AXA Framlington Emerging Markets Z

Invests in companies headquartered in or operating in developing countries

  • 166.30p
    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.

  • 182.70p
    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!

  • 0.75%
    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).

  • 0.88%
    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.

  • 0.30%
    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 14 June 2021

This fund invests in companies listed in developing economies in regions such as Asia, Latin America, Eastern Europe and Africa with the aim of generating returns primarily through capital appreciation.

Fund summary

Sector Global Emerging Markets
Structure UNIT TRUST
Launched June, 2011
Size £103m
Yield 0.30%
Charging basis Income
Dividends paid 31 Jan

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.88%

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Investment process

Manager research

Average monthly relative returns

  • 16/17 -0.18%
  • 17/18 -0.45%
  • 18/19 0.15%
  • 19/20 0.05%
  • 20/21 0.22%

Bestinvest MRI

  • 3 years 0.14%
  • 5 years -0.04%
  • Career 0.06%
  • 3 years 77.30%
  • 5 years 55.20%
  • Career 74.90%

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

Ian Smith / Paul Birchenough

Smith joined AXA IM in 2012 from Matrix Group, where he was an investment analyst responsible for covering the Financials sector within Asia. Prior to that he worked for Nevsky Capital where he was responsible for covering the Financials sector within Latin America and Asia. Smith has a BA in Economics and Politics from Durham University and gained ACA qualification in 2003. Birchenough joined AXA IM in 2011 from Nevsky Capital, where he specialised in Latin America. Prior to joining Nevsky Capital in early 2010, he was an Associate within the Corporate Finance department at KPMG, advising on the European TMT sector. Birchenough has a BSc (Hons) in Mathematics from Nottingham University and is an Associate Chartered Accountant.

Track record

Ian Smith / Paul Birchenough has 5.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.06%. During the worst period of relative performance (from May 2016 - October 2018) there was a decline of 15% relative to the index. The worst absolute loss has been 20%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 75%.

Periods of worst performance

Absolute -20.00% (July 2019 - March 2020)
Relative -15.00% (May 2016 - October 2018)

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 31 July 2020

9.3% Alibaba Group Hldg Ltd
9.15% Tencent Hldgs Ltd
8.84% Taiwan Semiconductor Co
3.7% Samsung Electronics Co
3.52% Unilever Nv
3.24% Godrej Consumer Products
2.77% Dino Polska Sa
2.37% Ping An Insurance(Gr)Co Of China
2.32% Centre Testing Intl(Shenzhen)Co Ltd
2.28% Mediatek Inc
Source: Trustnet

Sector breakdown

Consumer Staples 20.00%
Information Technology 19.00%
Consumer Discretionary 19.00%
Financials 15.00%
Communications 13.00%
Health Care 3.00%
Industrials 3.00%
Money Market 2.00%
Energy 2.00%
Real Estate 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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