IN FOCUS
Fund
BLACKROCK GF
ASIAN GROWTH
LEADERS
Andrew Swan’s $860m fund could be ideally placed
to catch a rebound in emerging Asia
80%
BlackRock GF Asian Growth Leaders (59.50%)
MSCI AC Asia ex Japan (19.67%)
70%
60%
50%
40%
30%
20%
10%
0%
Feb 16
Nov
Aug
May
Feb 15
Nov
Aug
May
Feb 14
Nov
Aug
-10%
May
MANAGER: Andrew Swan
FUND SIZE: $860m
LAUNCHED: 31/10/2012
OCF: 1.11%
PERFORMANCE OF FUND VS INDEX SINCE LAUNCH
Feb 13
FILE
intact. Therefore, the current low
valuations represent an attractive
entry point.
Tom Becket, chief investment
officer at Psigma, holds this view.
He says that although it is hard to
predict when sentiment will improve,
investors should look to valueorientated Asian funds as these are
exposed to some of the region’s most
bombed out stocks, which should
benefit the most from a rebound.
“Quality companies are the most
expensive they have been relative
Nov 12
A
sian equities have fallen
hugely out of favour recently
– and for good reason. The
region has been hit by numerous
headwinds over recent years,
most prominently China’s growth
slowdown, the devaluation of its
currency and the bursting of a
domestic stock market bubble.
Throw in concerns about how
tighter US monetary policy may
affect economies with high levels of
dollar-denominated debt and it is
little surprise the MSCI Asia Pacific
ex Japan index has fallen some 11
per cent over 12 months.
Many analysts warn investors to
expect further losses, given many
of the causes of the recent volatility
haven’t dissipated.
However, others argue that the
long-term case for investing in Asia
and emerging markets – a young and
growing population combined with
higher levels of economic growth
than in the developed world – remain
to cyclical value ones in the recent
past,” Becket said.
“The outlook is challenging for
Asian equities, as China attempts
to rebalance, but those fears have
been overdone in some valuations of
cyclical