Fact sheet: Veritas Asian

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
ASIA EQUITIES
Sector
FO Equity - Asia Pacific ex Japan
Fund type
No data available.
Primary aim
GROWTH & INCOME
Why Money Observer Rates Veritas Asian

Rated Fund 2016-2018. A long-term core complemented by short-term opportunism

Veritas Asian won the Money Observer Best Asia Pacific ex Japan Fund award in 2015 and 2017, and was highly commended in 2016. It has been run since inception in 2004 by Ezra Sun, who has more than 20 years of Asia equities experience. He is based in London and heads the Asia equity team of three analysts, all based in Hong Kong. They communicate on a daily basis. Sun uses a thematic approach to help drive stock selection. Assets are allocated between two broad groups depending on market conditions. A core portfolio typically accounts for 25 to 65 per cent of assets and is increased when the manager has a cautious market outlook. It consists of steadier, often high dividend-yielding companies that tend to reflect a structural growth theme. These are expected to provide steady returns over three to five years, and help to reduce volatility because share price fluctuations usually come from the mismatch between earnings expectations and delivery. The remainder is invested in shorter-term trading opportunities and seeks to capitalise on market inefficiencies and earnings momentum. With this group, Sun takes a six-month view and holds companies with earnings growth that he believes have been materially under- or overestimated by the market. As part of the process, Sun examines the quality of business models, quality of management, and the company's financial strength. He also uses a variety of valuation metrics to determine appropriate entry and exit prices.<\p>

3 Year Performance
Fund Performance68.5%
Average of Rated Funds Group51.1%
Sector Performance19.4%
Fund information
Fund name
Veritas Asian C GBP
Fund manager company
Veritas Asset Mgmt LLP
Fund type
No data available.
Fund managers
  • Ezra Sunsince 18/10/2004
Accolades
Highly Commended - Asia Pacific excluding Japan
Fund objective
The Fund is designed for long-term investors who wish to build capital over a number of years through investment in a portfolio of equity and equity related securities in companies located in Asia (excluding Japan).
Benchmark
  • MSCI AC Asia Pacific ex Japan
Investment style
None
Investment method
Shares
Quick stats
1 Year return
25.2%
1 Year rank in sector
-
Sector
FO Equity - Asia Pacific ex Japan
Yield
-
Fund size
£1,716m (£575m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
106
Top in this sector
Fund name1 Year
Morg Stnly Asia Opp44.2%
Wellington AsianOpp31.5%
Melchior ST Asian Opps31%
Investec Asia Paci Eq30.2%
CC Asia Focus29.8%
...more in FO Equity - Asia Pacific ex Japan

Performance snapshot

Holdings snapshot

  • China37.2%
    Australia19.9%
    India11%
    Korea8.7%
    Hong Kong6.5%
  • Information Technology22.1%
    Financials19.5%
    Consumer Staples16%
    Health Care13.3%
    Consumer Discretionary12%
  • Chinese Equities38.9%
    Australian Equities17.4%
    Indian Equities10.6%
    South Korean Equities8.2%
    Hong Kong Equities6.7%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund6.5%4.5%-0.1%25.2%68.5%107.2%
Sector1%-1%0.9%15.2%19.4%32.5%
Rank within sector------
Quartile
Calendar performance
 YTD - 20182017201620152014
Fund3.4%37.7%---
Sector0.3%31.6%6.4%-6.8%5.5%
Rank within sector-----
Quartile
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
12.14
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.77
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.96
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
13.46
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.53
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.1
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.55
Price movement
52 week high682.35
52 week low549.98
Current bid price-
Current offer price-
Current mid price681.44
Region
1China37.22%
2Australia19.9%
3India11.03%
4Korea8.72%
5Hong Kong6.5%
6Money Market5.61%
7Thailand4.72%
8Taiwan3.26%
9Singapore1.56%
Industry sector
1Information Technology22.06%
2Financials19.48%
3Consumer Staples15.98%
4Health Care13.27%
5Consumer Discretionary12%
6Materials6.26%
7Cash & Cash Equivalents5.61%
8Industrials5.33%
Asset type
1Chinese Equities38.87%
2Australian Equities17.37%
3Indian Equities10.56%
4South Korean Equities8.25%
5Hong Kong Equities6.69%
6Thai Equities5.06%
7Taiwanese Equities3.89%
8Money Market3.42%
9UK Equities2.42%
Individual holdings
1TENCENT HLDGS LIMITED4.35%
2ARISTOCRAT LEISURE4.12%
3CSL LIMITED (AUD)3.87%
4TREASURY WINE ESTATES LTD NPV3.77%
5PING AN INSURANCE(GR)CO OF CHINA3.74%
6AIA GROUP LTD3.67%
7HDFC BANK LTD3.57%
8JIANGSU HENGRUI MEDICAL3.55%
9CP ALL PCL3.53%
Management
Fund manager group
Veritas
Fund manager company
Veritas Asset Mgmt LLP
Fund type
No data available.
Fund objective
The Fund is designed for long-term investors who wish to build capital over a number of years through investment in a portfolio of equity and equity related securities in companies located in Asia (excluding Japan).
Benchmark
  • MSCI AC Asia Pacific ex Japan
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Ezra Sun18/10/2004Fund Manager of the Veritas Asian strategies. Joined the company in 2004. Director of Investment Management and Investment Leader Asia Newton Investment Management 1995 to 2004. In charge of Newton’s Asia Pacific fund range including Newton Oriental Fund and Mellon Asia Equity Fund. Education: BA, (Nankai University, China), MA, (Nankai University, China), Research Student Cambridge University.
Compliance
Transparent for Austrian Tax, Transparent for German Tax, IA Recognised, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom, Ireland, Offshore
Veritas Asian A EUR
Initial charge-
Annual charge1%
Min single investment£50,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price472.1095
CurrencyEUR
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB28
Veritas Asian A GBP
Initial charge3%
Annual charge1%
Min single investment£30,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price674.508
CurrencyGBP
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB27
Veritas Asian A USD
Initial charge-
Annual charge1%
Min single investment£50,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price486.5554
CurrencyUSD
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB26
Veritas Asian B EUR
Initial charge-
Annual charge1.5%
Min single investment£15,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price347.4222
CurrencyEUR
Price updated21/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV112
Veritas Asian B GBP
Initial charge-
Annual charge1.5%
Min single investment£7,000
Min regular saving£7,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price496.3209
CurrencyGBP
Price updated21/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV113
Veritas Asian B USD
Initial charge-
Annual charge1.5%
Min single investment£15,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price337.895
CurrencyUSD
Price updated21/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV114
Veritas Asian C EUR
Initial charge-
Annual charge0.75%
Min single investment£30,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeO70E
Veritas Asian C GBP
Initial charge-
Annual charge0.75%
Min single investment£20,000,000
Min regular saving£100,000
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price681.4363
CurrencyGBP
Price updated21/05/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEABE
Veritas Asian C USD
Initial charge3%
Annual charge0.75%
Min single investment£30,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price490.3435
CurrencyUSD
Price updated21/05/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNPFD
Veritas Asian D EUR
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeO70F
Veritas Asian D GBP
Initial charge-
Annual charge0.75%
Min single investment£20,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price675.112
CurrencyGBP
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNNOA
Veritas Asian D USD
Initial charge3%
Annual charge0.75%
Min single investment£30,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price485.841
CurrencyUSD
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNPFC
Data provided by

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