Invesco and its China JV, Invesco Great Wall (IGW), are committed to helping China with immediate healthcare relief from the COVID-19 Coronavirus outbreak and support longer term disease prevention measures. 

Since early February, Invesco Great Wall (Shenzhen Ltd) has helped China address the situation by donating RMB 1 million to the Hubei Charity Federation to provide medical supplies to hospitals in Wuhan.  It has donated an additional RMB 1 million to the Zhong Nanshan Medical Foundation of Guangdong to support work on finding a cure for the Corona virus. 

To show confidence in the market, Invesco Great Wall will be investing RMB 35 million of its firm capital into IGW-managed equity mutual funds.  IGW employees and families have also made commitments to invest no less than RMB 35 million of personal funds into IGW-managed equity mutual funds.  Invesco believes by working together, China will be able to overcome the current challenge and emerge resilient.

Invesco and Invesco Great Wall have been working closely during this time to ensure a supportive environment for employees, including encouraging those in affected cities to work from home as necessary. There are stringent emergency management strategies in place to ensure clear communications and frequent updates are available during this critical time. Top priority is given to the well-being and safety of Invesco employees and their families.
 
About Invesco Ltd.
Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
 

Invesco Pension Member Seminar was successfully held online on 19 June 2020, with our reputable experts sharing their insights on the trend of the MPF system development and global investment markets. The event featured our seasoned investment professionals including William Yuen, Investment Director, providing his analysis on China and Hong Kong equity market outlook; and Nixon Mak, Managing Director, Head of Hong Kong Pensions and Solutions Strategist, Asia Pacific, sharing his views on the global market outlook and asset allocation of the MPF portfolio in a turbulent time. This webcast can now be viewed On-demand. Use this link to enter the webcast at any time.

• Market outlook for equities amid ever-evolving investment landscape
  
  At this webinar, our investment experts shared their views on different equity markets. We have William Yuen, Asian Equities Portfolio Manager; Alexander Tavernaro, CFA, Quantitative Strategies Portfolio Manager; Oliver Collin, European Equities Portfolio Manager and Corinna Lau, Head of Asian Equity Products.
   
• Navigating the forces shaping the global fixed income markets
  
  Our fixed income specialists Freddy Wong, Managing Director – Head of Asia Pacific, Fixed Income and Lyndon Man, Co-Head of Global Investment Grade Fixed Income shared their views on the factors which shaping the global fixed income markets.

United States

• The coronavirus pandemic led to the worst GDP slump in American history with the economy shrinking at an annualised rate of 32.9% in the second quarter. However, equity markets advance due to a further rally in technology stocks. 
• While US economic activity is expected to pick up in the third quarter, many states have had to pause or roll back reopening plans to deal with new coronavirus cases. Which could provide further headwinds for the US economy.

Europe (including UK)

• European and UK equity markets retreated over the month as the second quarter earnings season kicked off and weak earnings weighed on sentiment. Markets were further rattled by rising tensions between the US and China.
• European governments agreed a joint €750 billion Eurozone recovery fund. The agreement provides support a solid recovery for the economy.

Asia Pacific (ex Hong Kong ex China ex Japan)

• Asian equity market performance was positive over the month amid robust tech earnings releases, progress on vaccine development and hopes of fresh stimulus from governments and central banks.
• Our preference for North Asia remains unchanged. In South Korea and Taiwan, we are positive towards their technology capabilities. We remained concerned about other parts of Asia. Confirmed cases continued to be on the rise in India, Indonesia and Philippines, posing challenges to short-term economic prospect.

Hong Kong and Mainland China (H-shares)

• Chinese market delivered strong performance in July. Despite some small localized outbreaks, the COVID-19 situation was largely under control across the nation. Hong Kong market finished lower. There has been a resurgence in infected cases in the territory and the local authority has tightened lockdown measures, causing concerns over its growth prospect.
• Our long-held convictions on Chinese equities remain unchanged. We believe its economy will continue to recover as business activities further normalize. In Hong Kong, the recent resurgence in confirmed cases concerns investors, but we are confident in its government’s capabilities in managing the situation.

Japan

• Japan’s equity market was down after a volatile month as the Covid-19 infection rate continued to rise leading to growing uncertainty. The reporting season began this month and, so far, a higher percentage of companies have reported positive surprises than negative.
• We believe that the largest-ever stimulus package coupled with pent-up demand should eventually reboot economic and corporate activity after the crisis for the coming quarters.

Fixed Income

• July was another strong month for bond markets. Concerns about an increase in the pace of Covid-19 infection rates in some regions were countered by rising hopes of a vaccine following successful early trials.
• Easier financial conditions should support global interest rates, but this expectation is largely priced into markets, in our view. We do not expect upward pressure on bond yields in the near term. Valuations are tight and the policy impetus that has driven the market recovery is slowing.

Emerging Markets

• Global emerging equity markets continued their recent strong run by extending the rally. In terms of regional performance, Latin America came top, followed closely by Asia. Taiwan recorded its best monthly returns in more than a decade, driven higher by the strong performance of technology stocks.
• While growth forecasts have declined around the world, the abundant liquidity provided by central banks and the fiscal response by governments have been the drivers for asset prices so far. We expect these extraordinary measures to continue, which should further support EM asset prices.

From the perspective of Hong Kong pension investing. All data are sourced from Invesco dated August 18, 2020, unless otherwise stated.