Top consumer fund bullish on China’s tourism revival

Shanghai, China

As the coronavirus forces countries to keep their international borders largely sealed, Joohee An is counting on the enthusiasm of local Chinese travelers and betting on stocks linked to a potential revival in domestic tourism.

“They still want to travel,” An, whose $891-million Mirae Asset Asia Great Consumer Equity Fund has beaten 96% of its peers over three years, said of the Chinese in an interview. As the pandemic stabilizes, it will unleash the pent-up demand for travel within the country, and the government has every incentive to boost tourism to support consumption, she said.

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