Citywire Global uncovers the managers making waves for funds registered in Bahrain, Hong Kong, Singapore and Taiwan.
This month 272 managers have been awarded with a rating for posting strong three year risk-adjusted performance required for a rating across the Asian markets of Bahrain, Hong Kong, Singapore and Taiwan. This ratings line-up is composed of 102 AAA, 129AA and 358 A ratings.
Highest New Entry: Dan Norman and Jeff Bakalar, ING
AA rated in Singapore
ING’s senior loan portfolios veterans Dan Norman and Jeff Bakalar make their debuts in Singapore with an AA rating. Both Norman and Bakalar have more than 25 years of investment experience and co-run the ING (L) Flex Senior Loans I CAP EUR fund.
According to the most recent factsheet, media companies Virgin Media and Univision Communications, as well as online payment processing firm, First Data Corporation make-up the top holdings in the portfolio.
Meanwhile, senior loans, those with a B+ rating, account for more than 70% of the total investments. This is made up 20.95% in BB-, 32.97% in B+ and B accounting for 19.82%.
Over the three years end of February, the fund has beaten its Citywire benchmark, Markit iBoxx Euro Corporates 1-3 Year TR, by 6.27 percentage points in Singapore Dollar terms.
Comeback Star: David Gait, First State
AAA rated in Taiwan
Emerging market expert David Gait of First State has regained the coveted AAA rating in Taiwan this month due to his improved risk-adjusted performance on theFirst State Indian Subcontinent I fund.
Focusing on opportunities in emerging Asian countries, such as India, Pakistan and Sri Lanka, Gait has returned 21.23% in Taiwan dollar terms over the three years to the end of February 2013. In comparison, its benchmark, the MSCI India TR, dropped 10.22% over the same time frame.
On a sector basis, Gait is heavily invested in the consumer staples (20.2%) and IT (18.6%). A t a stock level, Gait’s top holding are in Marico (7.8%), which is a leading consumer products and services company in India, and Satyam Computer Services (6.8%), an information, communications and technology firm.
Rising Star: Alberto Chiandetti, Fidelity
AAA rated in Hong Kong
His Italian mandate has posted returns of 2.1% over the last three years in HKD terms, which has outperformed its Citywire benchmark, MSCI Italy TR EUR which has dropped by 16.59% during the same time frame.
According to the most recent factsheet, banks UniCredit (10.22%) and Intesa Sanpaolo (8.58%) and cables manufacturer Prysmian (5.81) are currently Chiandetti’s top three holdings. His major sector exposure is to financials, which made up 37.28% of the portfolio, while industrials accounts for 15.36%.
In the group standing, JP Morgan has overtaken Fidelity and assumed top spot this month with 17 rated managers. Fidelity has 16 rated managers, while in third is BlackRock with 14 rated managers.
We are now tracking 1,992 fund managers running 2,655 funds, of which 1,356 have the necessary performance history required to be eligible for a rating in Asia.