Sell H.K. Property Stocks on Trump Win Says $13 Billion Manager
- PGGM’s Op ’t Veld says protectionism might hurt global trade
- Pension manager says it cut U.K. holdings before Brexit vote
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Investors should dump Hong Kong real estate stocks if Donald Trump wins the U.S. presidential election in November, according to a Dutch pension fund manager who oversees almost $13.5 billion of property equities globally.
A win for the billionaire real estate mogul could bring about more protectionism and hurt world trade, which would have a significant impact on China and Hong Kong, said Hans Op ’t Veld, head of listed real estate at PGGM. The impact of a victory for the Republican candidate would be as far reaching as the U.K.’s Brexit vote that caused Japanese real estate stocks to fall, he said.