FundMarket Insight Report Singapore Market Month-End Analysis May 31, 2013

Transcription

1 Lipper Research Series FundMarket Insight Report Singapore Market Month-End Analysis May 31, 2013 Markets Summary China Shanghai Composite Index rebounded 5.63% and took the lead among global major markets, while Russia RTS Index slumped 5.39% in May. Singapore Straits Times Index slid 1.69% in May and rose 4.56% for the Year-to-Date period. Xav Feng Head of Asia Pacific Research, Lipper Japan s Nikkei 225 Index rallied 32.51% and is the top performing market among all Asia markets for Year-to-Date period. Philippines PSE Composite Index, Indonesia Jakarta SE Composite Index and Thailand SET Index also soared 20.80%, 17.42% and 12.22%, respectively. China Shanghai Composite Index rebounded 5.63% and took the lead among global major markets in May. Singapore Straits Times Index slid 1.69% in May and rose 4.56% for the Year-to-Date period. Singapore-registered unit trusts gained 1.51% on average May and 7.12% for the Year-to-Date period. Equity China Small & Mid Cap(+15.25%) was the top performing sector, while Equity Australasia(- 8.49%)was the bottom performing one in May; Equity Sector Biotechnology was the top performing sector, while Equity Sector Gold&Prec Metals( %) was the bottom performing one for the Year-to-Date period.

2 Page 2 Table 1 Performance of Singapore Versus Global Equities (in %, and respective local currencies) Price Period ended 31 May 2013 Name 2013/05/31 1 Months 3 Months 6 Months 1 Year 3 Years 3 Years YTD Shenzhen Composite CR 1, Shanghai Composite CR 2, Xetra DAX TR 8, NASDAQ Composite CR 3, FTSE Bursa Malaysia KLCI CR 1, CAC 40 CR 3, FTSE 100 CR 6, S&P 500 Composite CR 1, TAIEX CR 8, KOSPI Composite CR 2, Dow Jones Industrial Average CR 15, S&P BSE SENSEX 19, Jakarta SE Composite Index 5, Swiss Market Index CR 7, Nikkei 225 CR 13, Philippine PSE Composite CR 7, Hang Seng CR 22, Singapore Straits Times CR 3, Thailand SET CR 1, Topix CR 1, Hang Seng China Enterprises CR 10, BOVESPA (Ibovespa) CR 53, S&P/ASX 200 CR 4, RTS CR 1, Singapore UOB SESDAQ CR Source: Lipper, a Thomson Reuters company Table 2 Performance of All Type of Assets for Funds RFS in Singapore (% Growth in SGD) Asset Type 1M YTD 1Y 3Y 5Y Alternatives Bond Commodity Equity Mixed Assets Money Market Other Real Estate Grand Total Source: Lipper Singapore-registered unit trusts gained 1.51% on average May and 7.12% for the Year-to-Date period. Returns in May varies across different asset class offerings, with real estate (-4.76%), equity (2.31%), mixed asset (1.15%) and bond (0.20%). Equity posted with 10.11% and became the best performing asset type for the Year-to-Date period. Looking at the best-performing asset classes by Lipper Global Classifications (Figure 1 below), the top 5 gainers in May were : Equity China Small & Mid Cap(+15.25%), Equity Malaysia Diversified(+13.27% ), Equity Vietnam(+11.59%), Mixed Asset CNY Flexible(+8.75%) and Equity Malaysia(+8.41%), while the primary loss-making classifications were Equity Australasia(-8.49%), Equity Australia(-8.35%), Equity Sector Real Est Asia Pacific(-8.01%), Real Estate Asia(-7.47%) and Bond Emerging Markets Latin Am(- 6.55%).

3 Page 3 For Year-to-Date period, the best 5 performing classifications were : Equity Sector Biotechnology(+34.52%), Equity Malaysia Diversified(+27.79%), Equity Vietnam(+27.60%), Equity Japan Sm&Mid Cap(+25.03%) and Equity Philippines(+23.58%), while Equity Sector Gold&Prec Metals( %), Commodity Precious Metals(-15.11%), Bond JPY(-11.49%), Money Market JPY(-11.34%) and Equity Sector Real Est Other(-7.73%). Figure 1 Ten Top- and Bottom-Performing Fund Sectors RFS in Singapore, May 2013 (in SGD) Equity China Small & Mid Cap Equity Malaysia Diversified Equity Vietnam Mixed Asset CNY Flexible Equity Malaysia Equity US Sm&Mid Cap Equity Sector Information Tech Equity MENA Equity Sector Biotechnology Mixed Asset MYR Bal - Malaysia Bond EUR Long Term -4.66% Equity Japan Sm&Mid Cap -4.84% Money Market AUD -5.02% Bond AUD -5.88% Bond Other Inflation Linked -6.25% Bond Emerging Markets Latin Am -6.55% Real Estate Asia -7.47% Equity Sector Real Est Asia Pacific -8.01% Equity Australia -8.35% Equity Australasia -8.49% 15.25% 13.27% 11.59% 8.75% 8.41% 7.03% 6.88% 6.62% 6.38% 6.20% -10% 0% 10% 20% Source: Lipper, a Thomson Reuters company

4 Page 4 Figure 2 Ten Top- and Bottom-Performing Fund Sectors RFS in Singapore, Year-To-Date (in SGD) Equity Malaysia Diversified Equity Vietnam Equity Japan Sm&Mid Cap Equity Philippines Equity China Small & Mid Cap Equity Sector Pharma&Health Equity Indonesia Equity US Income Equity US Sm&Mid Cap Money Market AUD Bond AUD Commodity Blended Equity Russia Real Estate Other Equity Sector Real Est Other Money Market JPY Bond JPY Commodity Precious Metals Equity Sector Gold&Prec Metals -3.65% -3.66% -3.68% -4.12% -4.40% -7.73% % % % % 27.79% 27.60% 25.03% 23.58% 23.39% 22.69% 22.68% 20.98% 20.44% -40% -20% 0% 20% 40% Source: Lipper, a Thomson Reuters company Outlook Federal Reserve Chairman Ben Bernanke has muddled message on QE. As the market debates whether the Fed should taper the pace of QE asset purchases, an uncomfortable truth is beginning to face market participants. Although the tapering of QE is inevitable and will not be pleasant, the unemployment rate is still relatively high, and it rose slightly to 7.6% in May. Meanwhile, the Fed's preferred measure of inflation is well below the central bank's goal, showing prices were up only 1.1% in the 12 months ending in April. The QE program is unlikely to come to a full stop until End- Xav Feng xav.feng@thomsonreuters.com Thomson Reuters All Rights Reserved. Lipper FundMarket Insight Reports are for informational purposes only, and do not constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. No guarantee is made that the information in this report is accurate or complete and no warranties are made with regard to the results to be obtained from its use. In

5 Page 5 addition, Lipper, a Thomson Reuters company, will not be liable for any loss or damage resulting from information obtained from Lipper or any of its affiliates. Appendix 1 Sector-wise Performance of Funds RFS in Singapore, by Lipper Global Classifications (% Growth in SGD) LGC 1M YTD 1Y 3Y 5Y Absolute Return CHF (1) (1.07) (0.71) (2.94) Absolute Return EUR High (9) (0.55) (13.77) Absolute Return EUR Low (11) (0.46) (11.47) Absolute Return EUR Medium (9) (0.95) (18.32) Absolute Return GBP High (4) (26.16) Absolute Return GBP Low (1) 0.24 (0.29) 6.09 Absolute Return GBP Medium (1) Absolute Return Other (9) Absolute Return USD High (4) (11.79) Absolute Return USD Low (9) (2.55) 0.58 Absolute Return USD Medium (6) (6.97) 4.40 Alternative Credit Focus (5) (11.32) Alternative Currency Strategies (11) (6.51) (13.42) Alternative Equity Market Neutral (1) (6.36) (23.80) Alternative Global Macro (5) Alternative Long/Short Equity Europe (1) Alternative Long/Short Equity UK (1) Alternative Long/Short Equity US (3) Alternative Managed Futures (1) (0.22) 2.51 (0.07) Alternative Multi Strategies (7) (0.57) (7.82) (15.61) Alternative Other (9) (3.12) Alternative Relative Value (2) 0.63 (1.00) (1.90) (5.53) (10.25) Bond Asia Pacific (36) (0.01) Bond AUD (1) (5.88) (3.66) (2.32) Bond BRL (1) (3.79) 1.09 Bond CAD (1) Bond CHF (4) (0.66) (0.79) Bond CNY (11) Bond Convertibles Europe (8) (0.91) Bond Convertibles Global (19) (1.50) Bond Convertibles Other (5) Bond DKK (1) Bond Emerging Markets Europe (3) (1.70) (1.92) Bond Emerging Markets Global HC (61) (0.53) Bond Emerging Markets Global LC (42) (3.24) Bond Emerging Markets Latin Am (1) (6.55) Bond Emerging Markets Other (4)

6 Page 6 Bond EUR (29) Bond EUR Corporates (25) Bond EUR High Yield (15) Bond EUR Inflation Linked (5) (0.17) (0.10) (11.61) Bond EUR Long Term (2) (4.66) 0.47 (2.91) Bond EUR Medium Term (4) (3.53) Bond EUR Short Term (9) (8.34) Bond Europe (10) (0.09) Bond Europe High Yield (8) Bond EuroZone (8) (0.24) (1.15) Bond GBP (12) (2.44) (2.94) Bond GBP Corporates (6) (1.65) (0.23) Bond GBP High Yield (4) (0.08) (0.57) Bond GBP Inflation Linked (2) (3.36) Bond GBP Short Term (1) (0.32) (2.73) (0.79) 1.03 (16.17) Bond Global (82) Bond Global Corporates (13) Bond Global EUR Hedged (2) (0.73) (4.10) Bond Global High Yield (30) Bond Global Inflation Linked (10) (2.12) Bond Global Short Term (3) (0.62) (0.34) Bond Global USD Hedged (3) Bond HKD (1) (0.74) (2.16) 8.90 Bond IDR (2) (0.61) (0.59) Bond INR (4) (0.54) (6.19) 0.45 Bond INR Government (1) (0.52) Bond JPY (1) (2.48) (11.49) (24.08) (16.02) 5.27 Bond MYR (3) Bond NOK (2) 0.32 (0.80) Bond Other (2) Bond Other CHF Hedged (1) (2.20) (1.83) Bond Other EUR Hedged (1) (4.98) Bond Other Hedged (1) (0.98) Bond Other Inflation Linked (4) (6.25) (1.27) Bond SEK (1) (1.82) Bond SGD (14) (1.27) (0.04) Bond USD (40) Bond USD Corporates (10) Bond USD High Yield (33) Bond USD Inflation Link (4) (1.01) 0.52 (2.86) Bond USD Medium Term (1) (0.52) (5.20) 2.94 Bond USD Short Term (13) (0.29) (5.03) 1.86 Commodity Agriculture (6) 0.93 (3.17) (1.28) 3.34 (37.21) Commodity Blended (22) 0.61 (3.68) (2.03) (10.52) (35.22) Commodity Precious Metals (4) (2.09) (15.11) (17.11) (12.28) (15.22)

7 Page 7 Equity ASEAN (7) Equity Asia Pacific (19) (0.36) (9.00) Equity Asia Pacific Ex Japan (123) Equity Asia Pacific Sm&Mid Cap (16) Equity Australasia (2) (8.49) (1.67) Equity Australia (4) (8.35) Equity Brazil (7) (3.58) (2.13) 3.14 (12.13) (30.80) Equity Canada (1) Equity China (41) (3.71) (6.60) Equity China Small & Mid Cap (1) (5.89) Equity Emerging Mkts Asia (9) (1.65) (5.21) Equity Emerging Mkts Europe (27) (2.48) (43.30) Equity Emerging Mkts Global (107) (14.60) Equity Emerging Mkts Latin Am (25) (3.10) (1.46) 8.81 (4.73) (24.95) Equity Emerging Mkts Other (13) (28.38) Equity Europe (105) (12.46) Equity Europe ex UK (20) (12.96) Equity Europe Sm&Mid Cap (32) (5.36) Equity EuroZone (24) (23.37) Equity EuroZone Sm&Mid Cap (4) (11.68) Equity France (2) (21.80) Equity Germany (6) Equity Global (207) (9.94) Equity Global ex US (2) (1.51) (17.15) Equity Global Income (22) (7.14) Equity Global Sm&Mid Cap (10) Equity Greater China (42) (3.12) Equity Hong Kong (6) Equity Iberia (1) (30.99) Equity India (56) (0.42) (0.82) (13.70) (9.18) Equity Indonesia (9) Equity Italy (3) (45.78) Equity Japan (73) (3.51) (16.15) Equity Japan Sm&Mid Cap (11) (4.84) Equity Korea (12) 2.18 (1.72) (16.79) Equity Malaysia (10) Equity Malaysia Diversified (2) Equity Malaysia/Singapore (7) Equity MENA (12) (29.34) Equity Nordic (2) (17.07) Equity Norway (1) (25.63) Equity Other (1) (1.31) Equity Philippines (1) (0.59) Equity Russia (14) 0.83 (4.12) 9.37 (12.22) (46.90) Equity Sector Banks&Financial (11) (19.70)

8 Page 8 Equity Sector Basic Industries (7) (41.73) Equity Sector Biotechnology (5) Equity Sector Cyc Cons Gds&Svc (15) Equity Sector General Industry (2) (12.78) Equity Sector Gold&Prec Metals (12) (0.35) (30.12) (26.67) (40.81) (43.59) Equity Sector Information Tech (25) Equity Sector Natural Resource (39) 3.64 (0.96) 3.13 (8.50) (39.91) Equity Sector Non Cyclical Con (2) (0.64) Equity Sector Pharma&Health (16) Equity Sector Real Est Asia Pacific (11) (8.01) (0.14) Equity Sector Real Est Europe (5) (19.37) Equity Sector Real Est Global (31) (3.99) (3.66) Equity Sector Real Est Other (3) (3.80) (7.73) 5.60 (39.94) (47.25) Equity Sector Real Est US (2) (3.40) Equity Sector Tech Media&Tele (2) (2.66) Equity Sector Telecom Srvcs (4) (0.16) (5.34) Equity Sector Utilities (7) (26.35) Equity Singapore (18) (0.95) Equity Sweden (2) Equity Swiss Sm&Mid Cap (3) (6.79) Equity Switzerland (4) Equity Taiwan (7) Equity Thailand (9) (2.81) Equity Turkey (6) (0.17) Equity UK (17) (2.60) Equity UK Income (2) (1.04) Equity UK Sm&Mid Cap (2) Equity US (126) Equity US Income (3) Equity US Sm&Mid Cap (24) Equity Vietnam (5) Guaranteed (15) (5.76) Hedge/Credit Focus-FoHF (4) Hedge/Emerging Markets-FoHF (4) (6.48) Hedge/Equity Market Neutral-FoHF (1) Hedge/Event Driven-FoHF (8) (23.05) (7.26) Hedge/Fixed Income Arb-FoHF (1) Hedge/Long/Short Equity-FoHF (13) Hedge/Managed Futures/CTAs (1) (3.34) 3.70 (14.81) Hedge/Managed Futures-FoHF (6) (13.39) Hedge/Multi Strategies-FoHF (106) (2.06) (12.49) Hedge/Other Hedge-FoHF (5) Mixed Asset BRL Balanced (1)

9 Page 9 Mixed Asset CHF Aggressive (1) Mixed Asset CHF Balanced (3) (0.04) Mixed Asset CHF Conservative (2) (0.26) Mixed Asset CHF Flexible (2) (0.35) Mixed Asset CNY Flexible (1) (1.40) Mixed Asset EUR Agg - Global (7) Mixed Asset EUR Bal - Global (17) (7.97) Mixed Asset EUR Cons - Europe (1) Mixed Asset EUR Cons - EuroZone (1) (13.40) Mixed Asset EUR Cons - Global (7) (12.63) Mixed Asset EUR Flex - Europe (2) (21.32) Mixed Asset EUR Flex - Global (12) (11.12) Mixed Asset GBP Aggressive (5) (16.81) Mixed Asset GBP Balanced (8) (0.14) (11.08) Mixed Asset GBP Conservative (2) (0.08) (11.90) Mixed Asset IDR Balanced (1) Mixed Asset IDR Conservative (1) Mixed Asset INR Aggressive (3) (1.98) (0.78) 9.07 (10.24) 7.05 Mixed Asset MYR Bal - Global (1) Mixed Asset MYR Bal - Malaysia (4) Mixed Asset MYR Conservative (1) Mixed Asset Other Aggressive (4) (6.72) Mixed Asset Other Balanced (5) (1.06) Mixed Asset Other Conservative (3) (0.82) Mixed Asset Other Flexible (17) Mixed Asset SGD Aggressive (7) (9.62) Mixed Asset SGD Balanced (24) Mixed Asset SGD Conservative (7) (0.78) Mixed Asset USD Aggressive (8) (1.20) Mixed Asset USD Bal - Global (24) Mixed Asset USD Bal - US (3) Mixed Asset USD Conservative (7) Mixed Asset USD Flex - Global (14) Money Market AUD (1) (5.02) (3.65) (0.85) Money Market CAD (1) (0.02) (0.04) (1.02) (6.03) (7.12) Money Market CHF (5) (0.56) (1.18) (0.52) Money Market CNY (1) Money Market EUR (29) (3.56) (18.75) Money Market EUR Leveraged (1) (4.02) (17.75) Money Market GBP (13) 0.04 (3.35) (2.83) (4.58) (25.43) Money Market HKD (1) (1.73) (9.00) (5.08) Money Market INR (1) (1.39) (6.25) (1.33) Money Market JPY (2) (0.94) (11.34) (23.79) (18.47) (2.22) Money Market NZD (1) (4.44) Money Market Other (3) (3.70) Money Market SGD (7) Money Market USD (37) (1.78) (9.38) (6.12) Protected (5) (5.47) (11.17)

10 Page 10 Real Estate Asia (28) (7.47) Real Estate European (1) (14.71) Real Estate Japan (2) (4.25) Real Estate Other (1) (3.79) (4.40) (8.18) Real Estate UK (12) Target Maturity MA USD 2020 (1) (8.00) Target Maturity Other (7) (0.08) Unclassified (5) (1.05) 0.33 (1.24) Alternative Event Driven (2) (3.70) Absolute Return AUD Low (1) Source: Lipper, a Thomson Reuters company