Aberdeen’s Young Adds Tencent, Keeps China Bets During Selloff
Asset manager is not avoiding any sectors except education. Young’s China investment views contrast with Ark’s Cathie Wood. Veteran fund manager Hugh Young said his firm bought the dip in Tencent Holdings Ltd. and kept most of its other big-tech holdings in China largely unchanged during the recent selloff on expectations these stocks will emerge as winners despite policy crackdowns.While keen on Chinese tech,Aberdeen Standard Investments, which oversees about $639 billion in assets globally, is