The FSA Spy market buzz – 6 September 2024
Machine learning Chinese investment, BlackRock’s AI patience, Time Magazine’s AI cover, happier staff equal better returns, do wealth managers add value? sexy legs and much more.
Technology continues to be a trending theme in Asia, with several fund managers launching new tech-related products this year.
Capital Group, for example, launched the New Economy Fund to retail investors in Hong Kong and Singapore recently. The product invests in companies that can benefit from innovation or exploit new technologies.
Amundi also introduced five themed funds in Hong Kong and Singapore this year, one of which is the Global Disruptive Opportunities Fund, which may include sectors in technology, telecommunications and fintech.
Other managers have also launched products that invest in the sub-sectors of technology. Just this week, Taipei-based Yuanta Securities launched a 5G ETF, which raised $300m during its IPO.
Indeed, the technology sector has continued to perform strongly, with the MSCI ACWI/Information Technology Index returning 38.8% this year, which compares to the MSCI AC World Index, which is up 22%, according to data from FE Fundinfo.
Against this backdrop, FSA asked Darius McDermott, managing director at Chelsea Financial Services and Fund Calibre, to compare two technology products: the JP Morgan US Technology Fund and the T Rowe Price Global Technology Equity Fund.
JP Morgan |
T Rowe Price |
|
Size |
$1.47bn |
$882m |
Inception |
1997 |
2015 |
Manager |
Joseph Wilson, Timothy Parton |
Alan Tu |
Three-year cumulative return* |
102.61% |
60.81% |
Three-year annualised return** |
25.74% |
16.39% |
Three-year annualised alpha** |
4.83 |
-1.57 |
Three-year annualised volatility** |
19.92 |
18.17 |
Morningstar analyst rating |
***** |
Neutral |
Morningstar star rating |
Bronze |
** |
FE Crown fund rating |
***** |
* |
OCF (retail share class) |
1.78% |
1.86% |
Machine learning Chinese investment, BlackRock’s AI patience, Time Magazine’s AI cover, happier staff equal better returns, do wealth managers add value? sexy legs and much more.
Part of the Mark Allen Group.