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Top performing funds in Q1

Citywire Asia presents the top five performing funds in the first quarter of 2018

The first quarter of 2018 has been a tumultuous season for global markets with funds struggling to hold on to their previous gains.  In this gallery, we highlight funds that have posted the strongest gains in Q1 this year. Fund performance is measured by total returns in USD terms and analysis is based on funds that are available for sale in Singapore and/or Hong Kong.

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The first quarter of 2018 has been a tumultuous season for global markets with funds struggling to hold on to their previous gains.  In this gallery, we highlight funds that have posted the strongest gains in Q1 this year. Fund performance is measured by total returns in USD terms and analysis is based on funds that are available for sale in Singapore and/or Hong Kong.

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Citywire AAA-rated Bruno Crastes has been managing the H2O Multibonds fund since its inception in August 2010. Under his watch, the fund delivered excess returns of 11.9 percentage points over three months to end March 2018. Despite outperforming the benchmark, the fund saw net outflows of $16.5 million in the first quarter and ended March with assets under management of $2.2 billion (EUR 1.9 billion).

 Crastes has been a AAA-rated manager since November 2017.

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Though the LionGlobal Vietnam fund returned 15.5% over the first quarter this year, it had in fact underperformed the FTSE Vietnam index by 3.7 percentage points.

 According to the fund manager's commentary, the underperformance was attributed to the fund's overweight position in Mobile World Investment and underweight position in Masan Group. The stocks have weightings of 7.5% and 6.4% in the portfolio respectively as of end March 2018.

The fund is managed by AA-rated Kok Fook Meng who has been overseeing the fund since September 2012.

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Vietnam's stock index surged 18.8% (in USD terms) over 3 months to end March and was Asia's best performing equity market in the first quarter this year. While the Fullerton Vietnam fund benefitted from the stock rally, the fund lagged the index by 3.0 percentage points in the first quarter.

The fund is only open to accredited investors and had assets under management of $19.2 million at end March this year.

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While funds in the Chinese Yuan bond sector delivered average returns of 1.8% in the first quarter, Da Cheng China RMB fixed income fund outshined its peers with total returns of 19.3%.

The fund was launched in February 2012 with A-rated Lam Chun-Fai at the helm since June 2016. Lam is also managing the Da Cheng China Balanced fund concurrently.

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Of the three Vietnamese funds in this gallery, JP Morgan Vietnamese Opportunities fund is the only one that has outperformed its benchmark. The fund returned 21.9% against the benchmark's 19.2% in USD terms over 3 months to end March. Financials, consumer staples and real estate sectors form the bulk of the portfolio with weightings of 25.9%, 22.9%, 16.3% respectively.

The fund is co-managed by AAA-rated managers Chang Qi Ong and Isaac Thong.

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