Die besten Asia Pacific ex Japan Aktienfonds

e-fundresearch: "Which are the most important factors currently when you assess Asia ex Japan equities?"

Angus Tulloch & Alistair Thompson, Fund Manager, "First State Asia Pacific Leaders Fund" (06.10.2011): "As we believe that earnings expectations are too optimistic, we prefer to position our portfolios defensively. We continue to see the best value in companies with pricing power to maintain profitability, strong sustainable cash flows and growing dividend yields."

Projit Chatterjee, Equity Strategist, "UBS (Lux) Eq Fd - Asia Opportunity (USD) P-acc" (05.10.2011): "We are focused on stock selection. We favour companies with differentiated competitive strengths which can deliver robust returns on capital over the cycle. We look for companies that are attractively valued from a mid-long term perspective. Our continuous endeavour is to find stocks that are mis-priced in the market."

e-fundresearch: "Which are the most important elements in your investment process?"

Angus Tulloch & Alistair Thompson, Fund Manager, "First State Asia Pacific Leaders Fund" (06.10.2011): "When considering individual companies we have strict quality criteria in terms of business franchise, management and financial structure."

Projit Chatterjee, Equity Strategist, "UBS (Lux) Eq Fd - Asia Opportunity (USD) P-acc" (05.10.2011): "At the core of our investment process is the continuous effort to determine intrinsic value. We emphasise long-term fundamental research performed by our internal investment specialists. Bottom-up stock research dominates our investment approach. Research analysts conduct extensive fundamental research visiting not only the companies that they are researching but also competitors, suppliers and non-conventional sources of information (industry executives, consultants, academics). Using this information, analysts build and maintain forward-looking models for each company with standardised inputs to our Global Equity Valuation System (GEVS). Future cash flows are then forecast for each company and discounted to the present. This estimate of future free cash flow is then compared with the current price to ascertain the size of the valuation anomaly. This valuation anomaly is expressed as an expected return (alpha). In addition to quantitative inputs, our analysts also assess the company’s management, strategy and position within its industry.