Yesterday, when US markets closed, a milestone was reached. The run of the S&P 500 reached 3,453 days of reasonably steady growth to became the longest bull market in US history. It beat the previous record bull run from October 1990 – March 2000.
In the universe of funds available for sale in Hong Kong and Singapore, looking at the US equity category, FSA found the top five funds that outperformed the S&P.
The period measured is from March 9, 2009, when the S&P set the last low:
Point Taken
Morgan Stanley has made a point about active vs passive management. It has two funds in the top five and one is the best performer over the period – the Morgan Stanley US Growth Fund with a 523% return vs the S&P 500’s 416%.
Over one-, three- and five-year periods, the fund has also been number one in the US equity category (out of roughly 70 peer funds), according to FE data.
The lead manager is Dennis Lynch, who has support from five deputy managers, according to FE.
The fund is focused on long-term growth. The team looks for “high-quality established and emerging companies with sustainable competitive advantages, strong free-cash-flow yields and favorable returns on invested capital trends,” according to the factsheet.
However, there is a caveat. It comes with ongoing charges of 2.44%, the highest in the category.
The entire US equity category, of course, was positive, with an aggregate 306% return.
The under-performers that did not beat the sector nonetheless recorded gains of 200%+, FE data shows:
