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: Blackrock versus First State
FSA compares two Asian fixed income funds: the Blackrock GF Asian Tiger Bond Fund and the First State Asian Bond Fund.
Conclusion
FE Analytics has given both funds a rating of two crowns.
This methodology assesses a fund’s alpha, volatility and consistency of performance.
Ng did not say which fund he prefers, but said that the Blackrock fund is one of the recommended funds at FE Advisory.
“One reason is the Blackrock team is one of the strongest in fixed income,” he said, noting that it has dedicated analysts covering Asia bonds versus First State’s team that combines Asia in emerging markets.
In addition, the Blackrock fund is larger than the First State fund.
“If you manage more assets, it is easier to get new issuance and have more bargaining power.”
That said, Ng believes the First State fund has a place in investor portfolios.
“The First State fund has more focus on China, so if you prefer a larger exposure in the market, then this product is more appealing,” he added.
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