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HEAD-TO-HEAD: China Universal Value Selected versus E Fund Kexiang
FSA compares two China equity products: the China Universal Value Selected Fund and the E Fund Kexiang Fund.
Fees
China actively managed equity-heavy funds (those with more than 70% assets in equities) do not have much fee differentiation, according to Morningstar. Both funds reviewed charge a management fee of 1.5% per annum and a custodian fee of 0.25%, which is in line with the standard fee structure and level for most China-domiciled, actively managed equity-heavy funds.
The total expense ratio of China Universal Value Selected in 2020 was 1.75%, which was slighter cheaper than E Fund Kexiang’s 1.76%. “From a peer relative perspective, both products are competitive in terms of price, which sits on the fourth quartile among their aggressive allocation large-cap growth peers,” said Qu.
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