The FSA Spy market buzz – 22 September 2023
AllianceBernstein’s new large cap ETF, The SEC gets ‘investment term’ serious, small-cap managers outperform, Dumb Money is coming, Franklin Templeton’s divis, Pictet on building and much more.
The Schroders fund has performed consistently better against its benchmark than the Hamon fund, according to Ng.
Fund / benchmark |
YTD 2018 |
2017 | 2016 | 2015 | 2014 | 2013 |
2012 |
Hamon Asian Market Leaders Fund |
-25.76 |
33.24 | -3.20 | -5.70 | 0.58 | -2.80 |
20.23 |
MSCI AC Far East ex Japan Index |
-13.34 |
42.56 | 6.57 | -9.22 | 3.49 | 4.05 |
22.39 |
Schroder ISF Asian Opportunities Fund |
-13.89 |
51.02 | 5.82 | -4.30 | 6.28 | 0.98 |
25.95 |
MSCI AC Asia ex Japan Index |
-13.13 |
42.08 | 5.76 | -8.90 | 5.11 | 3.33 |
22.70 |
“The Schroders fund has consistently outperformed the Hamon fund, either in a rising or falling market,” he said.
Ng said he believes the reason for this is Schroders’ Asia ex-Japan equities team, which has around 15 portfolio managers and 30 analysts. On the other hand, the Hamon fund relies on the support of around four people, including the firm’s CEO. Yet these same people are also in charge of other mandates, he said.
In terms of volatility, the Hamon fund is the most volatile, according to FE data.
Three-year annualised volatility
Fund / Index |
Volatility |
Hamon Asian Market Leaders Fund |
19.09 |
MSCI Daily TR AC Far East ex-Japan |
16.29 |
Schroder ISF Asian Opportunities Fund |
15.94 |
MSCI AC Asia ex-Japan |
15.84 |
AllianceBernstein’s new large cap ETF, The SEC gets ‘investment term’ serious, small-cap managers outperform, Dumb Money is coming, Franklin Templeton’s divis, Pictet on building and much more.
Part of the Mark Allen Group.