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Allianz GI tops 2018 most researched funds

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 

CitiCode Manager Fund Sector Research Rank
FPZL Allianz Income and Growth Mixed Asset – Cautious 21617 1
FXTU Allianz Dynamic Asian High Yield Bond Fixed Int – US Dollar High Yield 18976 2
FERI Allianz US High Yield Fixed Int – US Dollar High Yield 17643 3
FT30 Templeton Global Total Return Fixed Int – Global 17176 4
G19C HSBC American Index Equity – North America 16979 5
G0IC BlackRock GF Asian Tiger Bond Fixed Int – Asia Pacific 14271 6
GLUQ BlackRock GF Global Multi-Asset Income Mixed Asset – Cautious 14107 7
G26V Templeton Global Bond Fixed Int – Global 12641 8
G60A Barings Europe Select Trust Equity – Europe Small/Mid Cap 12442 9
F4PN HSBC GIF India Fixed Income Fixed Int – Emerging Markets 12003 10
Source: FE. In US dollars. SFC Authorised Mutual Universe (1 Jan 2018 to 31 Dec 2018)

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