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: Merian versus Schroders
FSA compares two UK equity products: the Merian UK Alpha Fund and the Schroder ISF UK Equity Fund.
Conclusion
Morningstar, whose criteria is based on historical risk-adjusted returns, has awarded the Merian fund three-stars.
Under its enhanced rating methodology, which places an emphasis on fees and benchmark-relative performance, the strategy also earns a Morningstar analyst rating of silver.
FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility and producing consistent returns, is less impressed and has awarded the fund one crown.
The firm rates the Schroder fund with the same one crown, but Morningstar has not assigned it a rating.
“Given Buxton’s experience, and the fact that he has managed to keep up better with the stock market over the period despite the style headwind, we would pick the Merian fund,” said Chelsea Financial Services’ McDermott.
“It has also simply outperformed the Schroder fund,” he said.
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