ASEAN Fund lonely at the top gotta play the stock market money market deposit worries

 Global market in 2010, generally do a good job the last month, U.S. stocks up 5 to 6%, Europe rose nearly 5% of the outstanding performance of individual emerging markets, India rose 5%, Taiwan up 7.2%, 7.7% Han Seung-country oil price that the Russian stock market soared 10.8%, China haggard he died alone, the Shanghai A shares and H shares fell in Hong Kong the Hang Seng Index edged up by 0.1 in December. Outlook 2011, the global economic situation a little more clear in 2010, a fund industry believe that the better the performance of ASEAN last year, the Fund should only make a departure, this year can be traced backward Greater China Fund is a better choice.

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fluctuations passed in 2010. China's rapid economic development, the annual growth of more than 9% is estimated to become the locomotive of global economic recovery, the irony is that China's stock market performance of the global third last year, only slightly better than the European pig Portugal and Spain, in the regulation of the shadow of the Shanghai stock market decrease of 14.3% in 2010, the year Hong Kong-listed H shares fell about 1%, this impact, the Hang Seng Index rose only 5.3% of the year, underperforming other emerging markets.

ASEAN Free Trade Agreement to promote economic development

Instead of ASEAN member countries and China, Japan, Korea, India signed a free trade agreement to promote intra-regional trade, ASEAN in 2010 members of the stock market with outstanding performance, the Indonesian stock market rose 46%, the Thai stock market rose 41%, Indonesia, Thailand, last year's record single-country funds shine (see table), and even the fourth quarter of last year, the performance of the Fund in the Philippines is also very prominent, and according to Lipper statistics to December 31, 2010 ending stocks, bonds, funds for the whole year and industry performance, the results of ASEAN Equity Fund outstanding, to seize the forefront.

billion population of Asean, and the five core countries of ASEAN ─ Singapore, Malaysia, Thailand, Indonesia and the Philippines together, the third largest economic power in Asia, the world's ninth largest. According to Nomura Securities research shows that a net inflow of overseas capital in 2000 less than $ 100,000,000 of ASEAN in 2008 to 10 billion U.S. dollars.

ASEAN in recent years positive for political reform and economic development, and the raw materials, some analysts pointed ASEAN the opportunity to become redundant manufacturing base for multinational companies to promote regional industrialization and domestic consumption.

outstanding performance in Indonesia last year, the recent flooding caused coal prices rose in Australia, Indonesia as the world's largest thermal coal exporter, benefited from and with the recent metal prices of raw materials such as copper, tin also have good performance will help the performance of related industries in Indonesia. Some analysts refer to the Indonesian stock market trades at 14.3 times, compared with other emerging markets is not cheap, but the rise of the middle class in Indonesia, the unemployment rate fell, the huge domestic demand and business opportunities worth noting.

Greater China Fund chasing behind

expert guiding

outstanding performance last year, ASEAN Fund, now entering will have a high risk of chasing? The fund industry have pointed out that ASEAN has been a wave of gains in capital growth momentum and domestic demand, supported by the stock market rose trends shaping this year remains positive.

Research Asset Management (RCM) that began in Asia in 2011 performed well in the first quarter is expected to continue to rally. AMTD Group Managing Director and Chief Executive Officer Zeng said that this year, investment in emerging markets is still the choice, but Indonesia, Thailand and other single country funds, the risk will be higher, watch the growth potential of the Middle East co-area, may wish to spread the risk, long-term investment ASEAN Fund.

not chase high-ASEAN investment funds

Fundsupermart Research Manager Huangzhan Wei believes that emerging markets this year, will continue to do well, but not high-ASEAN Fund for recovery, because the last year, Indonesia, Thailand, a notable increase in the stock market, is due to the inflow of foreign capital, foreign capital once the withdrawal will be difficult to sustain rally, and the stock market valuation is not attractive. And beginning in 2011, a very excellent performance last year from the Indonesian stock market highs, the Indonesian rupiah exchange rate down 1%.

Huang believes that in 2009 and 2010, investment in the ASEAN Fund investors may wish to make a first stop of this year may wish to switch to the Greater China Fund's arms.

flat stock market performance last year, Hong Kong, China Equity Fund underperformed, but Huang Zhanwei that this year is expected to recover in Greater China shares * backward, capture, Hong Kong and Taiwan with opportunities for growth, China and South Korea stock market were lower than the historical average price-earnings ratio, and Taiwan will benefit from the recovery in global technology stocks, combined with the normalization of cross-strait relations, Taiwan's economy is expected to bring additional highlights. Taiwan's stock market is expected to rise to 10,920 point level this year, particularly in technology stocks can be traced back behind the plate, and the Taiwan cross-strait economic cooperation framework agreement reached in order to create a beneficial cross-strait business environment is positive for Taiwan's tourism industry and stimulate the local consumer market. The Hong Kong stocks, the China Enterprises Index and Hang Seng Index rose see 16,280 points, respectively, and 29,500 points. A stock market, Huang Zhanwei forecast on the Shanghai Composite Index is expected to probe 3600. Huang Zhanwei that, First State Greater China Growth Fund rose 19.6% last year, he estimated the fund's gains this year, continuing to outperform.

JP Morgan Asset Management also believes that the Greater China market in 2011 is full of opportunities, Morgan Asset Management Chief Investment Officer of Greater China, said Wang Hao: Mainland stock valuation is reasonable, return on equity is higher than historical levels. MSCI China Index is expected this year, 11.9 times earnings, the CSI 300 index was 13.9 times.

Wang Hao pointed out that China's growth momentum has not changed, but the pace has slowed, the economic transformation of the domestic consumption, while China consumption growth rising wages will be positive. The stock valuations are at a reasonable level, return on equity is higher than historical levels, he believes consumer stocks, financial stocks and commodity stocks are investment opportunities, while new energy, health care sector is also worth noting. But he reminded the investment risk of non-performing loans and asset bubbles Although weakened, but still can not be ignored.

As for Hong Kong, Wang Hao benefit that easy monetary conditions in Hong Kong, Hong Kong dollar and U.S. dollar plus market and open economic policies, cheap money and capital inflows will continue to drive asset prices and economic growth. In addition, the rapid growth of China and offshore renminbi loans center development opportunities for Hong Kong banks.