Baijiu bet: China’s top fund manager doubles down on consumers amid signs of recovery

China’s largest fund manager has doubled down on consumer stocks, betting on a rebound in spending as early signs of stabilisation emerge in the property and catering sectors.
Zhang Kun, who oversees US$6.9 billion at Guangzhou-based E Fund Management, increased exposure to leading baijiu makers and e-commerce platforms in his flagship mutual fund during the first quarter, according to a quarterly filing released on Thursday.
The combined assets of the four funds he manages remain the largest...