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A Chinese fund manager has excelled by investing in Gen Z favorites like Pop Mart, achieving a 24% return this year. A 30-year-old Chinese fund manager has outperformed most of his peers this year, not by banking on tech giants but by using Gen Z's favourite names like Pop Mart, which created the widely popular Labubu dolls.
A 30-year-old Chinese fund manager has outperformed most of his peers this year, not by banking on tech giants but by using Gen Z's favourite names like Pop Mart, which created the widely popular Labubu dolls.
According to a Bloomberg report, Xie Tianyuan's Penghua Selected Return Flexible Allocation Mixed Fund has delivered a 24% return so far this year, placing him in the top 3% of nearly 2,300 funds.
After taking over in 2024, the Shenzhen-based fund manager quickly replaced the fund's top holding, a liquor distiller called Kweichow Moutai Co and replaced it with the Labubu doll maker.
The young fund manager's breakthrough strategy leans heavily on “emotional consumption,” a fast-growing trend among Gen Z and young Chinese consumers.
“I pick companies that have breakthrough products, new business models and innovative sales channels, products that are both visually appealing and fun,” Xie said.
Growing up with Japanese anime culture, Xie said he developed an eye for identifying promising characters or designs, using a mix of personal fandom and online research.
Pop Mart now accounts for 10.5% of his fund, the maximum allowed under his portfolio rules. Other holdings also reflect Gen Z buying habits, including Mao Geping Cosmetics, which is up 83% this year, pet food brand Yantai China Pet Foods and Chongqing Baiya Sanitary Products.
“The line between what is considered ‘old' and ‘new' consumption is blurring, and more companies will join the new consumption pool once they realise that there's no future for them eking out a survival in their comfort zones. Even old trees can sprout new shoots," he said.
Still, the trend isn't without its drawbacks. Pop Mart shares dropped recently after state media called for tighter regulation of “blind box” toys, which rely on the surprise element to boost repeat purchases.
Source: HindustanTimes
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