Sanlam Investment Management (SIM) has deployed more than a third of its global emerging markets fund into Chinese equities, a bet premised on an expected consumer-led recovery in the Asian economy now that it has dropped its zero-Covid policy.

Feroz Basa, head of global emerging markets at SIM, has allocated 36.9% of the fund’s $179.1m (R3.5bn) in assets to China, by far the biggest allocation to any one country included in the developing nation-focused investment vehicle. The next biggest country allocation is Taiwan (8.4%) followed by Mexico (8.3%), India (7.5%), South Korea (7.2%), Brazil (5.8%) and SA (3.1%)...

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