Aberdeen Standard SICAV Asian Smaller Companies R2 GBP

Invests in small caps in Asia Pacific ex Japan.

  • 1702.77p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.15%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.40%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.60%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 18 June 2021, fund data last updated 19 December 2014

The fund invests in small companies - that is, those valued at less than $5 billion - either directly in the Asia Pacific region, excluding Japan or which carry out the majority of their business in this region. The team believes that superior returns can be achieved by long-term holding of good quality companies at a reasonable price. Stock-picking is key based on a highly qualitative assessment of the business and its management.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OFFSHORE FUND
Launched December, 2012
Size £652m
Yield 0.60%
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 1.15%
Ongoing charges figure 1.40%

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Investment process

The manager uses a small cap ‘working universe’ of around 400 stocks made up of both benchmark (at the smallest end of the MSCI Asia Pacific index) and non-benchmark companies (up to $5bn market cap in theory, but in practice typically under $1bn) that are identified through the team's own research and contacts. Rigourous bottom-up analysis is then carried out on these companies to select those with 1) an identifiable core franchise, 2) recurring earnings growth, 3) high quality management, 4) a strong and transparent balance sheet and 5) a history of good treatment for minority shareholders. After this quality filter, the team assesses the value of the company based on a range of standard financial measures and compares this to the market price and the company's peer group. The managers take a conservative approach, and often value companies 10-15% lower than consensus estimates. Companies are ranked 1 (highest) to 5 (lowest) for Quality and Price, and must have at least a '3' in each to be considered for inclusion in the portfolio. The fund benefits from extensive stock coverage from the local manager teams throughout the region.

Manager research

Average monthly relative returns

  • 16/17 -0.13%
  • 17/18 -0.13%
  • 18/19 0.12%
  • 19/20 0.02%
  • 20/21 0.20%

Bestinvest MRI

  • 3 years 0.12%
  • 5 years 0.02%
  • Career 0.26%
  • 3 years 88.10%
  • 5 years 80.00%
  • Career 100.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Aberdeen Asian Equities Team

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 33.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.26%. 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 -63.00% (April 1996 - August 1998)
Relative -35.00% (April 1990 - October 1991)

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.

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Allocation

Proportion (%)

  • {{chartDataItem.text}}
    {{chartDataItem.value}}

Portfolio

The portfolio typically holds 40 - 90 stocks.

Constraints

Sector exposure is limited to +/- 10% with country exposure limited to +/-35%. Asia Pacific ex Japan mandate. New investments typically have a market cap <$1bn.

Key Investor Information

Download