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ASI ASIA PACIFIC & JAPAN EQUITY A

ASI ASIA PACIFIC & JAPAN EQUITY A - Overview

Overview of ASI ASIA PACIFIC & JAPAN EQUITY A Buy in ISA Buy in Investment Account

The fund aims to achieve long term capital growth by investing in companies that are based or carry out a significant portion of their activities in the Asia Pacific region including Japan. The portfolio is run by the experienced Aberdeen Asian Equities team. The fund has bias to good quality companies with strong balance sheets and rigourous corporate governance practices. Japan has been a structural underweight for some time.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector Asia Pacific Including Japan
Structure OEIC
Launched April, 2006
Size £125m
Yield 0.2%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.75%
Ongoing charges figure 1.92%

Risks

Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Information Investor Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

No information available.

Portfolio

Allocation Proportion(%)
Equity 99
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 1
Allocation Proportion(%)
UK 8
Europe 0
North America 1
Japan 25
Pacific 42
Emerging Markets 24
Allocation Proportion(%)
Large Caps 96
Mid Caps 2
Small Caps 2
View all performance data for this fund

Investment process

Simplicity and clarity are the two guiding elements behind the team-based investment process. The manager and the team follow a long-term team-based approach, picking believed-to-be best companies in each sector. The team does many site visits, regularly meets management and does rigourous due-diligence work. The aim is to find new high quality regional companies with strong financials, robust corporate governance policies, treating minority shareholders well. The team must reach a consensus before a stock is included into a portfolio. Turnover at 10-15% p.a. has been low throughout most of the fund’s life, consisting mainly of topping and tailing, with very few names entering and leaving the portfolio. The solid team of over 40 investment professionals across six locations (Singapore, Sydney, Bangkok, Kuala Lumpur, Hong Kong and Tokyo) has Hugh Young as Head of Asian Equities. The entire team strictly adheres to the process, and Young has made sure that the team-based process developed over many years ensures continuity. The latter is one of the key strengths in relation to this and other funds managed by the team.

Live feed

Bid price(inc) 248.23p
Accum units 248.23p
Fund commentary 19/12/14
Fund data updated on 16/08/19

Asset allocation

Allocation Proportion(%)
Equity 99
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 1

Equity Geographic

Allocation Proportion(%)
UK 8
Europe 0
North America 1
Japan 25
Pacific 42
Emerging Markets 24

Equity Capitalisation

Allocation Propor
tion(%)
Large Caps 96
Mid Caps 2
Small Caps 2

Top 10 holdings

As at: 30/04/2019
5.9% Aberdeen Standard Sicav I -China A Share Equity Fund
4.3% Aberdeen Standard Asia Focus Plc Ord 25p
3.6% Tencent Hldgs Ltd
3.3% Aberdeen New Thai Investment Trust Plc Ord 25p
3.2% Taiwan Semiconductor Co
3% Samsung Electronics Co
2.5% Aia Group Ltd
2.3% Japan Exchange Group Inc
2.3% Keyence Corp
2.2% Bank Central Asia
Source: Trustnet

Sector breakdown

Financials 30%
Information Technology 12%
Materials 10%
Health Care 8%
Communications 8%
Others 8%
Industrials 7%
Consumer Staples 6%
Consumer Discretionary 5%
Real Estate 4%

Portfolio details

The portfolio usually contains approximately 50 to 60 stocks held on average for 3 to 4 years.

Constraints

Relative stock exposure + 5%, sector exposure +/- 10%, country exposure: +/- 35%. These are considered as informal limits.
The portfolio is built benchmark agnostic and risk is primarily controlled on the stock level.

Average monthly relative returns Bestinvest MRI
14/15 15/16 16/17 17/18 18/19   3 years 5 years Career 3 years 5 years Career
0.05% -0.46% -0.19% -0.19% 0.46%   0.03% -0.07% 0.28% 75.50% 57.50% 99.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Aberdeen Asian Equities Team

Manager. Hugh Young is Managing Director of Aberdeen Asset Management Asia Limited, Group Head of Direct Investments as well as a member of the executive committee responsible for the Aberdeen Group's day-to-day running. Born in 1958, Young is a Politics graduate from Exeter University. He began his career in 1980 as an analyst with Henderson Crosthwaite, then moving to MGM where he ran money between 1981 and 1984. He joined Fidelity in 1984 but moved to Sentinel Insurance in 1985, where he was a Far East fund manager. Sentinel was acquired by Aberdeen in 1988 and he moved to Singapore in 1992 to set up Aberdeen’s Singapore arm. Young is also Head of Asian Equities, and his team of over 40 investment professionals works across six locations (Singapore, Sydney, Bangkok, Kuala Lumpur, Hong Kong and Tokyo) managing over US$120 billion of equities in the Asia region, including Japan.

Track record

Aberdeen Asian Equities Team has 31.5 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.28%. During the worst period of relative performance (from April 1990 - October 1991) there was a decline of 35% relative to the index. The worst absolute loss has been 63%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance
Absolute -63% (April 1996 - August 1998)
Relative -35% (April 1990 - October 1991)

Sector record since January 1988 (32 yrs)




About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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