CreditSuisse Asset Management (CSAM) has made a move into the depressed Asian equities market, launching an Asia ex Japan fund for Australian investors at what it claims is an opportune time.
CSAM head of retail funds Brian Thomas says the Asian economy has been affected by the SARS crisis, giving it short-term potential, while long-term potential for growth in the region is also strong.
“We have also been managing Asian equities for the group globally, and we thought quite simply, if we have the capabilities and track record, why not make them available to the Australian marketplace,” he says.
CSAM head of Asian equities Peter Sartori says the fund gives investors the opportunity to invest in Asia’s long-term economic growth potential at a time when market valuations are at historical lows.
“Earnings growth is relatively healthy in Asia, corporate fundamentals are improving and valuations are at historical lows,” Sartori says. “In addition, there is a growing dividend story in the region as companies pay out more earnings to shareholders.”
Sartori says CSAM has picked a team of investment professionals from Hong Kong, Singapore and Sydney to manage the fund.
“We are active bottom-up stock pickers focusing on high quality companies with good growth prospects. At the moment, we are able to find many Asian companies that fit our investment criteria,” he says.
