亚洲基金表现总结101215.docx

Summary: Brand-Asia Fund摘要：品牌-亚洲基金Summary摘要Brand-Asia Fund offers an opportunity for investors to own leading consumer fashion brands from Europe to capture the enormous growth of the aspirational middle and upper middle class in Greater China rest of Asia. The Fund is an attractive way to capture the returns from key macro-economic trends, changing dynamics in the industry and attractive valuations terms available today. The investments are managed by a unique, experienced team that brings past success combined expertise from the brand industry, finance and media.品牌-亚洲基金为投资者提供拥有欧洲顶级时尚消费品牌的机会，享受大中华和亚洲其他地区渴望消费的中产阶级和上层人士发展壮大所带来的红利。该基金善于抓住关键宏观经济趋势、不断变化的行业动态以及眼下极具吸引力的估值和条件所带来的回报。一支独一无二、经验丰富的团队负责管理基金的投资，具备品牌行业、金融和媒体等领域的骄人战绩和全方位知识。The Opportunity机会Rise of income and demographics to fuel demand收入增长和人口特征共同推动需求The global economy will experience economic cycles and its share of headlines of changing markets and government polices(e.g. China). But for the next 15 years, it is an uncontested fact that middle class consumer spending growth will be dominated by Asia Pacific. The region is expected to grow from nearly $5 trillion to over $30 trillion while at this time, North America will be nearly flat with only nominal growth in Europe. 全球经济将经历经济周期及其对不断变化的市场和政府政策主题的影响（如中国）。但是未来15年，毋庸置疑亚太地区将主导中产阶级消费支出增长。该地区有望从近5万亿美元增长到30万亿美元以上，与此同时，北美将几乎持平，欧洲则将有微弱增长。In the fashion sector, from 2013 to 2018, Europe is expected to decline at negative 15%, US markets is expecting growth of +8%, but Asia Pacificwill remain as the star at +16%. For most fashion brands, majority of their profits have come from Asiain the past and despite recent headlines, this trend will not change. For most brand owners, they are faced with the reality that the growth in revenue and profits for their business will be driven by what they do in Asia.在时尚行业，从2013年到2018年，欧洲预计将衰退到15%的负增长，美国市场增长预计超过8%，而亚太地区将一枝独秀，保持16%以上的增长。对于大部分时尚品牌来说，过去他们的大部分利润来自亚洲，尽管最近发生了萎缩，但是这一趋势不会改变。对于大部分品牌所有者而言，他们面临的实际情况是他们在亚洲的作为将推动业务收入和利润增长。With