FSSA Greater China Growth Class B - Accumulation (GBP)

Lau has an excellent long-term track record. The FSSA Greater China Growth Fund launched in 2003 and it has since performed much better than the average fund in the IA China/Greater China sector. Other funds Lau has run over his career have also outperformed their respective benchmarks. Our research shows he has achieved this by focusing on the prospects of individual companies, rather than taking a view of the wider economic environment. As with any investment in emerging markets, investing in China can be more volatile than developed market investing. Remember, past performance is not a guide to the future.

Lau and his team look for quality companies they can invest in for the long term. They are conservative investors, looking after clients' money as if it's their own, and view themselves as long-term stewards of investors' capital.

Lau likes companies with a competitive advantage that others struggle to replicate, such as a well-known brand or the ability to raise prices for their products without affecting demand from customers. They should have the potential to grow earnings sustainably over the long run, and be run by reputable management teams that don't take unnecessary risks in the pursuit of short-term gains.

Importantly, companies must also take into account environmental, social and governance factors. They should cause little, if any, harm to the environment around them or the labour they employ, for example. Over time it's become an increasingly important part of the team's investment process. If they don't think a business meets these standards or is doing enough to address a particular problem, then they won't invest.

At the moment the fund mainly focuses on sectors that could benefit from rising consumer spending, including technology, and companies that produce consumer staples such as food and beverages. It mainly invests in larger companies, though the fund can also invest in higher-risk smaller companies.