FSA has back tested the winners of the 2024 Singapore FSA award winning funds to see if they performed as predicted.
Every year at the FSA awards, we shortlist top-performing funds using data from FE Fundinfo, with criteria such as alpha, volatility and consistency of performance over three years.
Then judges from Asia’s fund selector community are asked to select one fund from 14 asset classes on the shortlist they believe will outperform peers (peer category average) in the next 12 months. Below are the results.
| FSA Award | Asset Class | Name | Return (%) | Peer Group Return (%) | Result |
| Platinum | Asia Pacific Equity | Fidelity Asian Smaller Companies A Acc | 7.64 | 12.72 | |
| Gold | Asia Pacific Equity | Nikko AM Shenton Emerging Enterprise Discovery | 20.68 | 12.72 | Outperformed |
| Platinum | Greater China/China Equity | Fidelity China Focus A | -6.18 | -10.19 | Outperformed |
| Gold | Greater China/China Equity | UOB United Greater China | 10.35 | -3.21 | Outperformed |
| Platinum | Global Emerging Market Equity | Fiera Capital Europe Magna New Frontiers N | 23.75 | 10.02 | Outperformed |
| Gold | Global Emerging Market Equity | HSBC GIF Frontier Markets EC | 28.09 | 10.02 | Outperformed |
| Platinum | European Equity | Carne Global Fund Managers (Luxembourg) S.A. Multiopportunities SICAV DIVAS Eurozone Value Focus | -2.48 | 9.46 | |
| Gold | European Equity | Alken Small Cap Europe A | 12.87 | 4.82 | Outperformed |
| Platinum | Sector Equity | Fidelity Global Industrials A | 15.59 | 4.46 | Outperformed |
| Gold | Sector Equity | Schroder Global Private Equity A | 10.34 | 4.46 | Outperformed |
| Platinum | Regional/Single Country Emerging Market Equity | Robeco Indian Equities D | 28.81 | 29.87 | |
| Gold | Regional/Single Country Emerging Market Equity | LionGlobal Vietnam Acc | 8.81 | 9.91 | |
| Platinum | Global Equity | Dodge & Cox Global Stock Acc | 13.88 | 12.65 | Outperformed |
| Gold | Global Equity | Lazard Global Equity Franchise BP Acc | -0.98 | 12.65 | |
| Platinum | Japanese Equity | Eastspring Inv Japan Dynamic A | 5.02 | 10.55 | |
| Gold | Japanese Equity | M&G (Lux) Japan A Acc | 10.55 | 10.55 | |
| Platinum | US Equity | Invesco US Value Equity A Acc | 16.34 | 19.4 | |
| Gold | US Equity | FTGF Royce US Small Cap Opportunity E Acc | 7.57 | 10.04 | |
| Platinum | Emerging Market Bond | Arkaim Advisors Emerging Markets Corporate High Yield Debt O3 Dis | 15.86 | 5.45 | Outperformed |
| Gold | Emerging Market Bond | Colchester Local Markets Real Return Bond Unhedged | -6.06 | 5.45 | |
| Platinum | Global Bond | T. Rowe Price Dynamic Credit A | 6.2 | 3.58 | Outperformed |
| Gold | Regional Bond | UTI Indian Fixed Income Retail Inc | 3.67 | 4.25 | |
| Platinum | High Yield | M&G (Lux) Global Floating Rate High Yield A Acc | 10.3 | 8.81 | Outperformed |
| Gold | High Yield | UBS (Lux)Bond SICAV – Floating Rate Income | 11.03 | 8.81 | Outperformed |
| Platinum | Mixed Asset | Partners Group The Partners SICAV R | 1.42 | 7.17 | |
| Gold | Mixed Asset | Thornburg Investment Income Builder A Unhedged | 16.57 | 10.61 | Outperformed |
Except for the regional equity, Japanese equity and US equity categories, either a Gold or Platinum award winning fund subsequently outperformed their peers over a 12-month period*.
Both the Gold and Platinum winning funds outperformed in China Equity, Global Emerging Market Equity, Sector Equity and High Yield categories.
Only one of either a Gold or Platinum fund outperformed in the Asia Pacific Equity, European Equity, Global Equity, Mixed Asset, Global Bond, and Emerging Market Bond categories.
When it comes to the Japanese equity, US equity and regional equity categories, both the Gold and Platinum fund picks underperformed the peer group over the period.
*Performance is in USD terms from 30/6/2023 to 30/6/2024. The Gold awarded fund in the Global Bond category First Sentier Credit Income has been closed. Platinum awarded fund in the Regional Bond category HSBC GIF Global Credit Floating Rate Fixed Term Bond 2023 – 2 was liquidated at the end of December 2023.
