Top Equity Funds in Asia Are All Buying China’s Green Stocks

Vehicle batteries sit on display at the Contemporary Amperex Technology Co. headquarters in Ningde, Fujian province, on June 3, 2020. Photo: Bloomberg

(Bloomberg) — What do Asia’s five best-performing $1 billion-plus equity funds for 2021 have in common? They are all betting big on China’s renewables push.

The funds returned at least 40% each by investing in stocks that are part of the renewables and electric-vehicle supply chains, according to data compiled by Bloomberg. The $3.7 billion China AMC Energy Innovation Equity Fund led the pack with total returns of 55%, followed by First State Cinda New Energy Industry Equity Fund and HSBC Low Carbon Pioneer Fund.