That's the opposite of what happened in August, when the cap-weighted Nasdaq's 11 per cent return was more than twice the equal-weight's. In that month, less than a third of large-cap active managers beat their benchmarks, with the average fund lagging by the widest margin since June 2016, according to Bank of America.
"If you've had 1 per cent or 2 per cent, that's made a huge difference because some of these names are up 50-70 per cent. It's very painful to not have those as part of your portfolio, even in multi-asset." Among some 200 equity funds that are benchmarked to the S&P 500 and have at least US$500 million in assets, those heavily tilted to FAAMG have greatly outperformed.
The big five, which also includes Microsoft, accounted for almost a quarter of the total buying of single stocks that Goldman's prime-brokerage unit executed during the week. Right now, roughly 60 per cent of the funds tracked by the firm favoured tech, making it the most popular industry.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US: Nasdaq opens higher as tech selloff calms[BENGALURU] The Nasdaq rose at the open on Friday, shaking off a two-day decline in heavyweight technology stocks, while worries about rising coronavirus cases and a patchy economic recovery weighed on the S&P 500 and Dow. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Nasdaq futures bounce as tech selloff easesFutures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Canada launches emissions reduction fund from Volkswagen fineCanada launched a fund on Thursday to invest in community-based projects to curb emissions, with bulk of the money coming from a fine that ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nasdaq futures bounce as tech selloff easesFutures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US: Nasdaq opens higher as tech selloff calms[BENGALURU] The Nasdaq rose at the open on Friday, shaking off a two-day decline in heavyweight technology stocks, while worries about rising coronavirus cases and a patchy economic recovery weighed on the S&P 500 and Dow. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
First China bond ETF in Singapore to launch amid rising foreign interest in yuan assetsSHANGHAI: The largest exchange-traded fund to invest purely in Chinese government bonds lists in Singapore next week, the bourse and the fund ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »