Mon, 28/04/2014 - 10:12
Lombard Odier Investment Managers (LOIM) has launched LO Funds - Asia Consumer to exploit the growth of the middle classes in the region.
While Asia represents 60 per cent of the world population, spending on consumption is lower than the rest of the world with household income in Asian countries rising faster than GDP.
The region’s economies are now switching from export-led to domestic-consumption driven growth.
The fund is managed by Didier Rabattu and the same team responsible for LOIM’s USD1.1 billion LO Funds - Emerging Consumer.
“With three-fifths of the world’s population and booming middle classes, Asian incomes and spending are inevitably on the rise,” says Rabattu. “Minimum wages in countries such as Indonesia and Vietnam have grown massively in recent years and Chinese households with incomes of over USD10,000 a year are more and more numerous.”
The LOIM Asia Consumer fund applies a highly research-intensive approach, investing in 40 to 60 companies with market-leading shares, high return on capital, strong balance sheets and quality corporate governance.
It is an actively-hedged Luxembourg SICAV with an annual fee of 0.9 per cent and a minimum investment of EUR3000 or equivalent for the (USD) P A share class.
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