Allianz Emerging Markets Equity C

Growth-orientated equity fund invested in Brazil, Russia, India and China.

  • 300.48p
    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!

  • 0.88%
    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).

  • 1.25%
    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.

  • 1.30%
    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 30 July 2021, fund data last updated 14 July 2011

A specialised emerging markets fund with at least two-thirds of its assets invested in equities of BRIC countries – Brazil, Russia, India and China. The fund combines a top-down country selection process and fundamental stock research. The fund is relatively concentrated and likely to have higher country weightings than a mainstream emerging markets fund and should therefore be regarded as higher risk. We prefer funds with a wider remit that can benefit from developing economies beyond the BRIC countries.

Fund summary

Sector Global Emerging Markets
Structure OEIC
Launched February, 2006
Size £167m
Yield 1.30%
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 0.88%
Ongoing charges figure 1.25%

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Investment process

The fund looks to achieve capital growth by investing at least two-thirds of its assets in equity markets of BRIC countries. Up to a third of the investments may be in companies in other countries including developed and other emerging markets that are linked to the BRIC countries. The fund’s investment process involves systematic country allocation and fundamental stock research. A country scoring model ranks the relative attractiveness of countries within the emerging markets universe while the fund’s stock research focuses on cash generative companies with strong management and positive margins. The fund favours mid cap companies and has a weighted benchmark strategy giving equal weight to each BRIC country.

Manager research

Average monthly relative returns

  • 16/17 -0.14%
  • 17/18 0.29%
  • 18/19 -0.36%
  • 19/20 0.09%
  • 20/21 0.47%

Bestinvest MRI

  • 3 years 0.07%
  • 5 years 0.07%
  • Career 0.17%
  • 3 years 79.40%
  • 5 years 87.50%
  • Career 96.60%

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

Kunal Ghosh

Track record

Kunal Ghosh has 7.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.17%. During the worst period of relative performance (from May 2018 - September 2019) there was a decline of 6% relative to the index. The worst absolute loss has been 23%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 97%.

Periods of worst performance

Absolute -23.00% (March 2015 - January 2016)
Relative -6.00% (May 2018 - September 2019)

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

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Top 10 holdings

Data accurate as at 30 June 2020

8.49% Tencent Hldgs Ltd
8.03% Taiwan Semiconductor Manufacturing
4.39% Alibaba Group Hldg Ltd
3.89% Samsung Electronics Co
3.65% Netease Inc
2.95% Charoen Pokphand Foods Pcl
2.79% Wuhu Sanqi Interactive Ent-A
2.61% Lukoil Oao
2.5% Alibaba Group Hldg Ltd
2.49% New Oriental Education & Technology
Source: Trustnet

Sector breakdown

Information Technology 23.00%
Communications 17.00%
Consumer Discretionary 15.00%
Consumer Staples 12.00%
Financials 12.00%
Materials 8.00%
Health Care 5.00%
Energy 3.00%
Others 3.00%
Industrials 3.00%

Portfolio

Fund holds approximately 50-70 stocks. Up to a third of the portfolio can be invested in non-BRIC countries.

Constraints

There are no limits set at sector or country level. Not more than 20% of the portfolio in any one holding.

Key Investor Information

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