BlackRock Asian Growth Leaders Fund

This was our first meeting with the manager and much of the discussion was around macro issues although Andrew did touch briefly on the fund itself.

We started by discussing trade tariffs and Andrew explained that the steel and aluminium tariffs in isolation will have little impact on China. The challenge is where the trade war goes from this point. He added that it is important to understand that a trade war ultimately ends up as a tax on the US consumer and for this reason Andrew feels there will be a deal between China and the US.

In the short term the impact is harder to gauge, and it will increase volatility in the region. This of course opens opportunities but if this escalates then it will not be good for global growth and especially Asia. The only winner is the dollar. If this starts to happen then Andrew will move the portfolio to a more defensive positioning…read more

Fund Facts Morningstar

Notes

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