GSF Lux SICAV

All China Equity

Morningstar Rating™

3
EI
ESG Integration

Latest NAV Price

84.5900
29 March 2023

NAV daily change %

1.70

Dealing currency

HKD

Fund size

HKD 4.63 B
28 February 2023

Latest NAV Price

84.5900
29 March 2023

NAV daily change %

1.70

Dealing currency

HKD

Fund size

HKD 4.63 B
28 February 2023

Objective

Investment objective summary

  • The Fund aims to provide long term capital growth primarily through investment in equities or equity-related securities issued by Chinese Companies.
Greg Kuhnert
Portfolio Manager
Greg is a co-head of the 4Factor team at Ninety One. He is the portfolio manager...
Wenchang Ma
Co-Portfolio Manager, All China Equity
Wenchang is co-portfolio manager for the All China Equity Strategy in the 4Factor team at Ninety...

Performance & returns

Key facts

  • Domicile

    Luxembourg
  • ISIN

    LU1719994722
  • Risk profile

    5
  • SEDOL

    BF18R73
  • CUSIP

    L46288665
  • Bloomberg code

    IGSACAA LX
  • Benchmark

    MSCI China All Shares Net Return (MSCI All China Net Return pre 31/10/2019)
  • Morningstar category sector

    China Equity
  • Fund inception date

    19/05/2015
  • Share class inception date

    24/11/2017
  • Minimum investment

    USD3,000 / equivalent approved currency
  • Valuation point

    16:00 New York Time (forward pricing)
  • Ninety One Sustainability Classification

    ESG Integration

Portfolio & Holdings

Date as of 28/02/2023
Index
Fund
Consumer Discretionary
19.5
Communication Services
11.6
Financials
16.3
Consumer Staples
9.8
Materials
7.5
Industrials
9.9
Information Technology
9.5
Utilities
2.9
Real Estate
2.7
Health Care
7.3
Unclassified
0.3
Other
2.7
Cash

Charges

Maximum initial charge %

5.00

Ongoing charge %

1.98
The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

Specific fund risks

Currency exchange

Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

Derivatives

The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

Emerging market (inc. China)

These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

Equity investment

The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

Geographic / Sector

Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean that, in certain market conditions, the value of the portfolio may decrease whilst more broadly-invested portfolios might grow.

All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. We are not acting and do not purport to act in any way as an adviser or in a fiduciary capacity. No one should act upon such information or opinion without appropriate professional advice after a thorough examination of a particular situation. We endeavour to provide accurate and timely information but we make no representation or warranty, express or implied, with respect to the correctness, accuracy or completeness of the information and opinions. We do not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Any representation or opinion is provided for information purposes only. The prospectus of this fund may be acquired free of charge, from Ninety One Fund Managers Botswana (Pty) Ltd, Unit 5, Plot 64511, Fairgrounds, Gaborone, Botswana.

The value of this investment may go down as well as up and the return on the investment will therefore necessarily be variable. Neither past experience nor the current situation are necessarily accurate guides to the future. Ninety One Fund Managers Botswana (Pty) Ltd is regulated by the Non-Bank Financial Institutions Regulatory Authority. The TER shows the percentage of the average Net Asset Value of the portfolio that was incurred as charges, levies and fees relating to the management of the portfolio. A higher TER ratio does not necessarily imply poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of the future TERs.

Offshore funds are sub-funds in the Ninety One Global Strategy Fund, 49 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg.

Performance data source: © Morningstar.
BT unit trust: NAV to NAV net of fees with income reinvested.
GSF funds: NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included.

Morningstar Analyst rating™: Copyright © 2022. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

For an explanation of statistical terms, please see our glossary.