• The Fund invests in companies contributing to positive environmental change through sustainable decarbonisation to achieve total returns comprised of capital growth and income over long-term.
  • The Fund is subject to Green/ESG investment policy risk such as lack of standardized taxonomy, subjective judgment in investment selection, reliance on third party providers and style drift.
  • The Fund is subject to environment sector risk, risk associated with equity securities, currency risk and concentration risk.
  • The Fund is subject to currency hedged share class risk and currency conversion risk for Renminbi denominated share classes.
  • The Fund may use derivatives for the purposes of hedging and/or efficient portfolio management. Investments in derivatives involve additional risks. The Fund’s use of derivatives may become ineffective in hedging and/or in efficient portfolio management and the Fund may suffer significant losses.
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.
    • GSF Lux SICAV

    Global Environment

    Capturing the decarbonisation growth opportunity

    Fund highlights

    • Investing in companies that are driving the low carbon transition
      The flow of capital into decarbonisation represents a multi-year structural growth opportunity

    • Bespoke universe unleashing growth potential
      A proprietary investment process which currently seeks opportunities in the renewable energy, electrification and resource efficiency sectors

    • The Fund is an SFC-authorised ESG fund
      The Fund will seek to invest at least 70% of its net asset value in companies which are considered as contributing to positive environmental change through sustainable decarbonisation.

    • Managed by an experienced team committed to environmental change
      The team has the specialist skillsets and deep knowledge of the moves toward decarbonization.

    SFC authorization is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance. It does not mean the product is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. The list of ESG funds does not constitute an official recommendation of these products or a guarantee of their ESG attributes or related performance by SFC.

    Objective

    Investment objective summary

    The Fund aims to achieve total returns comprised of capital growth and income over long-term. The Fund’s environmental objective is to make sustainable investments that aim to contribute to positive environmental impact. It does this by investing in accordance with its investment policy in companies which are considered by the Investment Manager as contributing to positive environmental change through sustainable decarbonisation.

    Fund feature

    • Invests in companies enabling the transition to a low-carbon world
    Deirdre Cooper
    Portfolio Manager
    Deirdre is Head of Sustainable Equity at Ninety One. Deirdre is a leading voice in understanding...
    Graeme Baker
    Portfolio Manager
    Graeme is a portfolio manager in the Sustainable Equity team at Ninety One. Graeme is co-portfolio...

    Performance & returns

    The performance of years prior to 2022 was achieved under circumstances that may no longer apply. On 13 June 2022, the investment policy of the Fund was changed. On 8 October 2021, Ninety One Global Strategy Fund -Global Energy Fund was merged into the Fund.

    Literature

    Portfolio & Holdings

    Date as of 31/08/2026
    Index
    Fund
    United States
    63.6
    Europe ex UK
    10.9
    China
    2.4
    Emerging Markets
    9.3
    United Kingdom
    3.1
    Japan
    5.1
    Far East ex Japan
    2.3
    Other
    3.3
    Cash

    Certain of the SFC authorised funds within the GSF range are categorised as funds promoting environmental and/or social characteristics within the meaning of Article 8 of Regulation (EU) 2019/2088 on Sustainability-related Disclosures in the Financial Services Sector. For the avoidance of doubt, these SFC authorised funds are not environmental, social and governance funds in Hong Kong.

    SFC authorization is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance. It does not mean the product is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.

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

    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 Morningstar rating for funds, please see the attached guide. The guide is a third party-document and is for informational purpose only. We do not endorse or guarantee the accuracy of the information provided in this third-party document and we are not responsible for any consequences resulting from the use of the information contained in the 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. 

    By clicking on the hyperlink of Investor relations below, you are leaving this website with information specific for retail investors in Hong Kong and entering the global website.

    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.

    Any product documents and information contained in this website are for reference only and for those persons or entities in any jurisdictions or country where the information and use thereof is not contrary to local law or regulation.

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