The China Fund (NYSE: CHN) is a closed-end investment company with a principal objective of capital growth through equity investments in companies headquartered or conducting significant business in the Greater China region. Launched in 1992, the fund seeks to provide U.S. investors with targeted exposure to Chinese markets by investing across A-shares listed on mainland exchanges, H-shares on the Hong Kong Stock Exchange, and other Hong Kong–listed shares. The portfolio is managed without strict benchmark constraints, allowing the investment team to pursue opportunities across market capitalizations and industry sectors.
Over its history, The China Fund has developed a diversified equity portfolio that spans a range of sectors, including consumer goods, technology, financials, industrials and healthcare. The fund may also hold limited positions in related markets such as Taiwan or mainland-linked companies in Southeast Asia when it deems these investments complement its China-focused strategy. By emphasizing both established industry leaders and fast-growing domestic companies, the fund aims to capture the long-term growth potential of China’s evolving economy.
Managed by Matthews Asia, a specialist in Asia-Pacific investing, The China Fund benefits from a team of seasoned analysts and portfolio managers with local expertise in Shanghai, Hong Kong and Beijing. The investment team conducts on-the-ground research, engaging directly with company management teams and regulatory bodies to assess growth prospects and risk factors. This hands-on approach, combined with Matthews Asia’s institutional resources, underpins the fund’s disciplined stock selection and ongoing portfolio oversight.
As one of the longest-running U.S.-listed funds dedicated to Chinese equities, The China Fund offers investors a vehicle to participate in China’s economic transformation. Its closed-end structure provides the flexibility to employ leverage and hold concentrated positions, enhancing return potential while also introducing distinct risk dynamics. The fund’s share price may trade at a premium or discount to net asset value, reflecting market sentiment and liquidity conditions.
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