The FSA Spy market buzz – 13 December 2024
M&G’s positive outlook; Wisdom from Schroders’s podcast; Alliance Bernstein on the power of curiosity; Janus Henderson on responsible AI; China’s retirement revolution; Apple and much more.
HEAD-TO-HEAD: Fidelity versus Loomis Sayles
FSA compares two US equity products: the Fidelity America Fund and the Loomis Sayles US Growth Equity Fund.
Fees
Fund research firm Morningstar pays a lot of attention to management charges and expenses, and share classes that charge excessive fees are typically assigned lower ratings.
The ongoing charges fee (OCF) for the Hong Kong retail share class of the Fidelity fund is 1.89%, which is in its Morningstar category’s middle quintile. Morningstar thinks it is unlikely that the share class will be able to deliver positive alpha relative to the category benchmark index, explaining its analyst rating of neutral.
The OCF for the Loomis Sayles fund is lower at 1.75%, but still in its Morningstar category’s middle quintile. However, Morningstar believes that it will be able to deliver positive alpha relative to the category benchmark index, explaining its analyst rating of silver.
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