• INVESTMENT INVOLVES RISKS. The value of the Fund can be volatile and investors may not get back the amount originally invested. Past performance is not indicative of future results.
  • The Fund invests primarily in the equities of companies established and listed on a recognised exchange in Asia Pacific, excluding Japan.
  • The Fund’s investments are concentrated in the Asia Pacific brands (franchises). The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
  • The Fund is subject to risks, such as investment, equity securities, currency, emerging market risks and the risks associated with investments / exposure to RMB currency and/or Mainland China.
  • The Fund may invest in derivatives for hedging and/or efficient portfolio management purposes which may include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. Exposure to derivatives may lead to a high risk of significant loss by the Fund.
  • In adverse situations, the Fund may suffer significant losses. It is possible that the original amount you invested could be lost.
  • Investors should not solely rely on this document to make investment decisions. Offering documents should be read for further details, including the risk factors.
GSF Lux SICAV

Asia Pacific Franchise

Morningstar Rating™

4

Latest NAV Price

24.0000
17 January 2022

NAV daily change %

0.42

Dealing currency

USD

Fund size

USD 77.44 M
31 December 2021

Latest NAV Price

24.0000
17 January 2022

NAV daily change %

0.42

Dealing currency

USD

Fund size

USD 77.44 M
31 December 2021

Objective

Investment objective summary

The Fund aims to achieve long-term capital growth and potential for income primarily through investment in equities of companies established and listed on a recognised exchange in Asia Pacific, excluding Japan. The Fund may invest in the markets of Australia, Hong Kong, Singapore, Malaysia, Thailand, Taiwan, South Korea, the Philippines, Indonesia, China, India, New Zealand and other Asia Pacific markets (excluding Japan).

Charlie Dutton
Portfolio Manager, Asia Pacific Franchise
Charlie is a portfolio manager in Ninety One's Quality team. His focus is on global investments,...

Performance & returns

The value of investments, and any income generated from them, can fall as well as rise. Past performance information is not indicative of future performance. Investors may not get back the full amount invested.

The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested.

These figures show by how much the share class increased or decreased in value during the calendar year/performance periods being shown. Performance data has been calculated in share class currency, including ongoing charges and excluding subscription fee (initial charge) and redemption fee (if any) you might have to pay. If the currency shown differs from your home currency, returns may increase or decrease as a result of currency fluctuations. We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

Where no past performance is shown there was insufficient data available in that year to provide performance.

No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Please refer to the “Key facts & Downloads” section below for the benchmark name and the inception date of the Fund and the share class.

Key facts

  • Domicile

    Luxembourg
  • ISIN

    LU1734074757
  • Bloomberg code

    IAPQIAU LX
  • Benchmark

    MSCI AC Asia Pacific ex Japan Net Return
  • Morningstar category sector

    Asia-Pacific ex-Japan Equity
  • Fund inception date

    23/01/2018
  • Share class inception date

    23/01/2018
  • Minimum investment

    USD1,000,000 / equivalent approved currency
  • Valuation point

    16:00 New York Time (forward pricing)

Portfolio & Holdings

Date as of 30/11/2021
Index
Fund
China*
33.0
Emerging Markets
76.7
Far East ex Japan
23.3
Australia
14.4
South Korea
11.8
United States
Europe ex UK
Taiwan
15.2
Hong Kong
6.1
India
11.7
United States
Netherlands
Vietnam
Indonesia
1.4
Malaysia
1.3
New Zealand
0.5
Philippines
0.7
Singapore
2.4
Thailand
1.6
Cash and near cash
Cash and near cash
*Offshore and/or Mainland

Charges

Maximum initial charge %

5.00

Annual management fee %

0.75

The comparative index may vary. As such the performances of the “composite” comparative index may consist of a combination of the old comparative index prior to the change and the current comparative index post the change.

Investment involves risks. Past performance figures shown are not indicative of future performance.  Investors should read the offering documents of the fund for details, including the risk factors. This document and the company’s website have not been reviewed by the SFC. Issuer: Ninety One Hong Kong Limited.

Dividend is not guaranteed. The fund aims to make dividend payment to investors on a/an monthly/quarterly/semi-annually/annually basis. The Inc-2 and Inc-3 share classes may distribute dividends out of / effectively out of its capital. With regards to Inc-2 and Inc-3 share classes, the Board of Directors may at its discretion pay dividend out of gross income while charging all or part of the share class’s fees and expenses to the capital of the share class, resulting in an increase in distributable income for the payment of dividends by the share class and therefore, the share class may effectively pay dividend out of capital. Payment of dividends out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of the Sub-Fund’s capital or effectively out of the Sub-Fund’s capital may result in an immediate reduction of the net asset value per Share

Performances based on NAV to NAV, with dividend reinvested in share class currency. The investment returns are denominated in share class currency, which may be a foreign currency. If investment returns are not denominated in HKD/USD, US/HK dollar-based investors are exposed to exchange rate fluctuations.

10 year calendar performance: The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much each share class increased or decreased in value during the calendar year being shown. Performance data has been calculated in share class currency, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance.

Other non-specified information referred to above, source: Ninety One.

The share class aims to make distribution as per the distribution frequency stated.
Annualised Yield = Distribution per share / Record date NAV x Distribution frequency x 100%.

Morningstar Ratings based on the above share class only.

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 share classes 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.

Past performance figures shown are not indicative of future performance. Investors are reminded that investment involves risk. Investors should refer to the offering documents for details, including risk factors. This website has not been reviewed by the SFC. 

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Please note that the global website is not intended to target Hong Kong investors. It has not been reviewed by the Hong Kong Securities and Futures Commission (“SFC”). The website may contain information on funds and other investments products that are not authorised by the SFC and therefore are not available to retail investors in Hong Kong. The website may also contain information on investment services / strategies that are purported to be carried out by a Ninety One group company outside of Hong Kong.

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Issuer: Ninety One Hong Kong Limited
Email: [email protected] 
Telephone: (852) 2861 6888 
Fax: (852) 2861 6861