UK/SE. ASIA - UK fund managers have outperformed their peers in south-east Asia over the last five years, figures from ratings agency Standard & Poor's show.
The UK-based median managed fund restricted its loss to 18.3%, while funds run elsewhere dipped by 30% in sterling terms.
S&P said: “As a general conclusion it does appear that in difficult market conditions, locally-based fund managers tend to underperform their overseas rivals. In rising markets the reverse may be true.”
Only two of the 46 funds covered in the report achieved a triple-A rating – Fidelity Investments’ south-east Asia fund and First State Investments’ Asia Pacific fund.
A total of 20 funds achieved a double-A rating with 22 rated single-A.
S&P believes many managers are positioning portfolios for eventual global recovery.
South-east Asia equity team lead analyst Roy Booputh said: “The current outlook for the region is seen as more positive than a year ago.
“Regional managers believe that prospects for Asia in the event of a global recovery are as good as, if not better than, anywhere else.”
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