The FSA Spy market buzz – 31 March 2023
Retirement at Aviva Investors, inflation beneficiaries (maybe), Allianz Global Investors is going all in in China, BNP Paribas’ thematic outlook, UBS and Credit Suisse, Nasdaq performance and much more.
Both funds have been awarded four star ratings by Morningstar, which looks at historically risk-adjusted performance.
However, FE Fundinfo, whose rating methodology incorporates a fund’s alpha, volatility and consistency of performance, differentiates the two funds, awarding the JP Morgan fund three crowns and the BNY Mellon fund only two crowns.
But, McDermott is not swayed by FE Fundinfo’s preference.
“Given the recent change of manager and the lower cost, I would pick the BNY Mellon fund,” he said.
“I’ve known Nick Clay for a number of years, have confidence in his ability and, despite having a slight value tilt, the fund has held up especially well in an environment that has favoured growth,” he concluded.
Part of Mark Allen.