The FSA Spy market buzz – 22 November 2024
Dimensional excludes the Middle Kingdom; JP Morgan’s optimistic outlook; Household wealth is rocketing; Schroders is thinking about privates; Ninety One’s pithy AI; German woes and much more.
HEAD-TO-HEAD: Fidelity vs JP Morgan
FSA compares the Fidelity Thailand Fund and the JP Morgan Thailand Fund.
Source: FE, in US dollars. The Fidelity fund takes the Bangkok SET Capped Index as benchmark while the JP Morgan fund uses the MSCI Thailand Index.
Performance
The JP Morgan Fund outperformed its benchmark MSCI Thailand Index and the Fidelity fund on a three-year and five-year basis.
Ng said the major contributor to the outperformance for the fund was the market rally between 2016 and 2017.
“The JP Morgan fund focuses on investing in stocks with higher growth potential. Therefore, the portfolio became a beneficiary during the growth momentum-driven market rally,” he said.
On the flipside, the Fidelity product has slightly underperformed its benchmark Bangkok SET Index.
Ng believes because of the neutral position to the index, the fund’s performance has consistently reflected the index movement and delivered a return that was close to the benchmark.
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