The FSA Spy market buzz – 1 November 2024
Battleshares’ old versus new, Goldman Sachs’ Cassandra warning, Hong Kong property’s negative equity woes, Ninety One’s trillion-dollar question, Contrarian alert from CB, Lists and much more.
Indian shares hit record highs this week, led by financials and energy stocks, as more countries lifted pandemic restrictions, while international investors seemed to shrug off recent high US inflation figures.
Meanwhile, daily cases of the new form of coronavirus in India stayed below 100,000 for four consecutive days, encouraging the southern Indian state of Karnataka, home to the tech hub Bengaluru, to say it would ease some pandemic curbs in a phased manner, reported Reuters.
So far this year, the MSCI India index is up 15.08%, out-stripping both the MSCI World index (12.86%) and the S&P 500 (13.61%), according to FE Fundinfo data.
Against this background, FSA asked Samuel Lo, analyst at Morningstar, to select two India equity products for comparison: the Fidelity India Focus Fund and the FSSA Indian Subcontinent Fund.
Fidelity |
FSSA |
|
Size |
$1.95bn |
$380m |
Inception |
2004 |
1999 |
Managers |
Amit Goel |
Vinay Agarwal, Sreevardhan Agarwal |
Three-year cumulative return |
36.00% |
21.69% |
Three-year annualised return |
10.22% |
6.13% |
Three-year annualised alpha |
2.87 |
0.21 |
Three-year annualised volatility |
22.05% |
18.43% |
Three-year information ratio |
0.61 |
-0.13 |
Morningstar star rating |
**** |
**** |
Morningstar analyst rating |
Neutral |
Gold |
FE Crown fund rating | *** |
** |
OCF (retail share class) |
1.94% |
1.91% |
Battleshares’ old versus new, Goldman Sachs’ Cassandra warning, Hong Kong property’s negative equity woes, Ninety One’s trillion-dollar question, Contrarian alert from CB, Lists and much more.
Part of the Mark Allen Group.