Allianz GI tops 2018 most researched funds

Asset Class in Focus

Turmoil in global equities markets and fears of an economic slowdown drove investors to investigate fixed income havens last year, FE data shows.

Allianz Global Investors’ Income and Growth fund was last year’s most-researched in the Hong Kong SFC authorised mutual universe on FE, according to year-end figures from the research firm.

The prospect of higher global interest rates and slower economic growth amid persistent geopolitical anxieties prompted investors to reassess the attractions of yield and income. Widening credit spreads, especially for high yield bonds, also offered tempting entry points.

The fund received a research figure of 21,617 in 2018, based on the number of times a fund featured in a research report and the number of times its factsheet was viewed.

The managers, Douglas Forsyth and Michael Yee, seek to generate long-term capital appreciation and income through a combination of equities, bonds and convertibles. Allocations were quite evenly split between the three asset classes – and were made almost entirely to the US markets – according to the most recent Morningstar fact sheet.

The €26.9bn ($31.1bn) fund made a standardised return of 1.02% last year, boosted by a strong second quarter. Its three-year annualised return is 12.28%, exceeding both the average of its category peers (3.51%) and its benchmark index (1.31%), as noted by Morningstar.

The Frankfurt-based firm, which manages $618bn globally, also filled the second and third places in the ranking for its Dynamic Asian High Yield Bond fund and US High Yield fund respectively.

In fact, six out of the top ten funds researched were dedicated fixed income funds. Apart from Allianz’s stable, they included funds managed by Templeton, Blackrock and HSBC with mandates ranging across global, Asian and Indian bonds.

 

Top 50 Researched – Hong Kong 

CitiCodeManagerFundSectorResearchRank
FPZLAllianzIncome and GrowthMixed Asset – Cautious216171
FXTUAllianzDynamic Asian High Yield BondFixed Int – US Dollar High Yield189762
FERIAllianzUS High YieldFixed Int – US Dollar High Yield176433
FT30TempletonGlobal Total ReturnFixed Int – Global171764
G19CHSBCAmerican IndexEquity – North America169795
G0ICBlackRockGF Asian Tiger BondFixed Int – Asia Pacific142716
GLUQBlackRockGF Global Multi-Asset IncomeMixed Asset – Cautious141077
G26VTempletonGlobal BondFixed Int – Global126418
G60ABaringsEurope Select TrustEquity – Europe Small/Mid Cap124429
F4PNHSBCGIF India Fixed IncomeFixed Int – Emerging Markets1200310
Source: FE. In US dollars. SFC Authorised Mutual Universe (1 Jan 2018 to 31 Dec 2018)

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