fund
FSSA Greater China Growth B
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1338.31p
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.
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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?
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4.00% 0.00%
Initial chargeSome 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!
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1.00%
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).
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1.07%
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.
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0.40%
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…
This fund aims to achieve long-term capital growth. The portfolio of equities offers exposure to mainland China, Hong Kong and Taiwan. The fund is constructed from the bottom up and has high active share. The manager uses GARP (growth at reasonable price) approach to portfolio construction, and has an absolute return mindset.
Fund summary
| Sector | China/Greater China |
| Structure | OEIC |
| Launched | |
| Size | £679m |
| Yield | 0.40% |
| Charging basis | Income |
| Dividends paid | Acc units only |
Charges
| Standard initial charge | 4.00% |
| Initial charge via Bestinvest | 0.00% |
| Annual management charge | 1.00% |
| Ongoing charges figure | 1.07% |
Allocation
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Investment process
This is a fairly concentrated portfolio, benchmarked for reference purposes only against the MSCI Golden Dragon Index. The fund is constructed on a bottom up basis, targeting companies that are investor friendly, have sound business models, strong franchises and a good management track record. Financial criteria include growth in earnings and return on equity at a reasonable price. Company visits are an essential part of the investment process and the team are locally based. The manager's investment style emphasises high conviction levels on all stocks within the portfolio - there are no positions held for relative benchmark risk purposes.
Manager research
Average monthly relative returns
- 16/17 0.00%
- 17/18 0.00%
- 18/19 0.00%
- 19/20 0.00%
- 20/21 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
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Sector breakdown
| Information Technology | 26.00% |
| Consumer Discretionary | 19.00% |
| Industrials | 14.00% |
| Consumer Staples | 12.00% |
| Financials | 8.00% |
| Communications | 7.00% |
| Health Care | 6.00% |
| Utilities | 4.00% |
| Real Estate | 3.00% |
| Money Market | 1.00% |
Portfolio
Stock numbers have risen to 70-80 as IPO issuance has expanded. Stock exposure min 1%, max 10%. Usually 50% invested in mid or smaller cap companies. Less than 10% of the current allocation to Chinese A shares.
Key Investor Information