The FSA Spy market buzz – 19 April 2024
Doom and gloom on China, Peaks and troughs from First Sentier, Ninety-One looks at failure, Lombard Odier’s good news, Corporate jargon hell, Visit cheap Japan and much more.
HEAD-TO-HEAD: JP Morgan vs Jupiter
FSA compares two European equity growth funds: the JP Morgan Europe Dynamic (ex-UK) Fund and the JGF-Jupiter European Growth Fund.
Conclusion
Although many of the metrics suggest that the JGF-Jupiter fund is a superior product, Kandlur argues that each fund “has attractions that derive from their fundamentally different purposes”.
Darwall’s approach “should appeal to investors who are confident about taking a high-conviction, punchy view on a concentrated portfolio of large-cap growth stocks”, she said. But, they should also be prepared for an occasionally bumpy ride.
In contrast, the JP Morgan fund “gives investors core exposure to European equities,” said Kandlur. The firm also offers a Europe “dynamic fund” that includes UK equities, but the ex-UK product provides the most vanilla exposure to European value stocks.
“Growth investing has done well in recent years, but in an environment where economies are slowing, now might be a good time to choose a fund that focuses more on value,” she said.
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