Investment Insights


China’s Internal Circulation Model Forging Ahead

August 2020
China's latest manufacturing PMI index was at 51.1, which would be five consecutive months in the expansion zone, signalling that China's economic recovery continues. China is promoting has promoted the ‘Internal Circulation’ model of economic development, with greater emphasis on ...

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Yet Another Wave of Coronavirus Outbreak Impact on Global Economy

July 2020
Another wave of confirmed cases surging in countries around the globe. In the aftermath of the outbreak, consumers behaviour is changing rapidly with the help of internet connection.  Technology is playing its part ... 

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Liang speaks on Bloomberg Live

March 2020
Michael Liang, CIO of Foundation, was invited by Bloomberg TV to share some views about the market. As companies start to report 1Q2020 earnings and give 2Q guidance in mid/late April, markets may take a breather and reassess risks ...

 
 




Cover Story on Mingpao Finance Magazine Money Monday - Michael Liang: Challenging Macro Conditions. Stock Selection Focus on Moat

September 2019
As China celebrates its 70th anniversary, it is a moment that market pays close attention to its economic development. In this issue of cover story, we feature Michael Liang, CIO of Foundation. He believes the solid working-class of Chinese people are set to ...

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HK Economic Times iMoney Magazine Cover Story – Michael Liang: Short-term fluctuations, long-term promising market

September 2019
On 7 Sep 2019 issue 620 of HK Economic Times iMoney Magazine, Michael Liang, CIO at Foundation, shared his views on how Foundation funds outperformed benchmark  during volatile conditions of July & August 2019. Outperformance came down to ...

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2019 Second Quarter Review

July 2019
The US Federal Reserve expects to cut interest rates by the end of this year. Chinese government has also introduced several measures to simulate the Chinese economy. While facing challenges ...

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Cover Story on Economic Digest

June 2019
With the second quarter coming to an end, it is about time to evaluate the performance of fund managers. After careful inspection, this week’s Economic Digest unveiled three top fund managers in this year’s Hong Kong stock market ...

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The Growing Wave of Fixed Income ETFs

May 2019
The niche value of FI ETFs has been discovered by more and more investors. The increasing demand for the FI ETFs has started to be recognized by regulators and asset managers, which will lead to a rapid growth in the liquidity and accessibility ...

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2019 First Quarter Review

April 2019
Hang Seng Index has rebounded in 2019 but it is still trading at 1 standard deviation below its 25-year historical average price-to-book valuation level. Owning a well selected portfolio now will definitely bear fruit in the mid to long term as ...

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2018 Fourth Quarter Review

January 2019
After recording minimal asset return volatility in 2017, global asset prices in 2018 experienced the most turbulent year in recent financial market history. Since our last quarterly update in October, the trade war between China and US has ...

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2018 Third Quarter Review

October 2018
Since our last quarterly update in July, the trade war between China and US has escalated. After both countries have started to execute the first round of tariffs on USD 50 billion worth of each other's exports...

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Cover Story on Mingpao Money Monday

September 2018
Michael reminds "investors shall not be overly pessimistic, despite mainstream media reports on negativity of trade war, emerging market currency crisis, and China social security burden. Being a value investors, we should be...

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Cover Story on Economic Digest

September 2018
Michael Liang was featured on Economic Digest cover story. Michael shared his views on the outlook for 4Q2018, and how would factors like rising treasure yields, high gearing in China, geopolitic issues impact on ...

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Covery Story on iMoney Magazine

September 2018
CIO was on the cover story of Hong Kong Economic Times iMoney Magazine Issue 570 for 22 Sep 2018. During the interview, he reminds investors to focus on not just the news on trade war, but also the valuation of companies ...

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Our Hedging Philosophy

August 2018
In view of market uncertainties and volatilities amid US-China trade war and Turkey Lira crisis, investors are rightly concerned with the rising risk of equity markets. In this update, we would like to address these concerns by ...

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2018 Second Quarter Review

July 2018
After a series of negotiations between China and the US, the US government surprised the world by announcing a series of potential tariffs on Chinese imports...

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2018 First Quarter Review

April 2018
Foundation China Opportunity Fund is now in its 12th year of history-making performance. This means that the Fund has and has delivered 11 full years of great returns to our investors. More remarkably, the Fund achieved the good performance without adding volatility...

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Cover Story on Mingpao Money Monday

March 2017
Featured in the cover story of Mingpao Money Monday 90th issue on 20 March 2017. The issue discussed about the political relations between China and USA, as the leaders of two nations  ...

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Liang speaks on Bloomberg TV

January 2016
Michael Liang mentioned his views during CNN TV’s live interview, which he saw new circuit breakers and Renminbi movements caught market’s attention recently. However, he believed that ...







Liang on CNN Live Interview

September 2015
Michael Liang was featured on CNN TV’s live interview. Michael explained the mixed signals from the Chinese government. The government also has to do more on both ...

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Liang speaks on Bloomberg TV

April 2014
Michael Liang, CIO at Foundation, talks about China's plan to connect the stock exchanges of Hong Kong and Shanghai. Liang speaks with Angie Lau on Bloomberg Television's "First Up" ...

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