behind every
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op newcomers ers –
1-year 1-yea
risk/return
Alpha Plus A Accc
Clerical Medical cal
Far Eastern Focus ocus o
s 1
2.5 2
Neptune Nept Asia Pacific Opp A
JF Asia Domestic Opportunities
2.75 3
Standard Sta S ndard de deviation (%)
To 23 Mar ’10. No
per performance er erfor for forman m ce ffigs for Cavendish or iShares
funds. Bid to bid, d, £, gr ggross oss inc, no
cap. Source: Morningstar
op 10 Asia Pacific ex Japan equity funds with less than a 3-year ye year track
record
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real story
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Fund Fun und u n Launch Domicile
volatility ty siz ssize iz e (($m) $m) date
89.03 89. 9. 9 03 0 28 Jan ’08 Luxembourg
14.69 14. 144.
4 69 12 Dec ’07 Ireland
48.6 48 48. 48
6 30 Nov ’07 UK
0.07 0. 0.0 .0 .07 19 Jan ’09 UK
207.46 207 07 0 .46 25 Mar ’08 Luxembourg
315.23 31 315 15 1 .23 19 Jan ’09 UK
15.13 15.
5 13 3 Dec ’07 UK
461.2 46 461 46 6 .2 14 May ’07 Hong Kong
A N/S
S 15 Jun ’09 UK
22.6 22 22. 22 22.
6 20 Apr ’09 Ireland
analysts and who had ad o obviously
proven themselves he hems ms msel el e ve v s
to be good enough noug ug ugh h to
In this instance, , th the
e fu fund
n
is co-managed by Ewan Ewa w n
urnbull say they ey rema remain ema ma main in
focused on the long-term opportunities in the larger, domestic mestic ic
economies of Asia, with significant overweight positions in Chin China, hina, ina
hompson points out that in the ’90s, emerging economies es
P growth, although over er
the course of the past decade this has risen to around a third.
und was launched in 2009, and is
t has a bias towards the shares of
medium and larger-sized companies, although is not restricted tri ri ricte ct cte ct d iin
in n
its choice of firm, either by size, market capitalisation or in indus industry. dus du d stry try r .
he fund has most of its money in technology, banks, basic sic ic
Our team of highly-experienced journalists will take the biggest issues of the day
– product launches, fund manager moves, macroeconomic developments,
industry news – and give you everything you need to know…
…detailed analysis of the issues, comment from the
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some of the most experienced investors in our industry.
pportunities is managed by
y
Kon Kong. ong ng ng. .
ay 2007 and has so far amassed ssed sed ed
www.portfolio-adviser.com
orea make up the largest country weights ght hts
ndian government’s recent cent t
budget was strong enough to push up selected consumerr- the difference between knowing and understanding
T TRowe T Rowe Price Asian ex Japan Eq A
AIG
Southeast So South ut ea Asia
Small Sm Sma Sm ll & Mid
Cap Y
Invesco Inv nv n esc Asia
Consumer Con Co CCo
Co
su Demand
Sector avg
Clerical Medical
Far Eastern 1
Thompson Th and Douglas
Turnbull. Tu The fund has had
a rather disappointing start,
sitting sit in the third quartile
over ov one year, but the
group gr has a strong performance-driven
fo
culture so
I would w expect some turnaround
ar in the short-term.
Schroder Asian Alpha
Plus Pl is Matthew Dobbs’
return re to managing open
ended-funds en for Schroder,
having ha managed Asian
investment in trusts for the
group gr for a number of
years. ye As with T Rowe
Price, Pr while the fund is
new, ne the manager has been
with w Schroders for over 20
years ye and certainly knows
the th ins and outs of the
Asian As stock markets.
We tend not to invest in
funds fu f without an established
lis track record but if
we w know the managers,
we w might well invest in
their th funds irrespective, or
else el we would keep them
in mind as a future investment
m opportunity.
[www.portfolio-adviser.com] portfol ol olio- io adv a MAY 2010
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