Templeton Asian Growth
Net flows: -$576.3 million
The $5 billion Templeton Asian Growth fund has seen the second highest amount of outflows and is the only equity fund in this line up.
Poor performance could be blamed for investors withdrawing their money from the fund, as it has consistently underperformed its benchmark and is ranked 348 out of 385 funds in the sector over three years.
In addition to performance, a manager change could partly explain recent outflows. In April 2017 Mark Mobius stepped down as lead manager from several funds including this one. Allan Lam, who had acted as co-manager since January 2016, was promoted to lead manager with Eric Mok joining him on the fund in April 2017.
The managers currently have 56 holdings in the fund, the largest of which is Chinese car manufacturer Brilliance Auto at 8.87% of the fund. In terms of sectors, energy is the largest allocation at 20.04% while the managers devote 19.47% to financials.
Estimated net flows derived from Lipper data using monthly data points. Assets across all a fund’s share classes are included with performance stripped out. The universe covers all active mutual fund assets Citywire has fund managers assigned to in the global ex US peer group. Time period: Three years to 31/07/2017.