CFSGAM launches Asian growth strategy in Australia
Colonial First State Global Asset Management (CFSGAM) has announced its Asian growth strategy fund, which launched in Asia in 1999, will now be accessible to Australian investors.
The firm said the fund, the Colonial First State Wholesale Asian Growth Fund, would be the first Australian unit trust managed by their First State Stewart Asia investment team.
The fund aimed to achieve long-term capital growth that exceeded the MSCI AC Asian ex-Japan index over a rolling five-year period, and invested in established companies that operated mainly in the Asian region (excluding Japan).
It held 30 to 60 holdings and was accessible to Australian investors from March 2016.
According to their website in Asia, the First State Asian Growth Fund yielded five per cent per annum over five-year periods (excluding initial charges), and 7.3 per cent over 10-year periods. Meanwhile, the index yielded 1.5 per cent and 4.2 per cent over five and 10 year periods respectively.
First State Stewart Asia managing partner, Michael Stapleton, said: "There are relatively few investment products in Australia that invest specially in Asia, ex-Japan. We believe there is growing demand for strategies that can tap into the long-term growth trends in the region".
He said the Asian growth strategy fund was a high-conviction portfolio, made up of quality companies that operated in Asia, and despite the macro-economic challenges, would prosper.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
