The FSA Spy market buzz – 28 March 2025
JP Morgan Asset Management gets enhanced; Thailand wants some leverage; Natxis is surveying the world; A billionaire here, another there; Business social media lunacy; Andrew Carnegie’s wisdom and more.
Companies cut dividends last year as pandemic-lockdown measures put pressure on profits. Investors’ struggle to find income in an already low interest rate environment was exacerbated as a result.
However, the most recent Janus Henderson Global Dividend index, a widely followed metric, showed signs of improvement in the first quarter of 2021, with the pace of dividend reductions declining.
Indeed, companies in some sectors have become more generous, such as commodities, banking and utilities, and evidence of increasing pay outs was found in North America, Europe and in several emerging markets.
Meanwhile, the much-vaunted rotation out of growth counters into value stocks should provide capital stability – and even upside – for income funds which typically source dividends from value and cyclical sectors.
Against this background, FSA asked Patrick Ge, analyst at Morningstar to select two environmental themed equity products for comparison: the JP Morgan Multi Income Fund and the Schroder Asian Asset Income Fund.
JP Morgan |
Schroders |
|
Size |
$4.76bn |
$3.93bn |
Inception |
2011 |
2011 |
Managers |
Michael Schoenhaut, Leon Goldfeld, Eric Bernbaum |
Multi-Asset team |
Three-year cumulative return |
22.82% |
16.44% |
Three-year annualised return |
6.91% |
4.95% |
Three-year annualised alpha |
1.65 |
-0.80 |
Three-year annualised volatility |
10.96% |
10.85% |
Three-year information ratio |
0.26 |
-0.47 |
Morningstar star rating |
*** |
** |
Morningstar analyst rating |
Neutral |
Neutral |
FE Crown fund rating |
** |
* |
OCF (retail share class) |
1.31% |
1.56% |
JP Morgan Asset Management gets enhanced; Thailand wants some leverage; Natxis is surveying the world; A billionaire here, another there; Business social media lunacy; Andrew Carnegie’s wisdom and more.
Part of the Mark Allen Group.