Pzena Fund Bets on China Recovery, Ups China Stocks to 33% in Q3
• Pzena Emerging Markets Value Fund increased its exposure to Chinese stocks in Q3 2022, betting on oversold conditions • The fund boosted China/Hong Kong allocation to 33% from 29%, outperforming the MSCI EM index • Pzena added China Merchants Bank and WH Group in Q3, betting on economic recovery • The $1.5B fund has outperformed 97% of peers over 3 years due to stock picking • Top holdings include Alibaba, China Overseas Land, on belief in quality businesses with scale