The FSA Spy market buzz – 22 September 2023
AllianceBernstein’s new large cap ETF, The SEC gets ‘investment term’ serious, small-cap managers outperform, Dumb Money is coming, Franklin Templeton’s divis, Pictet on building and much more.
HEAD-TO-HEAD: Axa vs Vanguard
FSA compares two US equity funds: the Axa World Funds Framlington American Growth Fund and the Vanguard S&P 500 ETF.
Manager review
The lead manager of the Axa fund, Steve Kelly, has two decades of experience in the US equity markets and has run the American growth fund since August 2009.
“The US equities team as a whole work in a collaborative environment whereby stock ideas are openly shared between the fund managers,” said McDermott.
“The Vanguard ETF simply seeks to track the performance of the benchmark index that measures the investment return of large-cap stocks, with minimal tracking error – which it consistently manages to achieve,” he added.
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