China A Equities

A growth biased strategy that comprises of our best ideas and seeks to outperform across different economic cycles and market conditions.

Our edge

  • Highly experienced and locally based research team.
  • Utilises a top down and bottom up approach which is well adapted to the local market in order to capture alpha in different economic cycles.
  • Aims to identify growth drivers early to create high conviction portfolio.
  • Institutional quality investment processes.
  • International standard trading and operations.

Team

Lucrecia Tam is the portfolio manager for Eastspring’s China A share strategy with research support from on the ground team. She has more than 20 years of global asset management experience.

Portfolio Manager

Lucrecia joined Eastspring Investments in May 2017.


Lucrecia is Portfolio Manager focusing on Global Thematics, leveraging on her extensive global investment experience across a range of sectors. She is also the portfolio manager for Eastspring’s China A share strategy in collaboration with the team in China. She has more than 20 years of global asset management experience.


Prior to joining Eastspring, Lucrecia was Senior Vice President, Portfolio Manager, Industrials Global Sector Specialist at PIMCO. Previously, she was the Industrials Global Sector Specialist at Schroders Investment Management in London. Lucrecia also has equity research experience covering global industrials and utilities as well as the Latin America energy and consumer sectors while working in the US.


She holds a Bachelor of Science degree in Computer Science from the Roosevelt University in Chicago and a Master of Science degree in Management from the Boston University in London.

Research support is provided by on the ground China A research team. Locally based research team has significant experience in A share research and a deep understanding of local companies and market nuances. 

Chief Investment Officer - Equities, China

Michelle joined Eastspring Investments in June 2018 as Chief Investment Officer - Equities, China.


Previously, Michelle was Head of QFII & QDII Investment and Portfolio Manager at BOCOM Schroders. Michelle had various roles at BOCOM Schroders from October 2005 to June 2018, initially as senior research analyst, then portfolio manager, deputy head of equity investment department and most recently Head of QFII & QDII Investment. Michelle was QFII portfolio manager at BOCOM Schroders since 2007.


Michelle previously held Shanghai-based roles at ING Barings Securities and Arthur Anderson Michelle holds Master of Applied Finance from Macquarie University and Bachelor of Art from Shanghai University.

Senior Analyst

Jingjing joined Eastspring Investments in September 2018 as Senior Analyst – Equities, China.


Previously, Jingjing was China equity strategist at UBS securities, covering both A- and H-share markets. Jingjing also covered China A-share banking sector as well as China macro economy from 2011 to 2015.


Jingjing holds Master of Finance from Renmin University of China and Bachelor of Economics from Zhejiang University.

Senior Analyst

Xiang Xu joined Eastspring Investments in September 2018 as Senior Analyst – Equities, China.


Previously, Xiang was the lead healthcare analyst in Bank of China International Asset Management. Xiang have been covering A/H-share healthcare sector since 2013 and petrochemical since 2015. Xiang also worked at Greenwoods Asset Management and PricewaterhouseCoopers.


Xiang holds Master of Neuroscience and Bachelor of Life science from Fudan University.

Senior Analyst

Zach joined Eastspring Investments in October 2018 as Senior TMT Analyst - Equities, China.


Previously, Zach was a lead Electronic and Semiconductor Analyst at BOCOM Schroders from 2017 to 2018. His coverage included A/H and US shares.


In 2016, Zach started his financial career at Horizon Insights Research as a Semiconductor Analyst.


Zach worked as a research engineer at El-Cat Inc, a US semiconductor material company from 2010 to 2015.


Zach holds Master of Electrical Engineering from New York University and Bachelor of Microelectronics from Shanghai Jiao Tong University.

Head of Product and Corporate Development, China

Yinyan joined Eastspring Investments as Head of Product (China) in July 2018 and took on the responsibility for Business Development in September.


Previously, Yinyan was Assistant Head of QFII & QDII Investment at BOCOM Schroders on a secondment from 2013 to 2018. Prior to the secondment to BOCOM Schroders, Yinyan was Product Manager for Global and International Equities at Schroders in London from 2010. Before that, she worked as a product specialist from 2006 for the quantitative asset management group at Lehman Brothers Asset Management Division, which spun off in 2009 as an independent company TOBAM. Previously, Yinyan worked for Bank of China.


Yinyan holds MSc in Financial Economics from University of Oxford and Bachelor of Science from Fudan University.

Investment Philosophy

  • The China A-share Equity market is inefficient due to variable research coverage, the short-term horizon of many investors and high participation by domestic retail investors
  • We combine top down macro and sector analysis with bottom up stock selection
  • We seek companies with strong growth profiles, high quality earnings and credible management
  • We provide a concentrated 30 -50 best ideas portfolio with a bias to quality growth companies across all capitalisation

Investment Process

  • Screen investment universe using proprietary quantitative scorecard and qualitative filters
  • Determine sector allocation according to top down macro view and strategic growth drivers
  • Identify winning companies through rigorous fundamental research and analysis
  • Construct portfolio to reflect sector preferences and conviction in stocks, with risk oversight.


eastspring

ESG

ESG is embedded within our research process and factored in our careful bottom-up, fundamental analysis of companies and in the eventual stock selection process. ESG evaluation of companies is a consideration for our research analysts at the start of the investment process as part of our quantitative and qualitative screens. We screen companies for good governance, as well as other aspects including social and environmental responsibility to form a holistic view on a business.

Eastspring Investment Management (Shanghai) Company Limited (“ES China WFOE”) is an onshore private securities investment fund manager incorporated in People’s Republic of China (“PRC”, for purpose of this disclaimer, excluding Hong Kong Special Administrative Region, Macau Special Administrative Region, and Taiwan district). ES China WFOE has been registered with Asset Management Association of China (“AMAC”) and under the supervision and oversight of AMAC and other related PRC regulators. ES China WFOE is not registered or licensed in any jurisdiction other than the PRC. As a wholly owned subsidiary of Eastspring Investments (Hong Kong) Limited and a group member of Eastspring Investments, ES China WFOE provides research service only to the affiliates of Eastspring Investments with respect to China A shares market. ES China WFOE does not and does not intend to provide any investment, advisory or research services to any person, if such services are not consistent with the PRC laws and regulations. ES China WFOE is not permitted, and is not by this website to provide any investment, advisory or research service to any offshore persons or entities other than the affiliates of Eastspring Investments. Any information or material in this website does not constitute an offer or solicitation for selling or marketing any of the services or products of ES China WFOE to any person, and should not be construed as any offer or solicitation for sale or marketing for ES China WFOE.