Hedge fund managers at this year’s Sohn Hong Kong Investment Conference pitched investment ideas spanning AI infrastructure, semiconductor supply chains and changing consumer spending habits, according to a report by Bloomberg.
The picks highlight how managers are positioning portfolios around two of the market’s most powerful secular growth themes.
Artificial intelligence-related opportunities featured prominently at the annual gathering, with managers backing companies ranging from AI-focused data centre operators and printed circuit board (PCB) manufacturers to construction firms expected to benefit from surging infrastructure demand.
Kenny Zhang, chief investment officer at Valliance Asset Management, highlighted AI cloud infrastructure provider CoreWeave as a key beneficiary of the next phase of AI adoption. Zhang argued that the rise of AI agents and digital workers will drive sustained demand for computing capacity, with Valliance forecasting CoreWeave’s annualised revenue could grow from around $1bn in early 2024 to $55bn by 2028.
Elsewhere, managers focused on potential bottlenecks emerging across the semiconductor supply chain. CloudAlpha Capital identified PCB manufacturers as a particularly attractive area, arguing that supply shortages could constrain broader industry growth.
The Hong Kong-based hedge fund singled out Taiwan-listed Compeq Manufacturing, one of the world’s largest PCB makers, with founding partner and co-CIO Chris Wang suggesting even major chip producers such as TSMC could face PCB-related capacity constraints over the next one to three years. Wang argued the company could be re-rated by investors as it expands production capacity while trading at less than 15 times earnings.
The AI infrastructure theme extended beyond technology suppliers. Keyrock Capital Management pitched Japanese electrical engineering and construction group Kandenko as a potential long-term beneficiary of a construction boom driven by AI data centre development, describing the company as a potential “structural winner” from the trend.
Alongside technology, managers also highlighted opportunities linked to evolving consumer behaviour, particularly among younger demographics.
Jun Y Oh of Griet Capital recommended Thai pet food producer i-Tail Corp, citing the long-term growth potential of the pet care sector as younger consumers increasingly treat pets as family members and allocate more discretionary spending to their care.
The fund manager pointed to growing pet ownership trends across Asia, noting that Gen Z consumers are spending significantly more on pets than previous generations.
Meanwhile, Hong Kong-based Kaleido Capital Partners focused on food brands resonating with younger consumers, identifying South Korean instant noodle producer Samyang Foods as a beneficiary of rising international demand. The firm expects continued growth from expanding sales in overseas markets, including Europe and the United States, alongside improving profit margins.
The conference presentations reflected a broader shift in hedge fund positioning towards long-duration thematic investments, with managers seeking exposure both to the infrastructure underpinning the AI boom and to demographic trends reshaping consumer spending patterns across Asia.
