Stock fund with 61% return this year likes China, EV stocks

Alibaba Group Holding, Tencent Holdings and video streaming service provider Bilibili Inc. are among its top holdings.

A HIGH-PERFORMING Matthews Asia fund manager says China is in a "sweet spot” for investors, thanks to rising individual wealth in the nation.

In some cities in China, residents have seen their incomes rise above $10,000 per capita, a global milestone for middle-class status, said San Francisco-based Michael Oh, manager for the Matthews Asia Innovators Fund. His fund has returned 61% this year and beat 90% of its peers.