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Post by javajoe on Dec 26, 2020 15:31:28 GMT
For the last few years, where my focus as a mid 40's accumulator has been growing my company and less on actively managing my retirement portfolio, I have been heavily tilted away from developed Europe and have ~20% of total port in SIGIX (~50/50 dev/em, more of a value fund) and MAPIX (60/40 developed/emerging asia, historically more dividend focused but currently somewhat growthy). Both are fairly tame, disciplined funds with solid teams and consistent methodologies. Funds like MCSMX, MATFX etc have been on a tear this year and I don't want to chase returns in the rear view mirror, a frequent problem of the hottest EM fund (MSMLX, TRAMX etc). That being said, I would appreciate hearing any advice from Chang and others on forward-looking fund or AA thoughts with a 1-2 year horizon.
How are you handling your Asia/EM exposure?
-JavaJoe
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Post by acksurf on Dec 26, 2020 20:40:15 GMT
For the last few years, where my focus as a mid 40's accumulator has been growing my company and less on actively managing my retirement portfolio, I have been heavily tilted away from developed Europe and have ~20% of total port in SIGIX (~50/50 dev/em, more of a value fund) and MAPIX (60/40 developed/emerging asia, historically more dividend focused but currently somewhat growthy). Both are fairly tame, disciplined funds with solid teams and consistent methodologies. Funds like MCSMX, MATFX etc have been on a tear this year and I don't want to chase returns in the rear view mirror, a frequent problem of the hottest EM fund (MSMLX, TRAMX etc). That being said, I would appreciate hearing any advice from Chang and others on forward-looking fund or AA thoughts with a 1-2 year horizon.
How are you handling your Asia/EM exposure?
-JavaJoe I agree and that's why my foreign/emerging allocation has diminished so much. I have a small long term foreign position and generally am in emerging/China/Asia on more of a momentum/trade basis. Currently MATFX - timing was pretty good for this. I also have small positions in Fidelity Emerging Markets and Vanguard International Growth. Might look at a smaller company fund like VSS or Fidelity's Small Cap Int'l
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Post by chang on Dec 28, 2020 1:06:12 GMT
Well, I am overweight in Asia equity, for obvious reasons. (I'm overweight "international" generally, because of better valuations [although people have been saying that for decades] and overweight Asian EM because that's where the dominant future growth appears to be.)
I hear you regarding chasing hot asset classes and funds. But some run-ups may last for years (and run-downs, too). I'm less of a bottom-fisher than I used to be. Maybe consider edging gently into a hot area.
I'm reluctant to recommend specific funds, since there are so many that are competent and promising. As regards Asia/EM specifically, I can tell you that I own APYDX, SIGIX, MIAPX, MATFX and FHKCX all of which own a healthy amount of Asia/EM.
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Post by javajoe on Dec 28, 2020 14:58:32 GMT
Has anyone back-tested a tactical momentum-based rotation strategy using the universe of Matthews funds? For example, every 6 months months, simply buy the Matthews fund with the best trailing 6 month returns? I would never do this for a large portion of my AA but I'm wondering how that would have worked for ~5% of port over the last 10 years if executed in a disciplined manner? -JavaJoe
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Post by chang on Jan 1, 2021 22:03:12 GMT
Has anyone back-tested a tactical momentum-based rotation strategy using the universe of Matthews funds? For example, every 6 months months, simply buy the Matthews fund with the best trailing 6 month returns? I would never do this for a large portion of my AA but I'm wondering how that would have worked for ~5% of port over the last 10 years if executed in a disciplined manner? -JavaJoe Not my investment style, but it could work in principle. Their funds share many common managers and analysts, so the rotations would amount to relatively incremental changes rather than drastic upheavals. I'm surprised Matthews hasn't introduced its own actively managed, fund-of-Matthews-funds, like PIMCO (PAAIX/PAUIX) or Baron (forgot the name). [Edit: Baron WealthBuilder Fund (BWBIX).]
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Post by chang on Jan 6, 2021 0:52:10 GMT
Short term action is largely noise, but still it seems to me that Asia and China-centric funds are powering up a bit. The China-EU deal is very big news IMO (even though it must go through an approval process).
I started a position in FHKCX at the end of 2020; I think I should add to it now.
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Post by acksurf on Jan 22, 2021 0:24:44 GMT
To continue this...I have MATFX and Fidelity Emerging Market. Is there any reason to open another position in Fidelity China Region or the Fidelity SE Asia Fund or some other Asia/emerging fund. Or just continue to add to the existing funds? I don't really like to hold too many funds that overlap.
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Post by chang on Jan 22, 2021 0:51:03 GMT
acksurf I don't own FEMKX but if I wanted an EM fund I would buy it. Has a new manager John Dance who put up excellent returns at FSEAX! So not really "new" at all... FSEAX and FHKCX both have superb records. I started buying the latter for China-centric exposure but both seem to be killing it. I am not normally a big fan of Fidelity in-house funds, but some are occasionally excellent and they seem to be hitting on all cylinders in the EM space. (On my mobile phone and going from memory, so better double check what I've said...)
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Post by acksurf on Jan 22, 2021 1:36:47 GMT
acksurf I don't own FEMKX but if I wanted an EM fund I would buy it. Has a new manager John Dance who put up excellent returns at FSEAX! So not really "new" at all... FSEAX and FHKCX both have superb records. I started buying the latter for China-centric exposure but both seem to be killing it. I am not normally a big fan of Fidelity in-house funds, but some are occasionally excellent and they seem to be hitting on all cylinders in the EM space. (On my mobile phone and going from memory, so better double check what I've said...) Thanks for your thoughts. I agree the only Fidelity Funds I have now are FEMKX and Fidelity Select Technology. Still considering Fidelity's Intl Small Cap fund which I know you've been buying.
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Post by anitya on Jan 22, 2021 2:35:35 GMT
acksurf I don't own FEMKX but if I wanted an EM fund I would buy it. Has a new manager John Dance who put up excellent returns at FSEAX! So not really "new" at all... FSEAX and FHKCX both have superb records. I started buying the latter for China-centric exposure but both seem to be killing it. I am not normally a big fan of Fidelity in-house funds, but some are occasionally excellent and they seem to be hitting on all cylinders in the EM space. (On my mobile phone and going from memory, so better double check what I've said...) Thanks for your thoughts. I agree the only Fidelity Funds I have now are FEMKX and Fidelity Select Technology. Still considering Fidelity's Intl Small Cap fund which I know you've been buying. Acksurf, Your reply was posted in Admin’s box, rather in your box - see the two boxes above. I have the same problem when I use tablet and I touch the screen to start replying after hitting ‘Quote’ - the cursor is automatically placed in the box you are replying to. I have to manually move the cursor to right above ‘Preview’ without touching ‘Preview’ before I start typing. The problem is compounded by not much space below the box you are replying to - it challenges one’s motor skills. Good luck! Not a problem when I use my PC. A
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Post by chang on Jan 22, 2021 2:51:29 GMT
anitya You are right, a lot of people who "quote" accidentally add their own comments to the previous poster's. ProBoards is a little weak here; you have to take care. Also, quoting always keeps the last two replies; you cannot actually keep ONLY one. Best you can do is to erase the text of the earlier post. yogibearbull do you know of any way to quote only one post if that post also includes a quote?
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Post by yogibearbull on Jan 22, 2021 4:03:23 GMT
anitya You are right, a lot of people who "quote" accidentally add their own comments to the previous poster's. ProBoards is a little weak here; you have to take care. Also, quoting always keeps the last two replies; you cannot actually keep ONLY one. Best you can do is to erase the text of the earlier post. yogibearbull do you know of any way to quote only one post if that post also includes a quote? Well, ProBoards has its peculiarities and posters have to pay attention. There are also differences between PC and mobile browsers. On PC, posters replying within quote-box [by mistake] will have to click in reply area outside the quote-box to place cursor properly. A confusing aspect is that when quoting a long post, the reply area outside becomes tiny and it seems counterintuitive to click there, but that is what needs to be done. On phone browser, reply can begin right after the last [br-eak] without introducing any spaces or line-breaks - as [br-eak] means a line-break already. But posters tend to introduce 1 or 2 line-breaks, and then we see lots of blank spaces from mobile browser posts. There is a maximum of 3-post chain. Complications arise when replying to 2- or 3- post chains. In replying to 2-post chain, the older post can be edited out, or keep everything and it becomes 3-post chain. In replying to 3-post chain, the oldest post will be dropped. The middle-old post can be edited out, or keep everything and now you have a new 3-post chain. Edit/Add: Finally in 3 tries! I had to distort [br-eak] to avoid HTML code insertion.
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Post by yogibearbull on Jan 23, 2021 23:07:21 GMT
anitya You are right, a lot of people who "quote" accidentally add their own comments to the previous poster's. ProBoards is a little weak here; you have to take care. Also, quoting always keeps the last two replies; you cannot actually keep ONLY one. Best you can do is to erase the text of the earlier post. yogibearbull do you know of any way to quote only one post if that post also includes a quote? Checkout this Quote Highlighted Text plugin. It may address quote issues. proboards.com/library/plugins/item/750 or Quote Selections from a post, proboards.com/library/plugins/item/322
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Post by chang on Jan 24, 2021 2:39:45 GMT
acksurf I don't own FEMKX but if I wanted an EM fund I would buy it. Has a new manager John Dance who put up excellent returns at FSEAX! So not really "new" at all... FSEAX and FHKCX both have superb records. I started buying the latter for China-centric exposure but both seem to be killing it. I am not normally a big fan of Fidelity in-house funds, but some are occasionally excellent and they seem to be hitting on all cylinders in the EM space. (On my mobile phone and going from memory, so better double check what I've said...) acksurf: "Thanks for your thoughts. I agree the only Fidelity Funds I have now are FEMKX and Fidelity Select Technology. Still considering Fidelity's Intl Small Cap fund which I know you've been buying." I bought my full, desired position in FISMX. Now I'm sitting on it, waiting for it to hatch. For many years, I didn't find much in Fido funds to interest me. It seems now that they have a number of standout funds. I think FEMKX, FSEAX and FHKCX are excellent. FPURX is an under-the-radar gem. FISMX I have discussed at length elsewhere; it's a good fund in a category with few options. FICDX is the only Canada fund I know of (apart from EWC); I am sitting on that one, too. Sorry this thread has wandered off-topic. I plan to increase Asia/EM exposure throughout 2021, buying on dips. I may do so using cash or buy shifting from US equity, depending upon which way the wind is blowing.
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