Posted inHead To Head

HEAD-TO-HEAD: Eastspring vs Invesco

FSA compares the Eastspring Investments India Equity Fund and the Invesco India Equity Fund.
by Francis Nikolai Acosta
Performance

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*All fund NAVs have been converted to US dollars.

The chart shows the three-year performance of the funds and their benchmark, according to FE data.

Both funds performed better than their benchmarks over the three-year period. However, Eastspring’s performance movements are close to its index, while the Invesco fund outperforms its index by a huge margin.

“The Eastspring fund tends to stick with stocks with low valuations, which are mostly large-cap companies in India, which explains why their returns are similar to the benchmark,” Ng said.

Ng explained that the Invesco fund’s huge outperformance is attributable to the market’s pricing in strong growth opportunities in the private sector, which are mostly small- and mid-cap companies.

In terms of volatility, the Eastspring fund is less volatile compared to its benchmark and to the Invesco fund, according to FE data.

 

  Three-year volatility
Eastspring fund

16.15
     MSCI India

16.76
Invesco fund

17.27
     MSCI India 10/40

16.7
Source: FE Analytics

According to Ng, large-cap companies in India tend to have lower volatility. However, he said that although Invesco has a slightly higher volatility, it still invests in high-quality companies that have sustainable earnings.

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