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: Invesco vs JP Morgan
FSA compares two Asia-Pacific mixed-asset funds: the Invesco Asia Balanced Fund and the JP Morgan Asia Pacific Income Fund.
Between the two funds, Ng picks the JP Morgan fund as his choice. The management team has been stable and has a good mix of skills. The fund is more strongly focused on stable income generation.
By comparison, the management of the Invesco fund is in the state of flux, and while Ng holds Shiao in high regard, the fund is not as clearly focused on income-generation, but includes elements of a total-return strategy.
The comparison of both funds’ historical returns also favours the JP Morgan fund, despite a slightly higher fee.
At the moment, the Invesco fund, with its lower exposure to financials, may appeal to investors who are less positive on cyclical stocks, Ng commented.
“But the key takeaway is that we should take a bit more time to observe how the new manager is doing,” he said.
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