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Key Facts
ISIN IE0030351732
NAV: 62.20 EUR
NAV DATE: 14-May-2024
YTD PERF: 7.8%
YTD PERF. DATE: 30-Apr-2024
Total Net Assets (all classes, m) 111.2 EUR
Number of holdings 34
Weight of top 10 stocks 53.4%
Share Class Currency EUR
SFDR Article 6
RISK INDICATOR
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This indicator represents the Fund’s risk level set out in the Key Information Document. It is not guaranteed and may change during the month.
Investment Policy
A Sub-Fund of Comgest Growth plc.
The objective of the Sub-Fund ("the Fund") is to increase the value of the Fund (capital appreciation) over the long term. The Fund intends to achieve this objective through investment in a portfolio of high-quality, long-term growth companies. The Fund will invest at least two-thirds of its assets in securities issued by companies listed or traded on Asian or world regulated markets that have their headquarters in, or principally carry out their activities in China.
The Fund is actively managed. The index is provided for comparative purposes only.
The Fund is aimed at investors with a long-term investment horizon (typically 5 years or more).
Main Risks
This fund has the following core inherent risks (non-exhaustive list):
• Investing involves risk including possible loss of principal,
• The value of all investments and the income derived therefrom can decrease as well as increase,
• There is no assurance that the investment objective of the fund will be achieved,
• When a Share Class is denominated in a currency that is different from yours, changes in exchange rates can negatively impact both the value of your investment and the level of income received.
A more detailed description of the risk factors that apply to the fund is set out in the Prospectus.
PERFORMANCE & HOLDINGS As of 30-Apr-2024
CUMULATIVE PAST PERFORMANCE
Cumulative returns shown are monthly returns calculated on the last business day of each month.
Index: MSCI China - Net Return. The index is used for comparative purposes only and the fund does not seek to replicate the index.
Please note that performance is rebased to 100.
For additional information on the index and the fund’s inception date, please refer to the monthly report below.
Calendar Past Performance
This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years compared to the index.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past and compare it to the index. For the avoidance of doubt, the fund is actively managed. The index performance is provided for comparative and information purposes only.
Performance is shown after the deduction of ongoing charges. Any applicable entry and exit charges are excluded from the calculation. This share class came into existence in 2001. Past performance has been calculated in EUR.
Rolling Net (%)
| Annualised | |||||||
|---|---|---|---|---|---|---|---|
| QTD | YTD | 1Y | 3Y | 5Y | 10Y | Inception | |
| Fund | 6.6 | 7.8 | -6.3 | -13.3 | -4.7 | 6.3 | 8.0 |
| Index | 7.7 | 7.7 | -3.7 | -14.2 | -4.6 | 4.1 | 4.0 |
Rolling Volatility (%)
| Annualised | ||||
|---|---|---|---|---|
| 1Y | 3Y | 5Y | 10Y | |
| Fund | 19.8 | 22.9 | 21.8 | 20.0 |
| Index | 21.8 | 26.1 | 24.5 | 22.2 |
Calendar Year Past Performance (%)
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 33.7 | 14.2 | 9.9 | 29.1 | -17.3 | 26.7 | 14.9 | -12.0 | -14.7 | -16.2 |
| Index | 22.7 | 3.1 | 8.6 | 26.3 | -14.8 | 25.7 | 18.8 | -15.8 | -16.8 | -14.2 |
Annual Performance (%) As At Quarter End
| Q1 2019 -Q1 2020 |
Q1 2020 -Q1 2021 |
Q1 2021 -Q1 2022 |
Q1 2022 -Q1 2023 |
Q1 2023 -Q1 2024 |
|
|---|---|---|---|---|---|
| Fund | -11.0 | 39.9 | -27.6 | 1.1 | -17.7 |
| Index | -3.6 | 34.1 | -28.7 | -2.4 | -16.6 |
Index: MSCI China - Net Return. The index is used for comparative purposes only and the fund does not seek to replicate the index.
For additional information on the index and the fund’s inception date, please refer to the monthly report below.
Past performance does not predict future returns.
Performance figures are calculated net of investment management fees, administrative fees and all other fees with the exception of sales charges. If taken into account, sales charges would have a negative impact on performance.
TOP 5 HOLDINGS
| Company Name | Weight (%) |
|---|---|
| Tencent Holdings | 9.2 |
| Trip.com Group | 5.8 |
| ANTA Sports Products | 5.8 |
| Inner Mongolia Yili Indl A | 5.8 |
| Man Wah Holdings | 4.8 |
The above equity exposures are provided for information only, are subject to change and are not a recommendation to buy or sell the securities.
Past performance does not predict future returns.
Breakdowns based on Comgest data, GICS sector and MSCI country classifications.
Past performance does not predict future returns.
1Y
5Y
| May-2023 | Jun-2023 | Jul-2023 | Aug-2023 | Sep-2023 | Oct-2023 | Dec-2023 | Jan-2024 | Feb-2024 | Mar-2024 | Apr-2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Favourable performance scenario | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % | 79.6 % |
| Moderate performance scenario | 11.6 % | 11.6 % | 11.5 % | 11.4 % | 10.6 % | 10.3 % | 9.4 % | 9.4 % | 5.9 % | 4.8 % | 4.4 % |
| Unfavourable performane scenario | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % | -32.5 % |
| Stressed performance scenario | -75.2 % | -75.2 % | -75.2 % | -75.2 % | -75.1 % | -75.1 % | -75.2 % | -75.2 % | -75.2 % | -75.2 % | -75.2 % |
| May-2023 | Jun-2023 | Jul-2023 | Aug-2023 | Sep-2023 | Oct-2023 | Dec-2023 | Jan-2024 | Feb-2024 | Mar-2024 | Apr-2024 | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Favourable performance scenario | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | 18.7 % | ||||||||||||||||||||||
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| Moderate performance scenario | 10.3 % | 8.4 % | 8.4 % | 8.3 % | 7.5 % | 7.2 % | 6.7 % | 6.5 % | 6.0 % | 5.7 % | 5.2 % | ||||||||||||||||||||||
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| Unfavourable performane scenario | -8.5 % | -8.1 % | -6.6 % | -8.0 % | -8.4 % | -8.9 % | -10.0 % | -11.7 % | -10.0 % | -9.8 % | -8.7 % | ||||||||||||||||||||||
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| Stressed performance scenario | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % | -27.1 % |
What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product and/or, in case of insufficient track record, a comparable share class or benchmark, over the last 10 years. The scenarios shown are illustrations based on results from the past and on certain assumptions.
The scenarios presented are an estimate of future performance based on evidence from the past on how the value of this investment varies, and are not an exact indicator. What you will get will vary depending on how the market performs and how long you keep the product. The figures do not take into account your personal tax situation, which may also affect how much you get back.
The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
The stress scenario shows what you might get back in extreme market circumstances.
INVESTMENT TEAM
VIEW FULL TEAM
Jasmine Kang joined Comgest in 2014 and is a Hong Kong-based Analyst and Portfolio Manager specialising in Greater China equities as well as a non-executive member of the Board of Partners and a Managing Director of Comgest Far East Limited.
Jasmine co-manages Comgest’s China strategy. Before joining Comgest, she worked at China Everbright Asset Management as Investment Director responsible for China onshore and offshore equity research and investment. Jasmine began her career in 2005 at BNP Paribas Investment Partners where she focused on Asian equities as a research analyst and portfolio manager.
A native Mandarin speaker, Jasmine has a Master’s degree in International Economics from Shanghai University of Finance and Economics and completed Harvard Business School’s Senior Executive Leadership Program. She is a CFA® charterholder.
Baijing Yu joined Comgest in 2011 and is a Hong Kong-based Analyst and Portfolio Manager specialising in Greater China equities.
Baijing was named co-lead of the China strategy in 2014. A native Mandarin speaker, she started her career in 2007 as an investment banking Analyst of the TMT sector at the Royal Bank of Scotland in New York and then Hong Kong, where she covered global private equity firms in the Asia Pacific region. In 2010 she joined Bank of America Merrill Lynch as a senior Analyst, then Associate, covering the Asia TMT sector.
Baijing holds a Bachelor’s degree in Economics from the University of Michigan (Ann Arbor).
Jimmy Chen joined Comgest in 2017 and is a Hong Kong-based Analyst and Portfolio Manager specialising in Greater China equities.
Prior to joining the firm, Jimmy worked for Sanford C. Bernstein as a Senior Research Associate specialised in Asia-Pacific regional telecoms. He previously spent five years as a consultant with Bain & Company working with clients across various industries (ranging from consumer to industrial) and was based in Australia (2 years) and China (3 years).
Jimmy is fluent in Mandarin, obtained a Bachelors of Commerce & Law (with Honours) from the University of New South Wales, Sydney, Australia and is a CFA® charterholder.
Investment Team listed above may include advisors from affiliates within the Comgest Group.
Details
| Investment Manager | Comgest Asset Management International Limited |
|---|---|
| Sub Investment Manager | Comgest Far East Limited |
| Management company | None / Comgest Growth plc is self-managed |
| Fund Name | COMGEST GROWTH CHINA |
| Share Class | COMGEST GROWTH CHINA EUR ACC |
| ISIN Code | IE0030351732 |
| Bloomberg Code | CRMGGCH ID |
| Sedol Code | Null |
| Share Class Currency | EUR |
| Fund Base Currency | EUR |
| Share Class Distribution Policy | Accumulation |
|---|---|
| Hedged | No |
| UCITS | Yes |
| Share Class Inception Date | 11-Apr-2001 |
| Fund Domicile | IRELAND |
| Investment Management Fee | 1.50% |
| Ongoing charges | 1.62% |
| Maximum entry fee | 4.00% |
Documents
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Our thinking
Chinese Equities - A chinese point of view
