Best Fund Provider Emerging Market Equity
J.P. Morgan Asset Management
Best Fund Provider – Emerging Market Equity
Richard Titherington
managing director, CIO of Emerging Markets and Asia Pacific (EMAP) Equities, J.P. Morgan Asset Management
“J.P. Morgan Asset Management’s Emerging Market Equities team is honoured to be presented this award. We believe this is a true testament to the contributions of our wider team and research platform. We would also like to thank our private bank and wealth partners in contributing to our success and recognition.
We seek to outperform by investing in high-quality businesses that can compound strong earnings over long periods. This effort is supported by in-depth fundamental research, and our valuation framework helps to ensure we pay an appropriate price for the opportunity. Emerging markets are inherently inefficient, with higher volatility relative to developed markets. Our investment approach is based on taking a longer time frame than the average investor, capitalising on these fundamental characteristics over three-to-five years.
The EMAP Equities team’s comprehensive research and local knowledge is the product of nearly 100 dedicated portfolio managers and analysts who are based in eight locations around the globe, speaking more than 20 languages. These investors conducted over 5,000 company meetings in 2017, with the analysts currently conducting research on more than 1,000 GEM equities, with coverage further expanding to include the growing opportunities in China A-shares and frontier markets. The breadth of this coverage enables our team to exploit the full universe of EM companies, rather than simply the most widely held, large-cap names.”
Winners rationale
Although emerging market corporate fundamentals remained solid and earnings growth momentum was sound throughout 2018, macroeconomic headwinds — including fears over financial turmoil in Argentina and Turkey, trade tensions, and a stronger US dollar — resulted in a challenging year and indiscriminate sell-offs in February and October, reminding investors that selectivity is key in relatively inefficient markets.
Offering the region’s wealthy some refuge from volatility, J.P. Morgan Asset Management’s Emerging Markets and Asia Pacific Equities team has developed an array of emerging market strategies, including Global Emerging Markets (GEM) Focused, GEM Opportunities, GEM Income, and GEM Small Cap.
Notably, one of its flagship EM equity products, the JPMorgan Funds – Emerging Markets Dividend Fund, outshone its peers, achieving first-quartile performance over one-month, three-month, six-month, year-to-date, and one-year periods, as of end-September 2018. The fund’s low-beta, quality-biased approach gives it less exposure to the downside and fair participation in the upside of gradually rising rates in emerging markets, resulting in consistent and relatively competitive yield.
The region’s private banking gatekeepers also highlighted J.P. Morgan Asset Management’s EM Opportunities Fund, which recorded first-quartile returns over one-month, six-month, one-year, two-year, three-year, five-year, and ten-year periods, as of 30 September 2018. The fund’s strong outperformance is due to a hybrid strategy that combines top-down asset allocation with a bottom-up fundamental approach to identify high conviction stock ideas.
J.P. Morgan Asset Management’s strong performance and, accordingly, stellar reputation in the emerging markets equities space have earned it the title of Asian Private Banker’s Best Fund Provider – Emerging Market Equity.
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