Offshore funds run by Franklin Templeton and J.P. Morgan have moved into top-quartile positions among peers after being admitted to into IMA sectors.
Templeton Asian Growth, run by emerging markets guru Mark Mobius, is now the top-performing fund over one year in Asia Pacific ex Japan sector. It has returned 88.38% over the 12 months to 7 April, compared to a sector average of 60.96%.
Asian Growth’s largest geographical weightings are in Thailand and India – which Mobius expects to continue to perform well in 2010.
“There is good reason to believe India will continue to register good economic growth. The Congress Party has a strong mandate from the electorate to make things happen,” he says.
“I think the key factors going forward will be an acceleration of infrastructure building and an improvement in government efficiency.”
Mobius’s other fund in the sector, Templeton China, has returned only 52.03% over the period, however.
In the IMA Europe inc UK sector, the J.P. Morgan Europe Strategic Value fund is ranked fourth over one year, up 49.68% against a sector average of 45.49%.
At the start of this month, the IMA added 91 offshore funds across 17 sectors with nearly half have been classified under Specialist. Of the total, 11 are from Franklin Templeton funds and 25 are run by J.P. Morgan.
The IMA says it will launch a second phase of submissions shortly, followed by a third period in Q4.
