Fund performance in the consumer discretionary and consumer staples sectors continued to be disappointing, and were the biggest detractors of relative performance. Among them, Sands China (HKSE:01928), a major casino operator in Macau, fell under continued selling pressure during the quarter as near-term revenues were negatively affected by China’s anti-corruption campaign.
From Matthews China Fund (Trades, Portfolio)’s Q3 2014 Commentary.
