Manager Reviews
The Fullgoal product has been managed by Shaoxing Zhu since its November 2005 inception date, making Zhu one of the most experienced and longest-tenured fund managers in China, Li said.
“Zhu is a stable manager and has a consistent growth-oriented investment strategy.”
His previous roles include director of fund research and fund analyst at Fullgoal and equity analyst at China AMC.
“The fund manager has shown patience in holding his positions for a number of years,” he said.
The Lombarda fund is co-managed by Weiwen Zhou, who manages 95% of assets, and Yingrui Lin, who manages the remainder, Li said.
Zhou has 16 years of experience in the securities industry and five years in fund management, Li said. He has been in charge of the fund since May 2011. Prior to his current role, he served as a research analyst at Everbright Securities, as well as a senior research analyst and fund manager at Fullgoal.
“Zhou has delivered a good track record for all the funds he has managed,” Li said.
Lin, the co-manager, joined Lombarda in October 2012. He previously served as fund manager assistant before becoming the co-manager in May 2015.
Fees
The annual management and custodian fees of the Fullgoal fund are together 1.50%. The same fees are much lower for the Lombarda fund at 0.25%, according to Li.
He added that the fees are in line with peer funds.
Conclusion
Both funds target growth stocks as core investments in their portfolios, which is a suitable strategy for aggressive investors, Li said.
Fullgoal’s fund is also run by Shaoxing Zhu, one of the most experienced and longest-tenured fund managers in China, as mentioned earlier.
However, on a medium-to-long-term basis, Fullgoal’s portfolio concentration and high equity exposures make the fund vulnerable to higher downside risks than the Lombarda fund, he said. “Investors need to be cognisant of the risk of the Fullgoal fund.”
For investors who want to hold funds with less volatility, the Lombarda fund could be a better option, Li said.
“We believe the Lombarda fund’s impressive downside risk management adds to the appeal,” he said.
