China’s regulatory crackdown on tech could last decades, but that’s not likely to deter long-term investors from putting money in them, predicts GFM Asset Management’s Tariq Dennison.
“If you ask me I’d say, give it at least another 20 or 30 years,” Dennison told CNBC’s “Squawk Box Asia” on Monday when asked how much longer the months-long crackdown could last.
“All this has happened in stages – look how far tech regulation has come in just the past 30 years,” the wealth manager said. “These things may look like they happen in steps, but there’re many, many steps over a very, very long road.”
Still, he doesn’t expect long-term investors to be deterred by the uncertain regulatory outlook.
“I would say right now, patient capital is actually buying more and more shares of Baidu, Alibaba, Tencent and JD because they’re looking at the long-term prospects,” Dennison said. Patient capital generally refers to investments that have a longer time horizon and are…