This millennial China stock guru has banker parents, but won't touch banks

HONG KONG (March 14): Baijing Yu was raised by two generations of Chinese bankers and talks with pride about her family’s contributions to the nation’s financial system over nearly seven decades.

But would the 32-year-old stock picker risk a penny of her clients’ assets on shares of a Chinese lender? Not a chance.

Yu, whose Comgest Growth Greater China fund has returned an annualized 22% over the past three years, says growing up in a house of Chinese bankers has only reinforced her view that the sector is un-investible. Lenders in China are often policy tools of the government, she says, with “black box” balance sheets that provide little clarity on their exposure to non-performing debt.

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