KEN BAKSH LATEST TIP ON FUND MANAGEMENT

DATED 22nd JULY 22

HFEL

The stock currently 280p trades in a narrow band around NAV and offers a yield over 8%

One thing to be aware is that emphasis on income has meant avoidance of the large China tech sector,a major component of Chinese benchmark and indeed emerging market indices esp Tencent and Alibaba stocks .This has pluses and minuses,the fund lagging ,in capital terms in tech driven high beta market phases but outperforming during periods of tech uncertainty

Large holdings in financial and raw materials esp Australia...and I see recently HFEL has increased its China (non tech) weighting

Download Ken's monthly report for AUGUST 22 here