Asia Pac funds rally in November
After hitting rock bottom in October’s market correction, Asia Pacific ex Japan funds managed to rally their way back up to top quartile in November, according to data from FE Analytics.
The asset class took the biggest hit in October, dropping to bottom spot at -8.47 per cent for the month, but jumped to second-top with returns of 1.16 per cent in November.
The average of the sector was driven up by some quality performers: Mirae Asset Asia Great Consumer Equity with returns of 5.53 per cent for the month and CI Asian Tiger, with returns of 5.11 per cent.
Returns then dropped to 3.61 per cent for the third-top fund, Aberdeen Standard Asian Opportunities, followed up CFS Asian Growth with 3.44 per cent.
The Asia Pacific Single Country sector also rallied in the month, jumping from a low of -7.31 per cent in October to 1.08 per cent in November.
Emerging markets, which were in third quartile with returns of -5.73 per cent in October similarly rallied up to 0.51 per cent in November, driven by CFS’ Wholesale Global Emerging Markets Sustainability fund, with returns of 3.47 per cent, and CFS’ Global Emerging Markets Focus fund with 3.42 per cent.
Fidelity’s Global Emerging Markets fund rallied from -7.02 per cent the previous month to third place, with 2.31 per cent returns.
The chart below shows the performance of the equity sectors for October and November this year.
AUTHOR
Anastasia Santoreneos
Recommended for you
Bell Financial Group has appointed a chief investment officer who joins the firm from Clime Investment Management.
Private markets funds with “unattractive practices” could find themselves facing enforcement activity with ASIC chair Joe Longo stating he cannot rule it out in the future.
Despite ASIC concerns about private credit funds being accessed via the advised channel, there are questions regarding how high its usage actually is among financial advisers.
Challenger has looked to the superannuation industry for its appointment of a group chief investment officer, a newly-created role.
