On 18 November 2022, a group of investors gathered in Hobart for the 2022 Sohn Hearts and Minds Investment Leaders Conference. Some were there to pitch their best idea – including Munro’s Nick Griffin and Tribeca’s Jun Bei Liu, who just days earlier had been appointed Core Fund Managers of Hearts & Minds Investments Limited (HM1).
Jun Bei Liu bounded onto the stage dressed head to toe in designer gear, the sort you can buy at her stock pick China Tourism Group Duty Free Corporation. This is the largest duty-free operator in China with around 90% market share and a monopolistic position across most tier one city airports, including Beijing and Shanghai.
Nick Griffin channelled his inner Paul Kelly to weave a story about the Dutch-listed lithography business, ASML, a company Nick considers to be one of the most important in the world.
The views expressed are her own and do not consider the circumstances of any investor.
