Wednesday "everybody is underweight on China," but believes investing in the country with the "right type of balance" can yield positive outcomes.
"I think almost everybody is underweight on China if you look at any of the benchmarks relative to world capitalization,"Dalio, the co-founder of hedge fund Bridgewater Associates, said. "The first move is to get exposure to China in a diversified portfolio. That means to achieve the right kind of balance of assets in China," he said. "Our approach is, we call it the all-weather approach, it's a certain balance in which you achieve balance without lowering the expected return. From that, you want to make the tactical moves.
"You'll see more of the internalization of the [yuan], and it's a natural consequence, because as the dollar and the major reserve currencies are having the challenges that we are talking about, some element of void will be there," he said. which tracks the strength of the greenback relative to a basket of currencies, has lost around 7% in the last six months. In the same time, the Chinese central bank has allowed the yuan to rise by around 4% against the US dollar.
Major Chinese indices have risen in recent months underpinned by a recovery from the COVID-19 pandemic and low cases of the virus.
I'm overweight and it's the only thing working in my portfolio ATM. Everything else is stagnant
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