Steve Cohen’s Point72 is bullish on Asia and likes these sectors

Finance


Marc Desmidt, Point72’s CEO of International, likes two sectors in China in particular.

“The emergence of China and its growing wealth, means that people in China are much more focused on their physical and emotional well-being,” Desmidt said. “Health care today is in a phase in which it’s still largely in the private sector, certainly in China.”

Desmidt said he expects more health care companies to have publicly traded shares within the next two to three years.

He’s also interested in China’s financial services.

“In the past, financial services was probably was essentially banks and some insurance businesses, but today it’s much more diversified as you see the growth in asset management or payments lending more generally,” he added.

While Point72 is not actually in China at the moment, Desmidt said Hong Kong is in an increasingly important position to take advantage of into the region’s opportunities.

Point72 declined to comment on whether it’s raising raising capital in Asia.

Despite, the SEC ban ending earlier this year, it has not been an entirely smooth period for the firm. In March, Point72’s president, Douglas Haynes, resigned amid a lawsuit alleging sexual discrimination. Steve Cohen is now acting president of the firm.



Source link

Products You May Like

Articles You May Like

Macy’s earnings q2 2018
Viacom reports 3.7% drop in quarterly revenue  
Clare Bronfman, From Seagram heiress to defendant in Nxivm’s sex cult
JPMorgan card users get upgraded as rewards portal switches to Expedia
Tesla board plans to meet with financial advisors for go-private talks

Leave a Reply

Your email address will not be published. Required fields are marked *