Clariden Luxury Goods Equity Fund - Forsyth Rating: A

The increased affluence of Russian and Chinese consumers has resulted in a strong increase in demand for luxury goods. Stores in Hong Kong for instance are constantly packed by tourists from mainland China that want to buy a new Louis Vuitton bag or Rolex watch. Therefore we believe that the luxury goods theme offers investors that believe in the China story an alternative way to play it. Although emerging economies are important drivers for demand, the developed economies should not be neglected. The manager, Scilla Huang-Sun, does not believe the US consumer will stop spending money ...