How do these Silver-rated funds compare?

SINGAPORE (Sept 19): In the Sept 5 Personal Wealth section, we flagged promising Asia Ex-Japan equity funds available locally. Worth comparing side-by-side are the $71 million First State Asian Growth feeder fund (First State feeder) and $653 million Schroder Asian Growth fund. They are both approved under the CPF Investment Scheme, operate in the same investment category and are benchmarked against the MSCI AC Asia Ex-Japan Equity index.

In an August 17 initiation report, Morningstar accords the First State feeder fund a coveted Silver rating, which was highlighted by us. “First State Asian Growth is a strong all-rounder giving investors plenty food for thought”, says senior Morningstar analyst Mark Laidlaw. The First State feeder fund invests most of its assets in the underlying $795 million Dublin-domiciled First State Asian Growth fund, which is led by Richard Jones but not available in Singapore. Jones also co-manages the widely-held $1.9 billion First State Dividend Advantage Asia Pacific ex-Japan equity fund alongside Martin Lau.

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