The FSA Spy market buzz – 13 December 2024
M&G’s positive outlook; Wisdom from Schroders’s podcast; Alliance Bernstein on the power of curiosity; Janus Henderson on responsible AI; China’s retirement revolution; Apple and much more.
HEAD-TO-HEAD: Fidelity vs MFS
FSA compares two European equity funds: the Fidelity European Fund and MFS Meridian European Research Fund.
Pictured: Mathieu Caquineau, Morningstar’s senior analyst for manager research
Brexit, upcoming elections in the Netherlands, France and Germany, terrorist attacks, Greece’s economic crisis, capital problems at Deutsche Bank…Negative news has constantly clouded Europe, but are European equities overlooked by investors?
In US dollar terms, the MSCI Europe and FTSE 100 indices gained about 13% each in the past 12 months, although the performance still lagged other the S&P 500 and the MSCI Asia ex-Japan index, both of which surged about 24%.
Bill Maldonado, HSBC Global Asset Management’s APAC CIO, said investors should not be over concerned about geopolitical events such as Brexit vote in Europe, as “the market is pretty good at absorbing them” in the long run.
Tai Hui, JP Morgan Asset Management’s chief market strategist in Asia, believes “the markets are understating the growth potential in Europe”, while some European export companies will also benefit from better US growth because they have a relatively lower probability of a trade dispute.
Against this backdrop, Mathieu Caquineau (pictured above), Paris-based Morningstar’s senior analyst for manager research, provides a comparative analysis of the Fidelity European Fund and MFS Meridian European Research Fund.
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