Martin Currie IF Asia Pacific: Qual. Rating Issued
A disappointing 2009 doesn’t dent the long-term appeal of Martin Currie IF Asia Pacific.
"Despite delivering a strong absolute return of 31.79%, the fund severely lagged its peers in 2009, falling behind the category average by almost 20 percentage points. This was driven more by what the fund did not hold: primarily the most cyclical stocks. This positioning stemmed from the portfolio managers and their investment process rather than any deviation from this—and one year of poor performance has not dented our confidence here. The fund is 1.74% per year ahead of the Morningstar category average from 1 July 2001 to 31 Jan. 2010. . . ."
The full four page pdf report can be accessed here. It is free to users of Morningstar.co.uk.