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: Investec versus JP Morgan
FSA compares two global mixed asset products: the Investec Global Multi Asset Income Fund and the JP Morgan Multi Income Fund.
Conclusion
FE Analytics has given the Investec fund a two-crown rating, while the JP Morgan fund receives four crowns.
The crown-rating methodology assesses the fund’s alpha, volatility and consistency of performance.
Ng explained that the JP Morgan fund has a higher crown rating because the crown-rating methodology is based on a three-year historical period. The JP Morgan product is also one of the multi-asset products that FE Advisory recommends to its clients.
However, he noted that the higher crown rating does not mean investors should exclude consideration of the Investec fund.
“The Investec fund is more controlling in terms of volatility, which is really good for defensive investors who want to play it safe, but would still want to have an income stream,” he said.
On the other hand, the JP Morgan may be more suitable for investors who can take more risk, given that it tends to participate during market rallies.
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