Threadneedle Global Emerging Markets Equity Z

Aims for long term capital growth from emerging market equities.

  • 217.79p
    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!

  • 0.75%
    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).

  • 1.04%
    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.

  • 0.00%
    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 22 June 2021

Fund summary

Sector Global Emerging Markets
Structure OEIC
Launched October, 2012
Size £496m
Yield 0.00%
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 0.75%
Ongoing charges figure 1.04%

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Investment process

The investment objective of the fund is to achieve long term capital growth. The investment policy is to invest primarily in equities of Emerging Markets companies. These are defined as companies domiciled in and/or whose principle activities are in Emerging Market countries. Emerging Market countries are those characterised as developing or emerging by either the World Bank, the United Nations or the MSCI Global Emerging Markets Index.

Manager research

Average monthly relative returns

  • 16/17 -0.56%
  • 17/18 -0.39%
  • 18/19 0.05%
  • 19/20 0.51%
  • 20/21 1.18%

Bestinvest MRI

  • 3 years 0.58%
  • 5 years 0.16%
  • Career 0.12%
  • 3 years 99.50%
  • 5 years 90.00%
  • Career 95.90%

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

Irina Miklavchich

Miklavchich joined Threadneedle in 2011 as a senior fund manager on emerging market equities. Before joining Threadneedle,she spent eight years with Goldman Sachs, where she managed EMEA portfolios within the Principal Strategies group. Prior to that she was part of the global emerging markets team at Goldman Sachs Asset Management. Miklavchich holds a diploma in international economics from the Moscow Institute of International Relations and gained an MBA from INSEAD in France in 2002. She is also a CFA charterholder.

Track record

Irina Miklavchich has 10 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.12%. During the worst period of relative performance (from February 2016 - October 2018) there was a decline of 18% relative to the index. The worst absolute loss has been 22%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -22.00% (May 2011 - September 2011)
Relative -18.00% (February 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.

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Top 10 holdings

Data accurate as at 31 May 2020

8.4% Alibaba Group Hldg Ltd
8.4% Tencent Hldgs Limited
5.3% Taiwan Semiconductor Manufacturing
5.1% Samsung Electronics Co
2.2% Wuxi Biologics (Cayman) Inc
2.1% Hdfc Bank Ltd
2.1% Reliance Industries
2% Yandex Nv
2% Sk Hynix Inc
1.7% Muangthai Capital Pcl
Source: Trustnet

Sector breakdown

Consumer Discretionary 25.00%
Financials 20.00%
Information Technology 19.00%
Communications 15.00%
Health Care 5.00%
Energy 4.00%
Industrials 3.00%
Money Market 2.00%
Consumer Staples 2.00%
Materials 2.00%

Key Investor Information

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