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: GAM vs JP Morgan
FSA compares two APAC including Japan funds — the GAM Star Asia Pacific Equity Fund and the JP Morgan Pacific Securities Fund.
The FE rating, which measures alpha, volatility and consistency of returns over three years, is two crowns for the GAM fund and four crowns for the JP Morgan fund.
Ng prefers the JP Morgan fund given its performance. It also captures the growing economy in Asia-Pacific more than the GAM fund given that it has an exposure to emerging markets.
“If you are interested in investing in economic growth in Asia-Pacific, the JP Morgan would be a better fund to capture that opportunity,” he said.
However, he noted that the GAM fund may be the better performer of the two if emerging markets fall into a period of underperformance – or if Japan reforms take hold and the economy surprises to the upside.
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