An interesting email received a few days ago - from James Anderson, an astute international investor - mentioned that for global fund managers, BRIC (Brazil, Russia, China, India) has become yesterday’s news.
The new block on their investment radar is CAASH (Canada, Argentina, Australia, Singapore, Hong Kong). How does the one year closing chart of the Sensex (in green) compare with charts of the CAASH indices (in blue)? Have a look.
Canada (TSX Composite) vs. Sensex
In the past 12 month, Canada’s TSX Composite index barely managed to eke out positive returns. After lagging behind in Dec ‘11 and Jan ‘12, Sensex has handily outperformed TSX Composite by 15%.
Argentina (MERVAL) vs. Sensex
Argentina’s MERVAL index outperformed Sensex during Jan ‘12, but drifted down to provide negative returns during the past year. Sensex outperformed MERVAL by 20%.
Australia (All Ordinaries) vs. Sensex
Australia’s All Ordinaries index managed 5% returns during the past 12 months. Except during Dec ‘11, Jan ‘12 and May ‘12, Sensex outperformed All Ordinaries.
Singapore (Straits Times) vs. Sensex
After underperforming Singapore’s Straits Times index for most of the year, Sensex managed to edge ahead since Nov ‘12.
Hong Kong (Hang Seng) vs. Sensex
Hong Kong’s Hang Seng index is the only one among the CAASH block that has outperformed Sensex during the past 12 months – except for brief spells in Jul ‘12, Sep ‘12 and Oct ‘12.
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