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.
BaBa should fly. I suggested the Australian government assist every Australian exporter to get a listing in an effort to boost the economy. Jack Ma was doing this for struggling countries around the world. You can see the anti China sentiment hammer the price.