uploads///Performance of China focused Mutual Funds for the week ended September

Performance of SSE Composite Index for the week of September 18


Sep. 25 2015, Published 7:00 a.m. ET

Shanghai Stock Exchange (SSE) Composite Index was down week-over-week

The SSE Composite Index fell 3.2% week-over-week and ended at 3,097.92 points on September 18, 2015. The index fell as the US Federal Reserve, or the Fed, kept its interest rate unchanged among expectations of a rise. Meanwhile, China’s industrial production and fixed investment data indicated weakness in the economy.

The SSE Composite Index includes all listed stocks (A shares and B shares) at Shanghai and Shenzhen Stock Exchange.

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A shares are shares denominated in domestic currency (renminbi) and are available only to local investors. On the other hand, B shares are shares denominated in foreign currency such as the US dollar on the Shanghai Stock Exchange and in Hong Kong dollars on the Shenzhen Stock Exchange and are available to foreign investors.

September FOMC meeting

The two-day policy meeting of the Fed ended on September 17, 2015. The interest rate hike has been kept on hold as of now.

Fed Chairwoman Janet Yellen cited low US inflation, the appreciating dollar, falling commodity prices, uncertainty in China, and a potential slowdown in global growth as the major reasons for keeping interest rates unchanged.

However, she was of the opinion that a liftoff may happen later this year, depending on how the US economy is performing and how global events pan out.

Weekly returns (from September 11 to September 18) of China-focused mutual funds

The Fidelity China Region Fund Class C (FHKCX) posted the highest week-over-week return of 2.2% among its peers, followed by the John Hancock Greater China Opportunities Fund Class A (JCOAX) and the Matthews China Fund Investor Class (MCHFX) with weekly returns of 1.9% and 1.8%, respectively. The Clough China Fund Class A’s (CHNAX) weekly return stood at 1.1%.

Similarly, American Depository Receipts, or ADRs, of Chinese tech giants such as Alibaba Group Holding Limited (BABA), Youku Tudou (YOKU), and 58.Com (WUBA) rose 5.0%, 6.3%, and 1.6%, respectively.


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