For the one-month ended September 30, 2015, the Clough China Fund Class A (CHNAX) stands out as the worst performer of our China-focused mutual funds with a return of -2.2%.
China’s flash reading of the Caixin/Markit Manufacturing PMI stood at 47 in September. It was weaker than expected. It was below August’s final of 47.5.
China’s foreign trade data for August were released on September 8. China’s exports in US dollar terms fell 5.5% year-over-year (or YoY) in August, while imports fell sharply by 13.8% YoY.
Due to recent stock market turbulence in China’s stock market, the SSE (Shanghai Stock Exchange) Composite Index was down 22.7% month-over-month and ended at 3,200.23 points on September 11.
China’s Leading Economic Index currently indicates that the country’s economy is facing a downturn. Its LEI remained unchanged at 98.71 points in July 2015.
The Caixin China Manufacturing PMI was down to 47.1 from 47.8 in July, indicating that the economy is slowing down. China’s annualized industrial production fell 6.0% in July from a rise of 6.8% in June.
China’s stock market tumbled again on Monday, August 24. As a result, major stock markets around the globe also plunged. The fear of global slowdown is looming in the minds of the investors.
The Fidelity China Region Fund Class C (FHKCX) and the John Hancock Greater China Opportunities Fund Class A (JCOAX) benchmark their performance to the MSCI Golden Dragon Index.
Risk-adjusted returns is a concept that can be used to determine how much return an investment can provide with the given level of risk associated with it.
In the one-month period ended August 4, 2015, each of the four funds we’re covering in this series posted negative returns due to the stock market crash that spread from the end of June until July.
