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: Franklin Templeton versus Neuberger Berman
FSA compares two US equity products: the Franklin US Opportunities Fund and the Neuberger Berman US Multi Cap Opportunities 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 Franklin fund is 1.82%, which is higher than the median of 1.60% for the sector, and ranks in the Morningstar category’s second-costliest quintile. As a result, the research firm assigns the fund a neutral analyst rating.
The OCF for the NB fund is higher, at 2.01%, but Morningstar thinks that it will be able to deliver positive alpha relative to the category benchmark index, explaining its analyst rating of bronze.
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