Notes from the road: Sri Lanka
With Sri Lanka’s economic woes evolving into both a humanitarian and political crisis, Mark Evans shares insights gained on his recent trip to the country.
13 Sept 2023
As we entered 2023, there was much excitement about China’s economy re-opening and the positive impact this would have on the broader equity market. But the anticipated recovery hasn’t happened, with optimism fading following a slew of weaker-than-expected macro data. To find out what is actually happening on the ground, I made my first trip to the mainland since before the pandemic, visiting eight companies – all holdings within 4Factor – across five cities. None of the corporate management that I spoke to expect significant stimulus measures, so it is down to the individual companies to deliver growth for shareholders. In this note, I share some observations from my meetings, and explain why I left the country feeling more positive than when I landed.