Posted inHead To Head

HEAD-TO-HEAD: Comgest vs Robeco

FSA compares the Comgest Growth Emerging Markets Fund and the Robeco Emerging Stars Equities Fund.
by PA Adviser
Conclusion

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The Comgest fund receives a Morningstar analyst rating of Gold and a five-star rating, compared to a Silver and four-star grading of Robeco’s.

Morningstar’s analyst rating is a forward-looking analysis of a fund, while the star rating looks at historical risk-adjusted performance.

A Gold, Silver, or Bronze rating means Morningstar analysts expect the fund to outperform over a full market cycle of at least five years.

“The Comgest fund stands out as the experience of the team is longer than Robeco’s, and the fact that it has a strong team that spreads across different countries. The investment philosophy has also been tested since 1999,” Caquineau explained.

“We also like the investment strategy, which is robust and applied throughout the years with great consistency.”

For the Robeco fund, “it has a meaningful ten-year track record, but a relatively shorter period than the Comgest’s.

“In terms of strategy, the top-down element has done a reasonably good job, but I think it’s harder to make a consistent right call on [the five chosen] countries. It is hard to time it right.”

Still, he believes the two funds have complementary strategies. “They would make a good combination in the portfolio as they tend to react differently to the same market environment.”

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