Fidelity's Ma prepares to add risk after China sell-off

Fidelity's China Consumer fund manager Raymond Ma is set to move less defensive as valuations look more attractive after the September sell-off.

Ma said the falls suffered by Chinese equities in the past week in particular have made sectors such as consumer discretionary look more attractive, in part due to the resilience of Chinese retail sales figures. Hong Kong's Hang Seng index fell by more than 9% last week, and by a further 1.5% on Monday, as investors took flight from equities across the globe. Ma said it is difficult to predict the timing or nature of a resolution to the eurozone crisis, but suggested he is on surer footing in terms of his view of the Chinese economy. "The thing I am more certain of is my belief tha...