Research house van Eyk has reshuffled the multi-manager line-up within its Blueprint Global Emerging Markets Fund after reviewing asset managers that invest in Asian and Chinese equities.
The Treasury Asia Asset Management (TAAM) New Asia Fund’s 12.5 per cent mandate within the Blueprint product was terminated after the fund manager was downgraded in the reviews.
TAAM’s place in the fund was replaced with an allocation to a T Rowe Price fund, van Eyk product manager Jacqui Lemon said.
“The T Rowe Price Asia ex Japan Fund was introduced to the fund at a weighting of 12.5 per cent, as a consequence of TAAM no longer being eligible for inclusion within the fund,” she said.
“Van Eyk believes that T Rowe Price is well placed to outperform in up market conditions, markets driven by company fundamentals, where small caps outperform relative to the broader market, and when Indian stocks outperform.”
Van Eyk also made a new 5 per cent allocation to the Premium China Fund, managed by Hong Kong-based Value Partners.
“The key strength of Value Partners is their large investment team, which includes personnel with significant experience working in the Chinese market,” Lemon said.
“The manager’s consistent cash allocation, coupled with its opportunistic exposure to fixed-income securities, should see it provide reasonable downside protection.
“Van Eyk believes that the Premium China Fund complements growth-oriented managers, such as T Rowe Price.”
The Blueprint fund’s 37.5 per cent allocation to the Schroder Global Emerging Markets Fund was shed by 5 per cent to reduce manager concentration risk.
The van Eyk Blueprint Global Emerging Markets Fund has returned 21.76 per cent since its inception on 22 October 2008 through to August 2010.
