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.
Performance
The Morgan Stanley fund has earned a higher three-year cumulative return than the Threadneedle fund, and it outperformed significantly in 2017 and 2015.
“However, the strong alpha-generated returns in those bull market years, are at the expense of greater volatility which means the fund can suffer during bear markets,” said Meatyard.
Indeed, last year it significantly underperformed Threadneedle “as investors backed away from technology stocks in the second half of the year. Until then, its overweight position in the sector had benefited the fund”, she said.
In contrast, “Threadneedle’s performance had been steady throughout the year, without major fluctuations,” she added.
Discrete annual performance
Fund / Sector / Index |
2018 |
2017 |
2016 |
2015 |
2014 |
Morgan Stanley |
-7.36 |
48.44 |
-0.56 |
18.62 |
7.40 |
Threadneedle |
-2.03 |
30.50 |
-1.15 |
1.39 |
6.24 |
Sector |
-11.83 |
22.20 |
3.96 |
-2.73 |
2.78 |
MSCI AC World Index |
-9.42 |
23.97 |
7.86 |
-2.36 |
4.16 |
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.
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