Latest news with #GenZ-favoured
The Star
2 days ago
- Business
- The Star
China fund beats 97% of peers by buying Pop Mart
A statue of the character Labubu at the Pop Land theme park, operated by Pop Mart International Group Ltd., in Beijing, China, on Friday, June 27, 2025. Labubu, Beijing toymaker Pop Mart's star character, is fueling a global collectibles craze. Photographer: Na Bian/Bloomberg BEIJING: A 30-year-old Chinese fund manager is trouncing peers this year with a portfolio stocked with Gen Z-favoured names like Pop Mart International Group, betting that new-age shopping trends can help his fund overcome the country's economic sluggishness. Xie Tianyuan's Penghua Selected Return Flexible Allocation Mixed Fund has returned 24% this year, ranking in the top 3% among roughly 2,300 peers, data from fund tracker East Money Information Co show. That's a turnaround from its recent past when holdings in traditional sectors like alcoholic beverages and farming dragged performance. The Shenzhen-based fund manager, who took over in early 2024, wasted little time in replacing what was then the fund's top holding, Kweichow Moutai Co, a baijiu distiller, with the maker of smash-hit Labubu dolls, Pop Mart. His repositioning for the fund, which has about US$7mil in assets under management, reflects how cultural shifts – brought on by digital influence and youth spending – are creating opportunities for Chinese investors navigating broader challenges in the world's second-largest economy. His conviction strengthened after witnessing the popularity of the toymaker's products in Thailand, which, he says, signalled 'non-linear growth with every metric showing breakout potential'. Growing up immersed in Japanese anime culture – his desk is adorned with Dragon Ball Z figurines – Xie said he developed an eye for identifying promising characters or designs, called 'IP brands' by mixing personal fandom and online research. That he himself is demographically a member of Gen Z, the driving force behind China's new 'emotional spending' consumption trend, helps him understand what may resonate beyond advertising and go viral. 'Opportunities in the sector in the years to come will be on the single-stock level as the population dividend comes to an end,' he said. 'I pick companies that have breakthrough products, new business models and innovative sales channels – products that are both visually appealing and fun.' His top pick, Pop Mart, accounted for 10.5% of the fund's total assets as of March, the top end of its maximum ownership in a single stock allowed, filings show. Other big bets include Mao Geping Cosmetics Co, up 83% this year, as well as Chongqing Baiya Sanitary Products Co and Yantai China Pet Foods Co. Xie's strategy lies firmly in targeting the Gen Z consumption trend, where purchase decisions are driven by emotional triggers and hobby interests. Despite looming threats from Donald Trump's proposed tariff hikes, this behavioural change fuelled rallies in pockets of China's stock market, especially after the momentum from artificial intelligence began to fade. Shares of the companies at the heart of this trend – including Pop Mart and Laopu Gold Co, known for distinctive gold pendants – have staged wild gains this year. Laopu is up more than 2,000% since its initial public offering in Hong Kong a year ago. Xie's fund owns shares that trade in the mainland as well as in Hong Kong. A gauge for Chinese stocks listed in Hong Kong has risen 20% this year. The mainland's benchmark, the CSI 300, had edged down 0.3% so far this year. The rally has expanded to include sectors like medical aesthetics, pet foods and even vape products. — Bloomberg
Straits Times
3 days ago
- Business
- Straits Times
China fund beats 97% of peers by buying Gen Z darlings Pop Mart, Laopu Gold
Shares of Gen Z-favoured Labubu-maker Pop Mart and Laopu Gold, known for distinctive gold pendants, have staged wild gains this year. PHOTO: BLOOMBERG BEIJING - A 30-year old Chinese fund manager is trouncing peers this year with a portfolio stocked with Gen Z-favoured names like Labubu-maker Pop Mart International Group, betting that new-age shopping trends can help his fund overcome the country's economic sluggishness. Xie Tianyuan's Penghua Selected Return Flexible Allocation Mixed Fund has returned 24 per cent this year, ranking in the top 3 per cent among roughly 2,300 peers, data from fund tracker East Money Information show. That's a turnaround from its recent past when holdings in traditional sectors like alcoholic beverages and farming dragged performance. A gauge for Chinese stocks listed in Hong Kong has risen 20 per cent this year. The Shenzhen-based fund manager, who took over early 2024, wasted little time in replacing what was then the fund's top holding Kweichow Moutai, a baijiu distiller, with the maker of smash-hit Labubu dolls, Pop Mart. His repositioning for the fund, which has about US$7 million (S$8.9 million) in assets under management, reflects how cultural shifts – brought on by digital influence and youth spending – are creating opportunities for Chinese investors navigating broader challenges in the world's second-largest economy. His conviction strengthened after witnessing the popularity of the toy maker's products in Thailand, which, he says, signalled 'non-linear growth with every metric showing breakout potential.' Growing up immersed in Japanese anime culture – his desk is adorned with Dragon Ball Z figurines – Mr Xie said he developed an eye for identifying promising characters or designs, called 'IP brands,' by mixing personal fandom and online research. That he himself is demographically a member of Generation Z, the driving force behind China's new 'emotional spending' consumption trend, helps him understand what may resonate beyond advertising and go viral. 'Opportunities in the sector in the years to come will be on the single stock level as the population dividend comes to an end,' he said. 'I pick companies that have breakthrough products, new business models and innovative sales channels – products that are both visually appealing and fun.' His top pick, Pop Mart, accounted for 10.5 per cent of the fund's total assets as of March, the top end of its maximum ownership in a single stock allowed, filings show. Other big bets include Mao Geping Cosmetics, up 83 per cent this year, as well as Chongqing Baiya Sanitary Products, and Yantai China Pet Foods. Mr Xie's strategy lies firmly in targeting the Gen Z consumption trend, where purchase decisions are driven by emotional triggers and hobby interest. Despite looming threats from Donald Trump's proposed tariff hikes, this behavioural change fuelled rallies in pockets of China's stock market, especially after the momentum from artificial intelligence began to fade. Shares of the companies at the heart of this trend – including Pop Mart and Laopu Gold, known for distinctive gold pendants – have staged wild gains in 2025. Laopu is up more than 2,000 per cent since its initial public offering in Hong Kong a year ago. The rally has expanded to include sectors like medical aesthetics, pet foods and even vape products. Another potential area for Mr Xie: tapping into the rising popularity of sparkling yellow wine. Still, the consumption-driven rally is showing cracks. Pop Mart tumbled after a People's Daily commentary on June 20 that called for stricter regulation of 'blind-box' toys – products in sealed packaging designed to conceal content and induce surprise and greater desire to collect them. Laopu faces greater selling pressure after the lock-up period from its IPO expired on June 30. Meanwhile, many Gen Z stocks are near or above their average price targets, and in turn, driving analysts to constantly find reasons to bump up their outlook. Mr Xie acknowledged that valuations in the sector may be getting ahead of fundamentals, with some stocks already pricing in earnings three to five years ahead. Still, he remains overall bullish, particularly on the stocks he's heavily invested in. 'The gains may look incomprehensible to some people, but it's actually all rooted in earnings,' he says. 'Growth for some is underestimated, while others are just in the early stages of their life cycle.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
3 days ago
- Business
- Business Times
China fund beats 97% of peers by buying Pop Mart, dumping Moutai
[HONG KONG] A 30-year-old Chinese fund manager is trouncing peers this year with a portfolio stocked with Gen Z-favoured names such as Pop Mart International Group, betting that new-age shopping trends can help his fund overcome the country's economic sluggishness. Xie Tianyuan's Penghua Selected Return Flexible Allocation Mixed Fund has returned 24 per cent this year, ranking in the top 3 per cent among roughly 2,300 peers, data from fund tracker East Money Information shows. That's a turnaround from its recent past, when holdings in traditional sectors such as alcoholic beverages and farming dragged performance. A gauge for Chinese stocks listed in Hong Kong has risen 20 per cent this year. The Shenzhen-based fund manager, who took over early 2024, wasted little time in replacing what was then the fund's top holding Kweichow Moutai, a baijiu distiller, with the maker of smash-hit Labubu dolls, Pop Mart. His repositioning for the fund, which has about US$7 million in assets under management, reflects how cultural shifts – brought on by digital influence and youth spending – are creating opportunities for Chinese investors navigating broader challenges in the world's second-largest economy. His conviction strengthened after witnessing the popularity of the toy maker's products in Thailand, which, he said, signalled 'non-linear growth with every metric showing breakout potential'. Growing up immersed in Japanese anime culture – his desk is adorned with Dragon Ball Z figurines – Xie said he developed an eye for identifying promising characters or designs, called 'IP brands', by mixing personal fandom and online research. That he himself is demographically a member of Generation Z, the driving force behind China's new 'emotional spending' consumption trend, helps him understand what may resonate beyond advertising and go viral. A NEWSLETTER FOR YOU Friday, 3 pm Thrive Money, career and life hacks to help young adults stay ahead of the curve. Sign Up Sign Up 'Opportunities in the sector in the years to come will be on the single stock level as the population dividend comes to an end,' he said. 'I pick companies that have breakthrough products, new business models and innovative sales channels – products that are both visually appealing and fun.' His top pick, Pop Mart, accounted for 10.5 per cent of the fund's total assets as at March, the top end of its maximum ownership in a single stock allowed, filings show. Other big bets include Mao Geping Cosmetics, up 83 per cent this year, as well as Chongqing Baiya Sanitary Products, and Yantai China Pet Foods. Xie's strategy lies firmly in targeting the Gen Z consumption trend, where purchase decisions are driven by emotional triggers and hobby interest. Despite looming threats from US President Donald Trump's proposed tariff hikes, this behavioural change fuelled rallies in pockets of China's stock market, especially after the momentum from artificial intelligence began to fade. Shares of the companies at the heart of this trend – including Pop Mart and Laopu Gold, known for distinctive gold pendants – have staged wild gains this year. Laopu is up more than 2,000 per cent since its initial public offering (IPO) in Hong Kong a year ago. The rally has expanded to include sectors such as medical aesthetics, pet foods and even vape products. Another potential area for Xie: tapping into the rising popularity of sparkling yellow wine. 'The line between what is considered 'old' and 'new' consumption is blurring and more companies will join the new consumption pool once they realise that there's no future for them eking out a survival in their comfort zones,' Xie said. 'Even old trees can sprout new shoots.' Still, the consumption-driven rally is showing cracks. Pop Mart tumbled after a People's Daily commentary on Jun 20 that called for stricter regulation of 'blind-box' toys – products in sealed packaging designed to conceal content and induce surprise and greater desire to collect them. Laopu faces greater selling pressure after the lock-up period from its IPO expired on Friday (Jun 27). Meanwhile, many Gen Z stocks are near or above their average price targets, and in turn, driving analysts to constantly find reasons to bump up their outlook. Xie acknowledged that valuations in the sector may be getting ahead of fundamentals, with some stocks already pricing in earnings three to five years ahead. Still, he remains overall bullish, particularly on the stocks he's heavily invested in. 'The gains may look incomprehensible to some people, but it's actually all rooted in earnings,' he said. 'Growth for some is underestimated, while others are just in the early stages of their life cycle.' BLOOMBERG
Telegraph
18-02-2025
- Entertainment
- Telegraph
The best ‘alpha-mum' outfits from Amandaland – and where to get the look on the high street
Lucy Punch's magnificent comic turn in Amandaland makes compulsive viewing – both for her outrageously self-involved alpha-mum antics, as well as a slew of covetable fashion choices. A spin-off of the BAFTA award-winning Motherland, Amandaland follows bouncily-blowdried Amanda as she transplants from plush Chiswick to South Harlesden (or 'SoHa', as she dubs it), post-divorce. Happily, Joanna Lumley has resumed her role as Amanda's mother, Felicity Sanderson, a former model who is rarely without a glass of wine or biting comment (also excellent outfits). As well as being laugh-out-loud hilarious, the series is packed with knowing middle-class style signifiers. Amanda's world is polished and perfect – her new home a rainbow of Farrow & Ball off-whites, her wardrobe filled with sharp blazers, uncreased denim, and teetering heels. 'Everything had to look expensive, but on a budget,' says Helen Woolfenden, the Amandaland costume designer, of Amanda's reinvention wardrobe. She looked to high street brands such as Zara, Marks & Spencer, and Mango, sticking to blazers, boyfriend shirts, and knitwear in neutral tones – 'beiges, creams, and navy, to ensure she always looks polished'. Woolfenden also unearthed treasures from Gen Z-favoured brands, namely a perfect pair of high waist, wide-leg jeans from Stradivarius that Amanda wears with aplomb. Woolfenden did splurge on a few mini dresses from Self-Portrait for Amanda's date nights for 'that Chanel, put-together look', but without the true luxury price tag. Oh and heels – very high ones, from Steve Madden, and a pair of wedged trainers, from Dune. 'Amanda is never without her heels,' she says. 'I tried to introduce some smaller heels and [Lucy Punch, who plays Amanda] said, 'Oh no, Amanda needs the high heels.' 'Lucy and I had lots of conversations and constant WhatsApp exchanges, sharing images and ideas,' says Woolfenden. 'It was a very collaborative process.' As for overlaps with Punch's personal style? 'I would say I'm less girly than Amanda,' says Punch, who favours Acne Studios, Rachel Comey, and 'good old Zara' in real life. 'My style is scruffier, more crumpled, and much more practical, because I have a three-year-old – no creamy colour palettes!' To create the wardrobe for Joanna Lumley's Felicity, Woolfenden chose V-neck jumpers and blouses, loosely tailored, wide-leg trousers, and super chic coats (from Arket, Marks & Spencer, and Reiss, respectively), as well as chunky gold jewellery. '[Felicity's style] is not as put-together as Amanda's; it is elegant in an effortless, relaxed way,' says Woolfenden. Lumley especially loved a hot-pink, cap sleeve knit she wears in episode five. 'I let her take it home with her,' the costume designer says. Where are the clothes now? I wonder, casually considering a heist. 'They are super organised – dry cleaned, steamed, labelled, and hanging in bags on rails in a storage unit,' says Woolfenden. 'Hopefully for another series.' While we wait in hope for another series – and more great outfits – I quiz the costume designer to find out where each piece from Amanda and Felicity's best looks comes from. The creamy trench coat One can assume this is Amanda's first time at a school football match, not least because she is wearing biscuit-coloured cashmere and suede – specifically, a Reiss dress and sky-high Kurt Geiger boots. 'The heels kept sinking into the grass,' laughs Woolfenden. The trench coat in the series looks expensive but it was a purse-friendly ASOS find. Woolfenden bought it in multiples because of what befalls Amanda as she is striding across the grass (hint: it involves mud). The Zara handwarmers were chosen for their aesthetic appeal but ended up being rather useful. '[Lucy] was so thankful for them as it was quite cold,' says Woolfenden. Recreate the look: Chanel style (on a high-street budget) I think we can all agree that Joanna Lumley makes everything look ten times more expensive, so you may be surprised to know that the jacket in this scene is Zara, not Chanel. Woolfenden plucked both jacket and necklace from her own stock, a collection of pieces she keeps in her studio for additional costuming. The blouse is from Hobbs, and her wide-leg trousers are from Marks and Spencer. Interestingly, Felicity eschews an expected loafer for a slip-on trainer, also from M&S. 'She's a cool mum,' says Woolfenden. Recreate the look: Date night chic Woolfenden bought into some investment dresses for Amanda's date-night looks. '[I imagined] she would have spent more on them,' she says, pointing out this denim-tweed dress from Self-Portrait, which she styled with a pair of orange Karen Millen pumps. As for the matching tangerine bag, many have speculated it's an archived Mulberry design. It is actually from another brand – and is currently on sale. 'The brand is called Apatchy,' Woolfenden reveals. 'They have some really beautiful bags.' Recreate the look: Feminine tailoring Woolfenden found a perfectly boxy peacoat from Jaeger and paired it with an H&M boyfriend-style shirt and wide-leg jeans from Stradivarius. 'When they were doing the editing, someone from production messaged me saying 'Where's that outfit from? I wanna go buy it!' says Woolfenden. Recreate the look: The romantic knit mini dress 'I love all of her looks, but this date outfit is my favourite – and Lucy's,' says Woolfenden, of this knitted peplum dress she sourced from Self-Portrait. 'The [ruffles on the sleeves] work really well because Lucy is very physical when she's [acting].' Woolfenden completed the look with beige courts from Steve Madden (which she determined to be the most comfortable, even with a vertiginous heel), a pearl pendant necklace, and a structured tote that looks expensive but is, in fact, a Zara steal. In this scene, Amanda's usually scathing mother, Felicity, tells her she looks 'tip-top' – the highest compliment. Recreate the look Happy glamping attire Amanda isn't a happy camper but she is a chic one. For this scene, Woolfenden opted for Amanda-fied versions of traditional camping garb. No ordinary puffer jacket, Amanda's is nipped at the waist – and in wonderfully impractical cream. 'It took me a long time to find [one] that was elegant enough and not boxy,' says Woolfenden, who settled on this Uniqlo number, which she teamed with a top and Amanda's favourite wide-leg jeans, both from Stradivarius. The final touch? Those heeled Timberland boots. Recreate the look Never knowingly underdressed End-of-season football awards? Amanda doesn't stint on the glitz. The powderpuff jacket she wears in this scene is perfectly in character (i.e. jarringly incongruous.) Woolfenden found the OTT faux-feather jacket in River Island. 'I saw it and thought, 'Oh my God, that's so fun,' she says. 'It would keep her warm and it's silly, as well, in a way. It definitely felt like a costume, but in a wonderful way.' Felicity is comparatively more subdued, in a shimmery Hush jumper, a Chanel-alike quilted bag from Zara, her beloved Marks and Spencer trousers and trainers, and jewellery from Woolfenden's archive. Recreate Felicity's metallic knit look
