Investment Office Monthly Fund Digest (December 2023)

Asia Equities

Fidelity Asia Pacific Dividend Fund

ISIN: LU2578576113 (SGD, Cash/SRS), LU0877626530 (USD, Cash)

The Fund offers investors access to dividend-paying companies in the Asia Pacific region, which are backed by robust balance sheets and have a track record of substantial dividend growth. Emphasising a “pure dividend mindset”, the fund automatically filters stocks with less than a 2% dividend yield and prioritises valuation and quality. This strategic approach, coupled with robust risk management, has led the fund to outperform versus peers during periods of market turbulence.

This fund boasts a strong track record, consistently ranking top tier in performance and risk metrics among Asian income funds peers. With a focus on quality businesses, it has historically maintained a dividend yield surpassing benchmarks and delivers a running yield greater than its distribution yield.

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Asia Fixed Income

PineBridge Asia Pacific Investment Grade Bond Fund

ISIN: IE000ZCXK4K5 (SGD, Cash/SRS, Acc), IE000HYTY7C1 (SGD, Cash/SRS, Dist), IE000XHWWA49 (USD, Cash, Acc), IE000SCMGGK4 (USD, Cash, Dist)

The Fund invests in USD-denominated bonds in Asia Pacific Fund, focusing solely on investment-grade bonds and avoiding high-yield allocations common in the Asian credit space. Led by the Co-Head of Pinebridge Asia ex Japan Fixed Income Team and supported by experienced backup portfolio managers and a dedicated team of analysts, this fund combines bottom-up security analysis with a macro and industry-focused top-down approach.

Despite a cautious stance that has led to underweighting or exclusion of high-risk countries, the fund has matched the benchmark's performance since inception. Notably, it exhibits strong risk and duration management compared to peers,and performance has been largely driven by superior credit selection.

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*Annualised returns are calculated based on the returns of the target share class, and the oldest share class of the fund where the target share class is younger than three years. Three-year returns are based on the period from December 2020 to November 2023 unless otherwise stated. Returns are translated into SGD (except for non-SGD funds) and are net of fund-level fees. 

**Where a fund or portfolio has both SGD and USD share classes, the fees of the SGD share class are shown. Total portfolio and fund-level fees include fund total fund-level fees.

***Endowus does not charge a preliminary sales charge or any other additional fees, other than the all-in Endowus Fee.

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