The FSA Spy market buzz – 16 May 2025
Playing monopoly with ETFs; Eastspring is worrying about loss aversion; Family office explosion; SGX wants more action; The Fear and Greed Index; Retail investors plough on; Deepfake fraud and much more.
Ng has no doubts about which fund he prefers.
“Fidelity is better diversified, less volatile and achieves superior returns. Perhaps, most importantly, the fund is what it says on the tin: an Asian high yield fund,” he said.
The fund is also extremely well supported by analysts and other staff. Its $4bn size – it is now soft-closed – might cause some liquidity concerns because the Asian high yield bond market is small and many issues tend to be locked away until maturity.
On the other hand, its size means it is in a powerful bargaining position in the primary market. Lead managers of new issues will usually need to ensure pricing is satisfactory to Collins and his team, and that the fund will receive its allocation of bonds.
The Haitong fund might be a suitable consideration for investors with an especially bullish view on the China property sector. However, “there are other funds explicitly dedicated to that sector which might be a better option,” Ng said.
Playing monopoly with ETFs; Eastspring is worrying about loss aversion; Family office explosion; SGX wants more action; The Fear and Greed Index; Retail investors plough on; Deepfake fraud and much more.
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