Posted inHead To Head, News, Research

HEAD-TO-HEAD: Alliance Bernstein vs JP Morgan

FSA compares two emerging market equity products: the AB Emerging Markets Growth Portfolio and the JP Morgan Emerging Markets Equity Fund.
by Fund Selector Asia
Manager review

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“Both teams are well resourced with long-term experience in emerging markets,” Ng said.

The AB fund is managed by a team led by Laurent Saltiel, CIO of the emerging markets growth unit. The fund names two other managers, Sergey Davalchenko and Guojia Zhang, They are supported by seven dedicated analysts who specialise by sector.

AB’s emerging markets equity team consists of around 40 people in several locations around the world.

By comparison, the JP Morgan team is led by Leon Eidelman, who was named lead manager in July 2016, but has been the primary decision maker since January 2015 and part of the team since 2002.

“We noticed that he identified the paradigm shift from commodities to information technology within the emerging markets and he acted accordingly, thus adding value to the fund,” said Ng.

The JP Morgan emerging markets Asia-Pacific team, which manages the fund, consists of around 90 people, according to Ng. The fund manager is supported by regional and country-level portfolio managers and a team of sector analysts.

Ng noted that unlike many fund management teams that mix the responsibilities of analysts and fund managers, both the AB and the JP Morgan teams maintain the separation of these tasks. Analysts provide research and investment ideas, while portfolio managers are responsible for making investment decisions and constructing the portfolio.

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