TR Pacific goes overweight Asian consumers

Henderson TR Pacific manager Andrew Beal backs Asian consumer spending to hit $16trn mark as middle section of society gets richer

Henderson Global Investors Andrew Beal has reshaped his £350m TR Pacific investment trust towards the Asian consumer, with two-thirds of the portfolio betting on the theme. Beal has revamped the portfolio to benefit from the rising wealth of the Asian middle class consumer, which he believes will propel consumer spending from $8trn to $16trn in the next decade. Beal has added 10% to consumer discretionary stocks since the turn of the year, moving to a 15% overweight position to tap into rising consumer expenditure. “Over the past ten years the growth in Asia has been in the low-cos...