the top 10 China-focused mutual funds tracked by Morningstar has slumped over 40 per cent from its peak in 2021. While many of those restrictions apply to exports and venture capital, portfolio investors are wary of running afoul of investment limits or being caught in sanctions.
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