A NEW SURVEY BY Mercer Investment Consulting has shown that Indocam Asset Management's ORSO fund recorded the best returns during the fourth quarter of last year. However, results were generally dismal, in keeping with the rest of the year.
Indocam's fund grew 3.7 per cent, making it the only one out of the 19 fund managers surveyed to record a positive return for the last three months of last year.
The next-best fund return was from New Alliance Asset Management, which saw its fund hold firm with a 0.1 per cent return.
Of the other 17 managers, Deutsche Asset performed the worst, shedding 7.7 per cent. However, it remains in first place for returns over the past three and five years, recording 11.3 per cent and 10.8 per cent, respectively.
HSBC Asset Management, the largest asset-holder with HK$45 billion, had an average fourth quarter. HSBC ranked 10th with a return of minus 3.2 per cent. Its three-year performance is, however, better, ranking ninth with a total return of 8.1 per cent.
Jim Johnston, Mercer's director of investment consulting, believes the fourth-quarter results were reflective of last year as a whole.