fund

Rated

This is one of our rated funds. They’re the ones our experts believe will do well for investors over the longer term. Top of the class!

First State Asia Focus B GBP

  • 194.53p
    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?

  • 4.00% 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!

  • 0.85%
    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).

  • 0.90%
    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.

  • 1.00%
    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 13 December 2019, fund data last updated 24 September 2015

The fund aims to achieve capital growth rather than to simply outperform any benchmark. The manager Martin Lau invests with an absolute return mindset and aims to identify companies with strong corporate governance and balance sheets. He is prudent with risk/reward and avoids those that are too highly priced. The fund invests at least 80% in companies in the Asia Pacific region (which excludes Japan and includes Australasia) however has the flexibility to invest up to 20% outside of this region.

Fund summary

Sector Asia Pacific Excluding Japan
Structure OEIC
Launched
Size £721m
Yield 1.00%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 4.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.85%
Ongoing charges figure 0.90%

Allocation

Proportion (%)

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

Allocation

Proportion (%)

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

Allocation

Proportion (%)

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

Investment process

Bottom-up stock selection forms the foundation of the investment process. The team identifies companies with strong competitive advantages, franchise or management that have sustainable long-term earnings per share growth prospects. The team have a strong valuation discipline, not wanting to diminish the upside and increase the downside risk by over paying for a company. Company visits are considered paramount, and the team undertakes approximately 1000 one-to-one company meetings each year. The team's research analysts have significant input on stock ideas and recommendations for the portfolio. Team discussions around assumptions, potential risks and rewards, valuations and macro-overlays take place formally and informally. The manager is responsible for forming and managing the portfolio, deciding on price, quantity, timing of purchases and sales.

Martin Lau is an experienced fund manager investing in the Asia Pacific ex Japan region and is supported by strong analytical resource with small team based in Asia, following First State Investment's split-up in 2015. The manager adopts a pragmatic medium to long term investment approach with a flexible style that will adapt to prevailing economic conditions. His focus is on absolute return with prudent risk/return balance and capital preservation is considered to be the foundation for long-term wealth creation.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

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

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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}}

Sector breakdown

Financials 24.00%
Information Technology 22.00%
Consumer Staples 17.00%
Health Care 9.00%
Industrials 8.00%
Consumer Discretionary 8.00%
Utilities 4.00%
Money Market 3.00%
Communications 2.00%
Real Estate 2.00%

Portfolio

The portfolio is fairly diversified, containing 40-100 securities.

Key Investor Information

Download