Active funds dominate EM sector
While the emerging markets sector was one of the worst performing of 2019, it was the active funds that dominated at the top.
According to FE Analytics, within the Australian Core Strategies universe, the emerging market equity sector returned 16.24% over the year to 29 November, 2019.
The top performing funds were Fidelity Global Emerging Markets (30.12%), GQG Partners Emerging Markets Equity (24.74%), Macquarie Walter Scott Emerging Markets (23.59%) and Legg Mason Martin Currie Emerging Markets (23.3%) and CFS Global Emerging Markets Focus A (22.17%).
The best performing exchange traded fund (ETF) in the sector was State Street Global Advisers SPDR S&P Emerging Markets, which returned 17.88%.
Fidelity’s top holdings were Taiwan Semiconductor Manufacturing (5.22%), Bank Central Asia (5.06%), AIA (4.91%), HDFC Bank (4.2%) and Samsung (3.4%), 30 November, 2019.
Their region weightings were Pacific Basin (55.23%), Americas (11.65%), Asia Pacific (10.83%), Europe excluding UK (9.09%), South Africa (5.47) and North America (2.81%).
GQG’s top holdings were Housing Development Finance Corp (5.89%), Alibaba (4.98%), HDFC Bank (4.94%), Bank Central Asia (4.92%) and Infosys (4.82%).
Their region weightings were Pacific Basin (54.65%), Asia Pacific (24.57%), Europe excluding UK (9.44%), Americas (5.67%), North America (3.52%) and UK (1.94%).
Macquarie’s top holdings were Tencent (4.08%), Taiwan Semiconductor Manufacturing (4.01%), AIA (3.03%), Silergy Corp (2.59%) and Naver Corp (2.53%).
Their region weightings were Asia/Pacific Basin (65.75%), Americas (20.33%), Europe (6.21%) and Africa/Middle East (4.25%)
Legg Mason Martin Currie’s top holdings were Taiwan Semiconductor Manufacturing (8.25%), Samsung (7.9%), Alibaba (7.3%), Tencent (6.21%) and Ping An Insurance (3.08%)
Their region weightings were Asia (42.73%), North America (23.56%), Pacific Basin (16.56%), Europe (6.09%), Americas (3.83%), Middle East/Africa (2.59%) and UK (1.17%).
Best performing emerging market equity funds over the year to 29 November 2019
AUTHOR
Chris Dastoor
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