Funds focused on quality falter in second quarter
Standard & Poor's Fund Services says fundamentals supporting Asian markets remain intact, after low-quality and small-cap stocks lead the second-quarter rally.
Asian equity funds performed well in the second quarter in a "rally driven by junk", but a correction may be on the cards for the autumn, according to the fund services divison of rating agency Standard & Poor's.
The median Pacific fund returned 27.4% in the quarter and its Southeast Asia counterpart returned 31.6%, according to a S&P Fund Services survey released yesterday. Investors in Southeast Asian smaller companies fared even better, with the median small-cap fund retur…
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