GSF Lux SICAV

Asia Pacific Franchise

Latest NAV Price

26
27 November 2020

NAV daily change %

-0.23

Dealing currency

USD

Fund size

USD 53.39 M
30 October 2020

Latest NAV Price

26
27 November 2020

NAV daily change %

-0.23

Dealing currency

USD

Fund size

USD 53.39 M
30 October 2020

Objective

Investment objective summary

  • The Fund aims to provide long-term capital growth with the potential for income.
      • The Fund invests primarily in the shares of companies which are incorporated in and/or listed in, or derive a significant proportion of their revenue from, the Asia Pacific ex Japan region.
      • The Fund focuses investment on companies deemed by the Investment Manager to be of high quality i.e. companies which have provided sustainably high levels of return on invested capital and free cash flow (a company’s cash earnings after its capital expenditures have been accounted for) which are typically associated with strong brands or franchises.
      • The Fund may invest up to 20% of its value in mainland China.
      • The Fund may invest in other assets such as cash, other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Derivatives may be used for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.
      Charlie Dutton
      Portfolio Manager
      Charlie is a portfolio manager in Ninety One's Quality team. His focus is on global investments,...

      Performance & returns

      27/11/2020
      As the share class was launched less than 12 months ago, performance is not disclosed.

      Key facts & Downloads

      • Domicile

        Luxembourg
      • ISIN

        LU2093585060
      • Risk profile

        6
      • SEDOL

        BKKL3S1
      • CUSIP

        L46297542
      • Bloomberg code

        IAPQCUA 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

        28/02/2020
      • Minimum investment

        USD3,000
      • Valuation & transaction cut-off

        16:00 New York Time (forward pricing)

      Portfolio & Holdings

      Date as of 31/10/2020
      Index
      Fund
      China*
      41.2
      Hong Kong
      6.6
      Australia
      13.2
      South Korea
      11.3
      United States
      India
      7.8
      Taiwan
      12.1
      Netherlands
      Vietnam
      Finland
      Indonesia
      1.3
      Malaysia
      1.6
      New Zealand
      0.6
      Pakistan
      Philippines
      0.7
      Singapore
      2.0
      Thailand
      1.6
      Cash
      *Offshore and/or Mainland

      Charges

      Maximum initial charge %

      3.00

      Ongoing charge %

      3.02
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Concentrated portfolio

      The portfolio invests in a relatively small number of individual holdings. This may mean wider fluctuations in value than more broadly invested portfolios.

      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 the resulting value may decrease whilst portfolios more broadly invested might grow.

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, 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 as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      Morningstar Analyst rating™: Copyright © 2020. 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.