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: Franklin Templeton versus Legg Mason
FSA compares two global fixed income products: the Templeton Global Total Return Fund and the Legg Mason Wester Asset Global Multi Strategy Fund.
Fees
Annual fees charged by the 126 funds authorised for sale to Hong Kong and Singaporean retail investors that are categorised by FE Fundinfo as “fixed income – global” differ widely.
They range from as low as 0% to as high as 2.89%.
The retail class of the Templeton fund charges 1.39% per annum, while the Legg Mason fund has an expense fee of 1.35%.
Poole noted that both funds have relatively high fees.
“This is not unusual in Asia though – it is an industry wide issue rather than specific to these funds,” said Poole.
“The relatively high fees in this share class will increase the challenge for investors looking to gain alpha from investing in the asset class.”
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