FTF Martin Currie Emerging Markets X

Taking advantage of equity investments in developing economies

  • 462.60p
    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?

  • 5.00% 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!

  • 0.75%
    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).

  • 1.48%
    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%

    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 17 September 2021

Fund summary

Sector Global Emerging Markets
Structure OEIC
Launched June, 2015
Size £37m
Yield 0.60%
Charging basis Income
Dividends paid Acc units only


Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 1.48%


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Investment process

The fund's objective is to achieve long-term capital growth in emerging markets worldwide

Manager research

Average monthly relative returns

  • 16/17 0.35%
  • 17/18 0.14%
  • 18/19 0.07%
  • 19/20 0.55%
  • 20/21 0.14%

Bestinvest MRI

  • 3 years 0.25%
  • 5 years 0.25%
  • Career -0.11%
  • 3 years 96.10%
  • 5 years 99.20%
  • Career 51.20%

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

Kim Catechis

Catechis joined Martin Currie in October 2010 as Head of Global Emerging Markets. Prior to this he spent 12 years at Scottish Widows Investment Partnership (SWIP) performing the same duties. Before joining SWIP Katechis established and managed two asset‐management ventures in Spain: Eagle Star Inversiones and, earlier, FG Gestión. Katechis began his investment career as a portfolio manager for Edinburgh Fund Managers in 1987. He is fluent in French, German, Spanish, Portuguese and Greek, has intermediate Russian skills and is studying Mandarin. Katechis has an MBA and a BA in French and German from the University of Stirling.

Track record

Kim Catechis has 23.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from January 1998 - September 2015) there was a decline of 46% relative to the index. The worst absolute loss has been 61%.

Periods of worst performance

Absolute -61.00% (July 1997 - September 2001)
Relative -46.00% (January 1998 - September 2015)

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.


Proportion (%)

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Top 10 holdings

Data accurate as at 31 July 2020

10.01% Taiwan Semiconductor Manufacturing
9.4% Tencent Hldgs Ltd
9.3% Alibaba Group Hldg Ltd
7.3% Samsung Electronics Co
3.63% Lg Chem
2.94% Prosus N.v.
2.92% Epam Systems Inc
2.67% Ping An Insurance(Gr)Co Of China
2.29% Meituan Dianping
2.24% Reliance Industries
Source: Trustnet

Sector breakdown

Information Technology 28.00%
Consumer Discretionary 21.00%
Financials 18.00%
Communications 12.00%
Materials 8.00%
Energy 7.00%
Health Care 2.00%
Consumer Staples 2.00%
Utilities 2.00%

Key Investor Information