S&P Fund Services assigns rating to Atlantis Asian Fund
Standard & Poor's Fund Services announced that it has assigned an A fund management rating to the Atlantis Asian Fund.
Launched in November 1999, this long-only Asia ex-Japan equities fund has been managed by Singapore-based Joseph Wat since April 2009. Wat has 16 years' investment experience including time at Invesco AM and Deutsche AM. He is supported by an analyst who has five years' investment experience and is considering the recruitment of a further analyst. In addition, Wat is able to draw on the China team of six, based in Shanghai and Hong Kong, for research on China stocks.
The approach is appropriate given the limited resources and combines a thematic approach with bottom-up stock selection. Screening by P/B and P/E ratios also reduces the universe of potential ideas to around 100. Stocks are then researched, focusing on undervalued companies with a clear catalyst for undiscounted change.
"Wat's track record on this unconstrained fund is impressive, outperfoming the MSCI Far-East ex-Japan Index by 31% since April 2009. His track record in managing a Deutsche Bank segregated mandate from 2004-07 is 16% outperformance (with a 3% tracking error), while his performance in running the Invesco GT Asean Fund was in line with the MSCI Index. Despite the limited resources, Wat shows flair in managing the fund and that, combined with his track record, results in the fund achieving an S&P A fund management rating," said Guy Boden, lead analyst, S&P Fund Services.
Roger Mortimer, Business Development Manager at Atlantis, commented: "We are delighted that the superb performance of the Atlantis Asian Fund since Joseph Wat took over as Fund Adviser has been recognised by S&P Fund Services. Wat takes a thematic approach which often leads him to invest in unloved sectors where he sees the potential for significant growth. He also focuses on under-valued companies where he sees a catalyst for change within 6-12 months. This process has resulted in the Atlantis Asian Fund being among the top performers in its peer group and we are very excited about the prospects for this Fund."