Magellan: The rise of the Chinese consumer
China’s middle class is expected to double to over 600 million people in the next five years, according to global asset manager Magellan Financial Group. The upper class of around 50 million people is expected to increase by a factor of four over a similar time frame.
Chris Wheldon, Portfolio Manager of Magellan’s High Conviction Fund, discusses three stocks that may benefit from the rise of the Chinese consumer: LVMH Moet Hennessy Louis Vuitton (LVMH.PA), the world’s largest luxury goods company; Estee Lauder (NYSE: EL), the prestige beauty products maker; and Alibaba (NYSE: BABA), China’s e-commerce and online marketplace group.
Tune in to hear how Magellan is positioning its portfolios for the vast socio-economic shift in China.
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Nicolas Burgess, CFA is a research analyst at EL&C Baillieu Limited, focusing on small and mid-caps including the technology, diversified financials and insurance sectors. He has been an analyst for over 18 years and been at EL&C Baillieu since 2012.
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