The level of relative valuation of many of the stocks out of China, especially in the offshore market, has corrected too much.
Champagne, for instance, still hasn’t been fully adopted by Chinese drinkers, with the country importing just 1.8 million bottles of bubbly in 2020, compared to 14.3 million to Japan.
Thousands of Hong Kong residents have left the city in recent years due, among other things, to steep property prices.
As UBP is not listed and has remained family-owned since its founding, Blake believes the bank is able to take a longer-term view than perhaps a public company would consider, given the pressures of quarterly reporting.
The southeast Asian nation’s inflation last year stood at 2.9 percent, which was also at a manageable rate, he said.
According to GlobalData’s report, ‘Global and Asia-Pacific M&A Report Financial Adviser League Tables 2021’, deal value for the region decreased by 5.7% from $655.7bn during 2020 to $618bn during 2021.
SMSF Advisers Network, which was owned by the National Tax and Accountants’ Association (NTAA), posted the highest loss of 90 advisers. As a result of this, AMP Financial Planning was once again the largest licensee.