Tech and financials boost Asian sector

Rally in Asia Pacific stock markets led by technology and financial stocks, making region second top performer in IMA sector

Technology and financial stocks led the rally in Asia Pacific stock markets in March, to make Asia Pacific ex Japan the second top performing IMA sector in March after Global Emerging Markets, with an 11.1% average performance. The sector returned more than 10% from 28 February to 31 March, jumping from 1.08%, according to Lipper figures. But actively managed funds underperformed the FTSE World Pacific excluding Japan Index during the month, which was up around 14.5%, compared to the 11% IMA sector average. Aberdeen Asset Management's £1.046bn Asia Pacific fund manager Hugh Young says...