The FSA Spy market buzz – 3 May 2024
Catholic principles investment, Brown Advisory and ESG, Robotics and automation fun, China’s little bounce, Frontier investing excitement, Zero downside in wonderland, Bambu’s demise and much more.
The Alquity fund has returned only 7.09% on a three-year cumulative basis, hugely underperforming its peers, according to data from FE Fundinfo (see above).
On the flipside, the T Rowe Price fund performed 46.33% over the same period, outperforming both its benchmark index and peer average.
2018 was a huge detractor for the Alquity fund, when the fund fell around 17%, according to McDermott. While the T Rowe Price fund also posted negative returns during the same year (-11%), the fund bounced back sharply in the succeeding years.
“The Alquity Fund tends to underperform when large China tech companies dominate, and outperform when domestically-orientated stocks are doing well.
“Meanwhile, the T Rowe Price fund’s focus on quality may cause it to underperform in the short-term in a strongly rising market, but it has tended to outperform on the downside, which is key in a more volatile market such as Asia,” McDermott said.
Discreet annual calendar performance (%)
Fund / index / sector | YTD 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
T Rowe Price | 5.73 | 15.49 | 10.37 | -17.09 | 26.64 | -4.59 |
Alquity | 5.07 | 26.78 | 23.72 | -11.39 | 42.79 | 2.38 |
MSCI AC Asia ex Japan Index | 5.22 | 25.36 | 18.52 | -14.12 | 42.08 | 5.76 |
Sector – Asia Pacific ex Japan | 5.87 | 21.83 | 18.21 | -16.05 | 35.01 | 2.3 |
Three-year annualised volatility
Fund / index / sector | Volatility |
T Rowe Price | 18.54 |
Alquity | 19.32 |
MSCI AC Asia ex Japan Index | 19.23 |
Sector – Asia Pacific ex Japan | 18.25 |
Catholic principles investment, Brown Advisory and ESG, Robotics and automation fun, China’s little bounce, Frontier investing excitement, Zero downside in wonderland, Bambu’s demise and much more.
Part of the Mark Allen Group.