Global Funds Top Performers in November 2014

0 Global Funds Top Performers in November 2014

In November 2014, the Fundsupermart Indices (FSMI) – All Equity which tracks the performance of all equity funds distributed on Fundsupermart’s platform lost 1.4%. The MSCI AC World Index, a proxy for global equities gained 4.2% (in Ringgit terms) for the month. The S&P 500 Index gained 5.2% while Europe’s DJ Stoxx gained 5.0% (both in Ringgit terms) in November 2014. In Europe, the European Central Bank (ECB) held their monetary policy meeting on Thursday 4 December 2014, with no changes in its monetary policy. While there were no changes to its monetary policy, the ECB has lowered both its inflation as well as growth forecasts for 2015 and 2016 significantly, with inflation lowered to 0.7% from 1.1% for 2015 and from 1.4% to 1.3% for 2016. Growth forecasts were adjusted sharply downward with 2015’s growth rate slashed to 1.0% from 1.6% previously and 2016’s growth outlook reduced to 1.5% from 1.9%. While no new monetary policy tools or measures were revealed, Mario Draghi stated that the ECB would evaluate its asset purchases programs early in the new year without ruling out the possibility of introducing further easing measures ( the ECB has “stepped up” preparations for new stimulus) should the situation require so.

In the US, job creation remained robust in November 2014. Non-farm payrolls revealed the US economy to have created 321,000 new jobs in November, easily surpassing consensus expectations of a 230,000 job creation number to bring average monthly gains to over 220,000 jobs per month thus far in 2014. November’s strong job creation numbers were the strongest since January 2012. The US unemployment rate remained at 5.8% in November 2014, the lowest level since July 2008 while the participation rate was unchanged at 62.8%.

Among the top gainers in November 2014 were the Shanghai Stock Exchange Composite Index, FTSE Gold Mines Index (gold equities), NASDAQ 100 Index (Technology), S&P 500 Index (US) and STOXX Europe 600 Index which recorded advances of 13.3%, 7.6%, 7.1%, 5.2% and 5.0% respectively (all in Ringgit terms).

The top five performing unit trusts on were equity funds invested into global markets as well as developed markets. AmPrecious Metals topped the list in the month of November 2014, with a return of 7.87% while RHB-OSK Leisure, Lifestyle & Luxury Fund came in second with a return of 6.88% in the same month. RHB-OSK Leisure, Lifestyle & Luxury Fund aims to achieve long-term capital appreciation by investing in equities and equity-related securities issued by companies that provide goods and services in the leisure, lifestyle and luxury market. Based on the fund’s factsheet as of 31 October 2014, the fund has 66.43% of its net asset value (NAV) invested into consumer sector. In terms of its country allocation, the top three countries the fund invested in included New York (32.05%), Japan (23.13%) and Germany (11.84%). Other funds which invest into global markets include TA Global Technology Fund and RHB-OSK Global Themes Fund with returns of 6.42% and 5.99% respectively in November 2014. CIMB-Principal Global Titans Fund, the only fund in the list that invests in developed markets, returned 5.82% in the same month.

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AmPrecious Metals Equity Global – Gold & Minerals 7.87%
RHB-OSK Leisure, Lifestyle & Luxury Fund Equity Global – Consumer 6.88%
TA Global Technology Fund Equity Global – Technology 6.42%
RHB-OSK Global Themes Fund Equity Global – General 5.99%
CIMB-Principal Global Titans Fund Equity Developed Markets – General 5.82%
Source: compilations as at 30 November 2014. Performance figures in the table are in RM terms, calculated using NAV prices, with any income or dividend reinvested.

This article is not to be construed as an invitation or solicitation for the subscription, purchase or sale of any fund. Investments involve risks. Investors should read the fund’s prospectus and if necessary, consult with financial or other professional advisers.

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Head of Asset Allocation and Portfolio Solutions, Wealth Management Group, Standard Chartered

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