Posted inHead To Head

HEAD-TO-HEAD: JP Morgan vs Schroders

FSA compares two China mixed asset products — the JP Morgan China Income Fund and the Schroders China Asset Income Fund.
by Francis Nikolai Acosta
Manager review

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The JP Morgan fund has three lead managers that decide the asset mix of the fund: Lilian Leung, a country specialist for China equities and a member of the Greater China team within the emerging markets and Asia-Pacific equities team, Stephen Chang, head of Asia fixed income and Emerson Yip, an investment manager within the Greater China team.

Chang and Leung have managed the fund since 2011 and 2013, respectively, while Yip became one of the managers in February this year.

According to Ng, Leung specialises in China A-shares, while Yip has more responsibility for offshore Chinese equities. All three are supported by researchers and analysts.

The Schroders fund management is structured differently. A multi-asset team of around 45 people decide on the asset allocation strategy, while the securities selection of the underlying portfolio is managed by the firm’s China fixed income and equities team, Ng said.

Although the fund does not name a lead manager, it is collectively managed by the Schroders multi-asset team globally, with Patrick Brenner, Hong Kong-based head of multi-asset investment for Asia, having a huge role in managing the fund, according to a Schroders spokeswoman.

Although both teams are structured differently, Ng believes they are both well-resourced and he does not see any notable issues.

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