|Latest Return Date
|Latest 6 Months
|Latest 12 Months
|Latest 24 Months (pa)
|Annualised Since Inception
The Fund is managed by Value Partners using a disciplined value-oriented approach supported by intensive, on-the-ground bottom-up fundamental research resulting in a portfolio of individual holdings, which are, in the view of Value Partners, undervalued and of high quality, on either an absolute or relative basis, and which have the potential for capital appreciation.
The Fund will primarily have exposure to the equity securities of entities listed on securities exchanges across the Asia (ex-Japan) region, however, the Fund may also gain exposure to entities listed on securities outside the Asia (ex-Japan) region which have significant assets, investments, production activities, trading or other business interests in the Asia (ex-Japan) region as well as unlisted instruments with equity-like characteristics, such as participatory notes and convertible bonds.
The Fund may also invest in cash and money market instruments, depositary receipts, listed unit trusts, shares in mutual fund corporations and other collective investment schemes (including real estate investment trusts), derivatives including both exchange-traded and OTC, convertible securities, participatory notes, bonds, and foreign exchange contracts.
The Premium Asia Fund has a track record of 12 years and 2 months and has outperformed the MSCI All Country Asia Pacific ex-Japan Index since inception in December 2009, providing investors with an annualised return of 11.67% compared with the index's return of 5.62% over the same period.
On a calendar year basis, the fund has experienced a negative annual return on 2 occasions in the 12 years and 2 months since the start of its track record. Over the past 12 months, the fund's largest drawdown was -9.68% vs the index's -8.46%, and since inception in December 2009 the fund's largest drawdown was -21.41% vs the index's maximum drawdown over the same period of -19.56%. The fund's maximum drawdown began in June 2015 and lasted 1 year and 11 months, reaching its lowest point during February 2016. The fund had completely recovered its losses by May 2017.
The Manager has delivered these returns with 2.29% more volatility than the index, contributing to a Sharpe ratio which has fallen below 1 two times over the past five years and which currently sits at 0.76 since inception. The fund has provided positive monthly returns 89% of the time in rising markets and 21% of the time during periods of market decline, contributing to an up-capture ratio since inception of 161% and a down-capture ratio of 91%.