Investment manager BlackRock has launched its BGF China Fund, to be co-managed by Jing Ning and Alan Wang in Hong Kong. The team in Asia is led by chief investment officer Nick Scott. The fund will seek to maximise total returns by exposure to growth in the Chinese economy, driven by increased consumer spending, investment in infrastructure and export growth.

The new fund will invest at least 70 per cent of its total assets in the equity securities of companies domiciled in, or exercising the predominant part of their economic activity in, the People's Republic of China. Its benchmark is the MSCI China 10/40 index.

The new fund expands the company's offering to investors in its flagship BGF umbrella to 61 funds.

Mr Scott said: “This launch comes as China reaches a turning point in its economic cycle. It is moving from a low-margin, labour and energy-intensive exporting economy, to becoming a domestically-fuelled economy driven by its transition to a consumer society. Its equity markets offer a wide variety of choice from smaller companies listed on mainland China to massive, partially state-owned conglomerates.”