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The Holy Grail of Emerging Market Investing...Find a good fund manager

beebee
edited July 2014 in Fund Discussions
John Hulsman's comments on EM investing:

"I propose a fresh way of looking at the world’s fast-growing economies: the Sergio Leone model, named for the peerless Italian director of spaghetti westerns. The future for some emerging markets will be good, for others bad, and for yet others ugly. Disaggregating them will amount to the holy grail for global investing."

Most Matthews Funds disaggregate Asia markets very well.
Likewise, most Watsatch Funds have pricey (ERs) funds, but outweighs this cost with performance.

What are your favroite EM Managers or funds?

telegraph.co.uk/finance/economics/10969171/Forget-Brics-heres-the-good-the-bad-and-the-ugly-of-global-markets.html

Comments

  • Old_JoeOld_Joe
    edited July 2014
    So far I'm very happy with Wasatch WAFMX, Matthews MAPIX, Artisan ARTGX, Seafarer SFGIX, and Grandeur Peak GPROX. When the inevitable major downturn happens, it will be interesting to see who does what to whom, but I'm hoping that there's sufficient diversity in that bunch to smooth things a bit. As a group, they comprise about 15% of the total portfolio.
  • scott
    edited July 2014
    There's not that many great ones. OJ mentioned a number of them. I've been decently pleased with RIMIX although, yes, I know ER is higher than average. I continue to like the conglomerates in Asia, especially Hutchison Whampoa (which just delivered a pretty significant special dividend a couple months ago) and Jardine Matheson.

  • AndyJ
    Scott, you've owned JM for quite a while, I think? I forgot about it until recently, but see it's done pretty well for quite a while and yet is still priced below book (according to M* anyway).
  • AndyJ
    The only pure emerging/frontier holding I have is WAFMX. Also own MAINX, a small chunk of PAFSX just to try it out, and GPROX; those are all ~ in the 40-50% range in EMs.

    I also keep an eye on HLMOX, MEASX, and SFGIX, but no $ there.

    RIMIX looks interesting; it's 'EM' but almost entirely invested in Asia. It and PAFSX are pretty much tied since PAFSX opened for biz'ness ... but Paf is very heavy in tech, so it may not be a consistent winner.
  • CrashCrash
    Matthews, SFGIX, TRAMX.
    Matthews = (gulp) 38.7% of my stuff, plus MAINX bonds, carrying 3.53% of total. Also PREMX bonds at 3.96%.

    SFGIX = 2.76% of portf.
    TRAMX = 2.66% of total. It's at a new all-time high, $10.23. Luckily, I got in at $7.19 and in January, took goodly profits and gave it all to PRWCX. So proportionally, TRAMX is smaller than it was at the New Year.
  • timgr
    MAPIX is 60% developed markets (ie Japan, Ausralia) so IMO it's rather weak tea for an EM holding.

    No one has mentioned FNMIX, which has done very well for me.

  • [Deleted User]
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  • MikeMMikeM
    My favorite EM fund was a suggestion from BobC, ODVYX. I've owned it for a few years now. It's one of the best downside protection EM funds around. Alas, it's closed to new investors. Another favorite (but not really an EM fund) is GPGOX, It is really a small cap global fund with most of it's exposure in developed markets. For Asia exposure I've held MACSX for many years - again, per M*, not really EM, mostly developed markets.
  • beebee
    Thanks all for many intersting comments and choices.

    Ted often references US News and their list of funds.

    Here is the Diversified EM list:

    money.usnews.com/funds/mutual-funds/rankings/diversified-emerging-mkts

    Latin America List:

    money.usnews.com/funds/mutual-funds/rankings/latin-america-stock
  • scott
    edited July 2014
    AndyJ said:

    Scott, you've owned JM for quite a while, I think? I forgot about it until recently, but see it's done pretty well for quite a while and yet is still priced below book (according to M* anyway).


    For me, it's a very long-term holding and remains an appealing, blue chip Asian consumer name. Has done a decent job growing the dividend, as well. I've also owned Jardine Strategic, but have stuck with the parent due to the ability to reinvest divs. The company has pretty much always traded around book, as it continues to trade with a conglomerate discount (see also Hutchison and things like Loews in the US.) Swire and First Pacific are other Asian conglomerates of interest, but I continue to own Hutchison and Jardine only. Jardine's subsidiaries (such as Dairy Farm and Mandarin Oriental Hotels) are separately traded entities, but are thinly traded.
  • slick
    I own two: ODVYX and ABEMX, they seem to work well together. When one zigs the other zags, rarely in tandem, which I like. Have some other intl funds that have some exposure to e emerging markets, you asked about EM funds
  • CrashCrash
    edited July 2014
    timgr said:

    MAPIX is 60% developed markets (ie Japan, Ausralia) so IMO it's rather weak tea for an EM holding.

    No one has mentioned FNMIX, which has done very well for me.

    I track FNMIX and concur that it is a great choice. I keep forgetting that MAPIX has morphed into a more developed-Market look and feel over the years. But if it works, don't fix it.

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