After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
Equity funds posted a 1.18% average return while mixed-asset funds gained 0.78% on average. The low-risk-profile portfolios such as protected funds, bond funds, and money market funds notched up 0.02%, 0.20%, and 0.18%, respectively. Commodity funds still outperformed and beat soaring inflation, posting an average return of 1.19% in May, 25.72% for the first five months of 2008 and 57% for the past 12 months.
Equity Thailand funds posted an average return of 0.84%, still better than the benchmark Stock Exchange IndexÆs 0.35% gain. Equity funds that invest oversees sharply outperformed, especially those that invest in emerging markets Europe (+11.22%), Japan (+8.09%), and global emerging markets (+5.29%). Equity funds that invest in China and Far East emerging markets were laggards, posting average losses of 7.90% and 6.38%, respectively.
The best performing equity funds last month were the Manulife Strength-Emerging Eastern Europe FIF and Asset Plus Nippon Growth portfolios, which posted gains of 11.22% and 8.09%, respectively. At the bottom of LipperÆs performance chart is TMB China Equity Index, which posted a loss of 7.90%.
In ThailandÆs bond market, Thanachart Fixed Income FIF 2 and Tisco Australia Bond were the outperformers, with returns of 6.13% and 4.68%, respectively, following an unexpected gain from baht depreciation. The worst performing bond fund was Bualuang Thanasarn Plus 19/08, with a loss of 1.74%.
ôThe investment outlook remains bumpy from the inflationary threat, which has been apparent for a number of months and which could worsen unless world crude oil prices stop rising,ö says Suthee Luangaramkul, a Bangkok-based research analyst at Lipper.
Average performance of fund groups registered for sale in Thailand in May:
Mixed Assets +0.78%
Money Market +0.18%
New Zealand has sufficiently satisfied US national security regulations to be granted temporary exemption from restrictions on investing in sensitive sectors.
The sovereign wealth fund is exploring a new investment model as it manoeuvres a post-Covid world, an uncertain interest rate environment, and higher-priced assets.
Following a dismal 2021 performance, Chinese equities have rallied so far this year, as investors begin moving into sectors that were previously untouchable due to an uncertain regulatory outlook.
The appetite of institutional investors for green, social, and sustainable bonds that bring clear environmental and socio-economic benefits shows no sign of waning.