The FSA Spy market buzz – 6 June 2025
Animal spirits run wild; Franklin Templeton is taking credit; EM banking revolution; Not all luxury is equal; Death of search and the AI machine; George Soros on wins and much more.
HEAD-TO-HEAD: BNY Mellon vs JP Morgan
FSA compares two global equity income products: the BNY Mellon Global Equity Fund and the JPM Global Dividend Fund.
Fees
The ongoing charges figure for the retail share class of the BNY Mellon fund is 1.63%, cheaper than the 1.81% OCF of the JP Morgan product.
“The JP Morgan fund is quite expensive, in fact too high in my view and this is detracting from performance,” said McDermott.
Nevertheless, the median fee charged in the international equity fund category, comprising 135 actively-managed funds authorised for sale to Hong Kong and/or Singapore retail investors is 1.84%, so perhaps he is being a little harsh.
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