The FSA Spy market buzz – 19 April 2024
Doom and gloom on China, Peaks and troughs from First Sentier, Ninety-One looks at failure, Lombard Odier’s good news, Corporate jargon hell, Visit cheap Japan and much more.
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.
Doom and gloom on China, Peaks and troughs from First Sentier, Ninety-One looks at failure, Lombard Odier’s good news, Corporate jargon hell, Visit cheap Japan and much more.
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