Fixed-asset investment rose 25.8% in the first five months, up from 25.4% in the January to April period.
Exports have held up well, fixed-asset investment and retail sales have been strong and credit growth has accelerated.
WSJ: IMF's Asia Chief Anoop Singh Says China Slowdown Fears Overblown
China's Shanghai Composite Index lost 0.2% after news that industrial production for April and urban fixed-asset investment for the January-to-April period didn't rise as much as expected.
Industrial output in December rose 10.3 percent from the fourth quarter of 2011, while 2012 non-rural fixed-asset investment climbed 20.6 percent year-over-year, all in line with market expectations.
Asked about the emergence of ghost towns across China and the risks of excessive, and unnecessary, infrastructure development via fixed-asset investment, Guthrie chose to focus on demographic trends.
Industrial production, retail sales and fixed-asset investment were all up in November, while new home prices rose in 53 out of 70 major cities in China in November, from the previous month.
Also showing strength on the year are Fixed Income-Asset Backed strategies which returned 6% year to date.
"The cleanest example is someone who wants to retire early and had a pension plan but they don't want to start receiving pension payments, " says Boyce Greer, president of Fixed-Income and Asset Allocation, Fidelity Investments.
During the same time frame high-yield bonds slumped 26% and bank loans fell 24%, while 5-year Treasuries gained 16%, according to our research (municipal bonds, another high-quality fixed income asset class, returned 9% over the same time span, as measured by the BarCap 5-year Municipal Bond Index).
FORBES: Are Your Bond Holdings Raising Your Portfolio's Risk Profile?
The year-to-date fixed asset investment (FAI) growth an important gauge of the Chinese government spending came in stronger than expected, rising 21.5% year-over-year.
FORBES: China Still On Track To Beat Government's 7.5% Target
The BlackRock segment manages assets on behalf of institutional and individual investors worldwide through a variety of equity, fixed income, multi-asset class, alternative and cash management separate accounts and funds, including iShares.
Not that you need to deprive yourself of yields if you want to get into fixed-income, an asset class as a whole that has flexed its muscles of late, but you would have had to take on some credit risk.
FORBES: Ford And Icahn Look Like Better Bond Bets Than Uncle Sam
Manufacturing fixed asset investments and export-driven sectors are two areas that could face structural headwinds for the next several years as China moves away from an export-driven economy.
Mr Gilbert said the level of fixed-income business that had left Aberdeen Asset Management had "slowed significantly" and the company continued to be successful in attracting new investment to global equity and emerging market equity funds.
Rather, they hold fixed allocations in several asset classes using low-cost index funds or exchange-traded funds (ETFs) and rebalance their portfolios back to a target as needed.
Bill Gross, a fixed-income champion at Pimco, an American asset-management firm, predicted last September that bond returns will outstrip equities until share prices fall to their fair value, that is, until the Dow Jones Industrial Average is at 5, 000 rather than today's 8, 000-odd.
ECONOMIST: Investment: In search of those elusive returns | The
These low-cost funds, coupled with a fixed strategic asset allocation based on needs, create a high probability solution for nearly every investor.
Andy notes in his most recent report that value-added for larger industrial firms and fixed asset investment rose at a pace consistent with 8 to 8.5 percent GDP growth.
The most significant part of the program is its open-ended nature rather than a fixed amount or time period for its asset purchases.
They can also fill the role of a less-correlated asset for investors with more traditional positions in equities and fixed income.
ETPs are now available for a wide range of equity asset classes, sub-classes, styles and sectors as well as fixed-income, commodity and foreign currency categories on a long and short basis.
The need for income certainty will become much more important than before and all of these factors are conducive to fixed income and positive for the development of greater depth and breadth of the regional asset-management industry.
WSJ: Pimco's Guiding Asia-Pacific's Investor Evolution: Ki Myung Hong
While Credit Suisse says FAI growth was boosted by government investment stimulus, CLSA also notes that fixed asset investment and capital spending by private firms has been rising faster than state-owned firms for 30 of the last 31 months.
FORBES: World Starting To See Big Bargains In Chinese Stocks
应用推荐