Investment Strategy
The fund management focuses on companies with convincing structural growth and high long-term earnings. These companies are based in Emerging Asian countries, but often operate globally. Based on fundamental stock selection, companies are selected that achieve sustainable growth over long periods of time with high profitability. Investments are made primarily in large caps as well as high-growth smaller and medium-sized stocks. The decisive criteria for these business models are high entry barriers, end markets with structural growth and excellent management teams.
- Concentrated portfolio of about 45 stocks
- All cap approach, i.e. exploiting investment opportunities across all market segments
- Long-term investment horizon and therefore low portfolio turnover
- Benchmark-agnostic approach
Learn more about our investment philosophy in equity fund management
Fund data
ISIN | LU2491195983 |
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WKN | A3DN75 |
Inception date | 12.12.2022 |
Issue price (27.06.2024) | 125.65 EUR |
Redemption price (27.06.2024) | 119.67 EUR |
Fund volume | 33.03 Mio. EUR |
Share class volume | 3.17 Mio. EUR |
Currency | EUR |
Minimum investment | - |
Asset Manager | Joh. Berenberg, Gossler & Co. KG |
Management company | Universal-Investment-Luxembourg S.A. |
Custodian | BNP Paribas S.A. Niederlassung Deutschland |
Use of income | Accumulating |
End of financial year | 31.12. |
Registration and Distribution | DE, AT, CH |
SFDR Classification (Sustainable Finance Disclosure Regulation) | Article 8 |
Costs
Issue surcharge | Up to 5.00% |
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Flat-rate fee p.a. | 1.80% |
Total Expense Ratio (TER) p.a. | 2.18% |
Performance fee | none |
Chances and risks
Chances | Risks |
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High return potential of shares in the long term | Share value may fall below the purchase price at which the client acquired the share |
Growth stocks outperform in phases | High volatility of shares, price losses possible Temporary below-average performance of growth shares possible |
Development of second-line stocks sometimes above average | Underperformance of second-line stocks possible at times No guarantee of success for single stock analysis and active management |
Possible additional returns through single stock analysis and active management | There are exchange rate risks with investments in foreign currencies and with transactions in foreign currencies |
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Monthly performance
Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2022 | - | - | - | - | - | - | - | - | - | - | - | -3.32 | -3.32 |
2023 | 7.76 | -4.75 | 1.48 | -4.61 | 3.71 | 1.39 | 3.99 | -3.11 | -0.95 | -4.76 | 5.27 | 1.36 | 5.94 |
2024 | -2.10 | 7.99 | 1.03 | 1.95 | 0.02 | - | - | - | - | - | - | - | 16.84 |
Source: Berenberg, Management company
The charts and tables regarding performance shown here are based on own calculations according to the method developed by the German Investment Funds Association (BVI). They illustrate past performance. Future performance can deviate both positively and negatively from these calculations. Gross performance (BVI method) takes into account all charges at fund level (e.g. management fee), net performance plus the issue surcharge. Additional charges can arise for individual investors (e.g. custody account fees, commissions and other fees). Model calculation (net): An investor wants to purchase fund units for EUR 1,000 USD. Considering a max issue surcharge of 5.00% he has to payUSD 50.00 for the purchase. Also, fees may be charged for the administration of the safe custody account, which will lower the performance. Past performance is not a reliable indicator of future performance.
Performance after issue surcharge
1 year | 19.13% |
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since inception | 19.67% |
Source: Berenberg, Management company | State: 27 Jun 2024
Risk figures
Volatility - 1 year | 14.35% |
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Maximum Drawdown - since inception | -11.55% |
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
May was a quiet month for Asian emerging market equities, with Taiwan being the best performer, supported by strong momentum in AI. The Berenberg Emerging Asia Focus Fund slightly outperformed its benchmark in May. Taiwan Semiconductor recovered from its April decline. PDD Holdings' convincing results for the first quarter of 2024 confirm its robust market position and operational excellence. SK Hynix shares benefited from the positive development of the memory chip economy, which was driven by the rising demand for AI memory. The share price of Baidu Inc slumped after the publication of reasonable results for the first quarter. The share price of BDO Unibank also corrected due to weak first quarter results. Zhongji Innolight fell in May as investors tried to take profits after the share price soared following strong first quarter results. Last month, we exited our positions in M31 Technology, Hong Kong Exchange, Ememory and Alibaba Group.
Portfolio Management
![](https://www.berenberg.de/uploads/web/Events/Bilder-Referenten/_900x1202_crop_center-center_none/Garcia_Javier_Portrait.jpg)
Javier Garcia
Javier Garcia has been a portfolio manager at Berenberg since October 2022. He began his investment career in 2002 at Julius Baer Asset Management (later Swiss & Global Asset Management), where he became Co-Manager of the JB Global Emerging Markets Equity Fund in 2006 and additionally served as Lead Fund Manager of the JB Black Sea Fund and the JB Russia Stock Fund from 2009 onwards. From 2013 to 2022, he has been Senior Portfolio Manager Emerging Markets Equities at UBS Wealth Management. In this role, he built and managed the Global Emerging Markets and Asian Equities business. Javier Garcia holds a Bachelor in Business Administration and Economics from the University of Zurich and is a CFA Charterholder.
![](https://www.berenberg.de/uploads/web/Contacts/_900x1197_crop_center-center_none/Sabrina_Bendel_3_4.jpg)
Sabrina Bendel
Sabrina Bendel has been Product Specialist for the discretionary Equity Portfolio Management team since April 2017. Before joining Berenberg, she worked in the Asset Management division of Deutsche Bank Group (DWS) since 2014. There, she was responsible for European and German Equity Funds as a Product Specialist. Sabrina Bendel holds a Bachelor of Science in Economics and Business Administration from the University of Hohenheim.
CO₂-Intensity
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.