In Asia, solo managers – and all-women teams – are still hard to come by, and so women’s representation in portfolio management has mostly been through mixed-gender teams. With funds for sale in Hong Kong, Singapore and Taiwan (and subsets of the three), women make up less than a fifth of the total universe.
Despite this under-representation, the results for female portfolio managers speak for themselves.
On the occasion of International Women’s Day, we decided to feature some extraordinary female managers. These seven female portfolio managers rated “High” or “Over Average People” by Morningstar analysts in the region. You are either a sole manager or a senior manager on a mixed gender team managing at least one top tier medal fund distributed in the region.
The best female fund managers in Asia
Three of the women on the list earn the top “High” rating on the People Pillar:
- Joanna Kwok (JP Morgan Asset Management);
- Pauline Ng (JP Morgan Asset Management);
- Louisa Lo (Schroders).
Joanna Kwok, JP Morgan Wealth Management
With her consistently proven deep expertise in Asian small caps and her passion for investing, Joanna Kwok has achieved an outstanding long-term track record that few peers can match. Analysts consider her one of the most impressive managers in the Asia ex-Japan small-cap investing industry.
Kwok took over the lead manager role from Gold-Rated JPMorgan Smaller Asian companies in April 2013, which followed a proven and well-codified investment approach. She also co-manages the bronze-rated JPMorgan Asia Growth with Mark Davids.
“Kwok has delivered impressive long-term results, outperforming the MSCI All Country Asia ex Japan Small Cap Index by a substantial margin and has ranked in the top quintile among peers over her tenure. While the strategy struggled in 2022 as its growth direction faced significant stylistic headwinds and some of its IT holdings were impacted by the cyclical correction in the industry. We remain confident that Kwok’s ability to invest and adherence to a proven investment approach can add value over the long term.”
Samuel Lo, Senior Manager Research Analyst at Morningstar
Pauline Ng, JP Morgan Wealth Management
Another standout manager from JP Morgan Asset Management is also making the cut. Pauline Ng is an expert on ASEAN equities.
At the top of the silver rated JPMorgan ASEAN fund, Ng receives a high People and Process Rating. She is closely supported by her five-strong ASEAN team and among them are Desmond Loh, Stacey Neo and Chang Qi Ong the co-managers here.
“We continue to value JPMorgan ASEAN’s strong management team and well-codified approach.
Hunter Beaudoin, Associate Manager Research Analyst at Morningstar
Louisa Lo, Schroders
With nearly three decades of investment experience, Louisa Lo, an established Greater China expert, receives the highest rating on the People Pillar in the highest overall analyst rating of gold across three strategies, namely Schroder ISF China Opps, Emerging Asia and Greater China. She is also the lead manager for silver rated Schroder ISF Taiwanese Equity.
Lo has consistently impressed Morningstar’s manager research team with clearly articulated market and stock insights. Lo has had excellent returns from all of her strategies. It beats its peers with the clean share classes of the three gold-rated strategies based on medium- and long-term performance.
“While keeping an eye on the stability of the team, the strong portfolio manager bank and robust investment framework have helped weather variance and maintain research quality.”
Claire Liang, Senior Research Analyst
Other top women managers in Asia
The other four managers on the list have People Pillar ratings of Over Average:
- Flavia Cheong (abrdn);
- Sophia Li (FSSA Investment Manager);
- Elizabeth Soon (Pinebridge Investments);
- Anh Lu (T.Rowe Price).
Flavia Cheong, abbreviated
Flavia Cheong is an executive at the UK-headquartered firm, leading equity investments in Asia Pacific. For abrdn Asia Pacific Sust Eq Ashe manages it together with four other managers.
“The pod is backed by a large and experienced Asia Pacific equities team of 45 members across eight locations and is one of the largest teams in the industry. The team has undergone several changes over the past few years, including the creation of the pod structure in 2019; the industry discussion groups; and revising the compensation structure to tie it more closely to performance.”
Samuel Lo, Senior Manager Research Analyst at Morningstar
Sophia Li, FSSA Investment Manager
Sophia Li is a senior manager at the FSSA Japan Equity Strategy, along with two co-managers, investment veterans Martin Lau and Richard Jones.
“Li has managed this strategy since its inception in 2015 and has demonstrated her investment prowess by delivering solid results over the years and consistently delivering solid investment insights. She has managed Japanese equities since 2010, along with co-manager Martin Lau, a highly respected She is well acquainted with FSSA’s quality investment philosophy, having started her career with the firm in 2009.”
Samuel Lo, Senior Manager Research Analyst at Morningstar
Elizabeth Soon, Pinebridge Investments
Elizabeth Soon has 33 years’ investment experience. Your PineBridge Asia exJapan SmCap Eq is looking for quality growth companies with reasonable valuations.
“Soon is actively involved in the research process and has consistently demonstrated a good understanding of the portfolio at our meetings. She works closely with the Asia ex Japan equities team of 24, who have 15 years of industry experience and eight years with the firm during the strategy Continued to benefit from the presence of Soon, who has an impressive track record during her tenure, the strategy’s capacity issue has held back our belief in this small-cap offering.”
Samuel Lo, Senior Manager Research Analyst at Morningstar
Anh Lu, T Rowe Price
Anh Lu’s skill and drive are evident in her consistent outperformance throughout her 27-year investing career. “Anh Lu is a long-standing and experienced portfolio manager. She brings 27 years of experience and has led this strategy since June 2009. We believe she is an able investor who has made solid investment arguments at our meetings and built the portfolio in a thoughtful manner.”
Claire Liang, Senior Research Analyst
