The FSA Spy market buzz – 6 September 2024
Machine learning Chinese investment, BlackRock’s AI patience, Time Magazine’s AI cover, happier staff equal better returns, do wealth managers add value? sexy legs and much more.
There is a wide divergence in the performance of the two products since the launch of the Haitong fund on 20 May 2016.
Fidelity has earned a 14.19% cumulative return, much higher than the -1.03% return by Haitong and significantly outperforming the Asia Pacific sector average of funds available to Hong Kong and Singapore retail investors.
Fidelity has also done better over a one-year period, posting a positive return of 0.11% versus -0.02% for the sector and -3.08% by Haitong. However, the latter’s focus on China property bonds has, so far, paid off this year. Haitong is up 6.68% during the last three months, outstripping the 4.6% return by Fidelity.
In contrast to their often divergent returns, the two funds share a propensity to take risk.
“Both funds experience above average volatility,” said Ng.
Asia fixed income annualised volatility since 2016 ranges from 2.7% to 3%, which is lower than Haitong’s 4.59% and Fidelity’s 3.54% volatility.
Discrete annual performance %
Fund / Sector / Index |
2018 |
2017 |
2016 |
2015 |
2014 |
Fidelity |
-4.67 |
6.95 |
13.56 |
1.47 |
3.49 |
Haitong |
-6.78 |
0.22 |
– |
– |
– |
Sector |
-3.07 |
6.74 |
3.32 |
-1.82 |
2.59 |
Machine learning Chinese investment, BlackRock’s AI patience, Time Magazine’s AI cover, happier staff equal better returns, do wealth managers add value? sexy legs and much more.
Part of the Mark Allen Group.