Veritas China A GBP

Long/short Chinese equity fund.

  • 26922.43p
    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!

  • 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).

  • 1.32%
    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

The Fund is designed for long-term investors who wish to build capital over a number of years, regardless of market conditions, by taking long and short positions primarily in equities or equity related derivative contracts of companies located in China (People’s Republic Of China, and its Specials Administrative Regions, Hong Kong and Macau) or companies that are not located in China but derive a majority (over 50%) of their income from China.

Fund summary

Sector
Structure OFFSHORE FUND
Launched October, 2009
Size £72m
Yield 0.00%
Charging basis
Dividends paid

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.00%
Ongoing charges figure 1.32%

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Investment process

The Fund is designed for long-term investors who wish to build capital over a number of years, regardless of market conditions, by taking long and short positions primarily in equities or equity related derivative contracts of companies located in China (People’s Republic Of China, and its Specials Administrative Regions, Hong Kong and Macau) or companies that are not located in China but derive a majority (over 50%) of their income from China.

Manager research

Average monthly relative returns

  • 16/17 -0.14%
  • 17/18 0.48%
  • 18/19 0.05%
  • 19/20 0.95%
  • 20/21 0.98%

Bestinvest MRI

  • 3 years 0.66%
  • 5 years 0.46%
  • Career 0.43%
  • 3 years 98.60%
  • 5 years 98.80%
  • Career 100.00%

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

Ezra Sun

Sun joined Veritas Asset Management in 2004. He previously worked for Newton from 1995 as an Asia Pacific equities analyst and later became Director of Investment Management and Investment Leader, Asia Pacific ex Japan Equities. He moved to the UK in 1992 and was a research student at Cambridge University, where he also worked as a language tutor in the faculty of Oriental Studies. He holds a BA and MA degree from Nankai University in China.

Track record

Ezra Sun has 21.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.43%. During the worst period of relative performance (from January 2009 - February 2012) there was a decline of 23% relative to the index. The worst absolute loss has been 36%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -36.00% (October 2007 - October 2008)
Relative -23.00% (January 2009 - February 2012)

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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Key Investor Information

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