Fact sheet: First State China Fcs

Fund information
Fund name
First State China Focus IV
Fund manager company
First State Investments (Hong
Fund type
No data available.
Fund managers
  • Xian Quanqiangsince 30/01/2008
  • Martin Lausince 30/01/2008
Fund objective
The Fund aims to grow your investment. The Fund mainly invests in shares of large and mid sized companies that are based in or have significant operations in mainland China. These companies generally have a total stock market value of at least US$1 billion.
Benchmark
  • MSCI China
Investment style
None
Investment method
Shares
Quick stats
1 Year return
4.7%
1 Year rank in sector
28/30
Sector
FO Equity - China
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
2.31%
Fund size
£225m (£289m 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.
143
Top in this sector
Fund name1 Year
Matthews Asia China36.5%
Pictet China Index35.4%
Allianz China Eq34.6%
JGF-Jupiter China Select30.8%
Aberdeen Gbl Chinese Equity29.9%
...more in FO Equity - China

Performance snapshot

Holdings snapshot

  • China78.9%
    Hong Kong8.9%
    Taiwan7.9%
    Singapore4%
    Money Market0.3%
  • Consumer Discretionary20.6%
    Information Technology20.6%
    Consumer Staples15.2%
    Industrials14.6%
    Telecommunications Utilities9.1%
  • Chinese Equities78.9%
    Hong Kong Equities8.9%
    Taiwanese Equities7.9%
    Singapore Equities4%
    Money Market0.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.6%13.1%11.4%4.7%-19.9%9.6%
Sector3%14.3%15.5%15.3%19.9%47.8%
Rank within sector26 / 3123 / 3124 / 3128 / 3026 / 2623 / 23
Quartile4th3rd4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund-3.1%-16.1%-4.9%16.9%21.1%
Sector3.9%0.9%8.4%11.5%13.5%
Rank within sector26 / 3126 / 2625 / 2610 / 263 / 23
Quartile4th4th4th2nd1st
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.
-12.31
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.
0.93
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.
-0.02
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%.
20.68
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.
7.91
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.
-1.63
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.
0.85
Price movement
52 week high10.01
52 week low7.39
Current bid price-
Current offer price-
Current mid price9.06
Region
1China78.9%
2Hong Kong8.9%
3Taiwan7.9%
4Singapore4%
5Money Market0.3%
Industry sector
1Consumer Discretionary20.6%
2Information Technology20.6%
3Consumer Staples15.2%
4Industrials14.6%
5Telecommunications Utilities9.1%
6Materials5.3%
7Financials5.1%
8Utilities4.6%
9Energy4.1%
Asset type
1Chinese Equities78.9%
2Hong Kong Equities8.9%
3Taiwanese Equities7.9%
4Singapore Equities4%
5Money Market0.3%
Individual holdings
1CHINA TELECOM CORP9.1%
2LENOVO GROUP8.2%
3CHINA MERCHANTS BANK CO LTD7.9%
4DELTA ELECTRONICS INC7.9%
5CHINA MENGNIU DAIRY CO6.3%
6LI NING CO LTD5%
7XINJIANG GOLDWIND SCIENCE&TECHNOLOG4.8%
8FIRST STATE FUNDS FIRST STATE CHINA`A`SHS FD USD LV4.7%
9ASM PACIFIC TECHNOLOGY4.6%
Management
Fund manager group
First State Investments
Fund manager company
First State Investments (Hong
Fund type
No data available.
Fund objective
The Fund aims to grow your investment. The Fund mainly invests in shares of large and mid sized companies that are based in or have significant operations in mainland China. These companies generally have a total stock market value of at least US$1 billion.
Benchmark
  • MSCI China
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Xian Quanqiang30/01/2008Quanqiang Xian joined First State Investments in June 2006. Before that,he was Investment Analyst with Orbis Investment Advisory Limited in London, with research responsibility on Chinese equities for two and halfyears. Prior to that, he spent five years with the Asian private equity operation of the Government of Singapore Investments Corporation in Singapore and Hong Kong. Quanqiang has a Bachelor of Business Administration degree (with Firstclass Honours) from the National University of Singapore and a Master in Finance degree (with Distinction) from the London Business School. He is also a CFA charterholder.
Martin Lau30/01/2008Martin Lau is a Managing Partner of First State Stewart Asia, part of First State Investments. Martin has more than 20 years of experience in managing Asia Pacific and Greater China portfolios. He joined the FSSA team in April 2002 and is based in Hong Kong. Martin is the lead manager of a number of First State funds: the First State Asian Equity Plus Fund, the First State Asian Bridge Fund, the First State Asia Pacific All Cap Fund, the First State New Era PRC Fund, the First State China Growth Fund, the First State Greater China Growth Fund and the First State Hong Kong Growth Fund. He is also co-manager of the Scottish Oriental Smaller Companies Trust in the UK. Martin graduated from Cambridge University with a Bachelor of Arts degree and a Masters degree in Engineering. He is also a CFA charterholder.
Compliance
Transparent for Swiss Tax, Reporting Fund Status, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom, Hong Kong, Ireland
First State China Focus I Acc
Initial charge5%
Annual charge1.75%
Min single investment£1,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.87%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price11.99
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeDDI1
First State China Focus III
Initial charge7%
Annual charge1%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.08%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.46
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGTUR
First State China Focus IV
Initial charge5%
Annual charge2%
Min single investment£1,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)2.31%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.06
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code04CX
Data provided by

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