Posted inHead To Head

HEAD-TO-HEAD: Invesco versus Schroders

FSA compares the Invesco Greater China Equity Fund and the Schroder ISF Greater China Fund.
by Francis Nikolai Acosta

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Manager review

The manager of the Invesco fund is Mike Shiao, who has been managing the fund since 2008. He also manages other Greater China mandates, such as the Invesco China Focus Equity Fund and the Invesco Perpetual HK and China Funds, according to Share.

In 2016, Shiao was promoted to chief investment officer for Asia ex-Japan equities. However, Shiao’s promotion has made Morningstar cautious because of the added workload.

“We do have concerns with [Shiao’s] workload. As CIO, you have to ensure the quality of the research, and he has to manage the analysts as well as managing the portfolio, so we’re a little bit cautious of what that means in terms of how much time he spends on managing the Greater China portfolio.”

Shiao is supported by six portfolio managers and 16 sector analysts, according to Share, noting that the analysts also cover other markets in the Asia region.

Turning to the Schroders fund, its lead manager is Louisa Lo, who has been managing the fund since 2002. Lo is also the firm’s deputy head of Asia ex-Japan equities and head of Greater China equity investments, according to Share.

She is supported by 14 analysts, 11 of which are dedicated to the Greater China region, according to Share. “That is the competitive advantage of the Schroders fund, given that China is a very dynamic market.”

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