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The Matthews Emerging Asia fund also seems to like the consumer story:
At Matthews, we aim to introduce new strategies when we identify compelling investment opportunities in the region. This led us to launch a fund focused on Emerging Asia, which represents some of the fastest-growing economies in the region. The capital markets in these countries are also expanding and they now offer a bigger universe of publicly traded firms that provide new investment opportunities. Relatively inefficient capital markets also make this an attractive region for fundamental investors, such as ourselves, to consider. We believe there are several long-term structural trends that are likely to benefit Emerging Asian economies. Higher labor costs in countries such as South Korea and China have led many companies to move their manufacturing operations to countries such as Vietnam, Bangladesh and Cambodia. We believe that many Emerging Asian countries are benefiting from reform-minded governments, increasing consumer wealth, rising domestic consumption and relatively low inflation.
We, therefore, emphasize consumer-related sectors such as consumer staples, consumer discretionary, health care and financials in our portfolio. We also have a sizable exposure to the industrials sector as we have found select industrial conglomerates to be compelling investments. Within consumer staples, we like food and beverage-related firms due to their tendency for strong free cash flows and high profitability.
Comments
http://www.wisdomtree.com/resource-library/pdf/research/asset-class/equity/WisdomTree-The-Case-For-EMCG-1470.pdf
http://www.wisdomtree.com/etfs/fund-details.aspx?etfid=87