HEAD-TO-HEAD: JP Morgan AM versus UBS AM

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Manager review

The JP Morgan fund’s lead manager is Howard Wang, who took over the fund from Song Shen in 2016, according to Liang. Wang, who has 24 years of investment experience, is also the firm’s head of Greater China and manages other mandates, including the JP Morgan Greater China Fund and other China A-share strategies.

Co-manager Rebecca Jiang joined Wang in 2017. They are supported by a 14-member Greater China analyst team.

“The biggest advantage of the fund is the team, as it is one of the largest Greater China teams in the region,” Liang said.

Liang does not have any concerns over Wang given his experience. However, she noted that Morningstar was initially concerned whether he had adequate familiarity with the A-share market given that he specialises in offshore China equities.

“But over the years, we have seen that he has been doing a good job with his coverage of the A-share market,” she said.

Turning to the UBS fund, lead portfolio manager Bin Shi has been managing the fund since 2010. In total, he has 25 years of investment experience, 13 of which with UBS, according to Liang.

“He is a very savvy and experienced investor. He has the skills to identify the long-term winners in the industry and has produced impressive track records in the China equity mandates he manages,” she said.

Two other managers support Shi in the strategy, which include Denise Cheung, who became co-manager in 2018, and Morris Wu, who became co-manager last year.

The managers are supported by seven analysts covering China equities.

“While it is not the largest China equity team in the region, we think that it offers sufficient support for the strategy,” Liang said.

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