Posted inHead To Head, News, Research

HEAD-TO-HEAD: HSBC Jintrust vs Invesco Great Wall

FSA compares two MRF-approved China mixed-assets funds: the HSBC Jintrust Dynamic Strategy Fund and the Invesco Great Wall Core Competence Mixed Securities Fund.
by Fund Selector Asia
Manager review

123456

The HSBC Jintrust team, led by Min Guo, has 12 analysts with an average three years of investment experience. However, they are less seasoned than the IGW team, Li said.

Investment decisions are made on a more collegiate basis than IGW. “The investment committee has influence on the portfolio manager’s decisions such as asset allocation, stock selection and investment style,” Li said.

Guo has background in macroeconomic research, which is reflected in the fund’s overall strategy.

Guang Yu, manager of the IGW fund, is more skilled than the HSBC Jintrust manager at bottom-up stock selection, said Li.

Yu is supported by a team of 13 analysts with an average six years of experience, but the decision-making is concentrated in his hands, according to Li.

His skill is exemplified in the holding of Guangdong-based Sophia Furniture, which has been in the fund’s portfolio for four years. “It has performed very well,” Li said. “It’s a very good example of the manager’s ability to identify a very good stock at an early stage.”

While both funds are managed by joint ventures of mainland and foreign fund management firms, the influence of the foreign partner differs between them.

“For the IGW fund, the foreign partner does not have much influence,” Li said. “On the other hand, HSBC Jintrust has adopted a lot of investment framework and philosophy from the HSBC global group.”

123456

Related Stories

FSA SPY

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.

Part of the Mark Allen Group.