The FSA Spy market buzz – 22 November 2024
Dimensional excludes the Middle Kingdom; JP Morgan’s optimistic outlook; Household wealth is rocketing; Schroders is thinking about privates; Ninety One’s pithy AI; German woes and much more.
HEAD-TO-HEAD: Neuberger Berman vs Allianz
This week’s Head-to-Head examines two China equity vehicles: Neuberger Berman China Equity and Allianz Greater China Dynamic.
Underperforming against benchmark has been a constant theme throughout Allianz Greater China Dynamic’s existence, while a few particularly strenuous periods between October 2009 and November 2012 saw it occasionally dip below its sector average.
Neuberger Berman China Equity, on the other hand, has been a model of consistency, not once dropping below either its peers or benchmark.
“The recent rollercoaster experience of Shanghai A Index is a good indication of fund positioning,” said Husselbee.
“Over the last three months Neuberger Berman China Equity has performed the best on a relative basis against their chosen benchmark. Their value-orientated, bottom-up investment approach has outperformed, whilst Allianz Greater China Dynamic has really struggled.”
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