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 vs First State
FSA compares the Blackrock GF Asian Dragon Fund and the First State Asian Growth Fund.
Conclusion
The Blackrock fund has a three-star Morningstar rating and an analyst rating of Bronze. The First State fund carries four-stars and a Silver.
Morningstar’s star rating looks at historical risk-adjusted performance and the analyst rating is based on forward-looking analysis.
While Daniels would not comment on whether he prefers one fund over the other, he pointed out that investors should evaluate their risk appetite when choosing between the two. As mentioned earlier, the Blackrock fund is the more volatile of the two.
Daniels said he has strong conviction for the First State fund given the consistency of approach and lower fees. He said it can serve as a core portfolio for Asia-based investors.
That said, investors should not overlook the proven investment ability and extensive experience of lead manager for the Blackrock fund, according to Daniels. But he noted the fund allocation tends to move a lot over time. It is therefore recommended to investors with higher risk tolerance.
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