Fact sheet: Veritas China

Fund information
Fund name
Veritas China B GBP
Fund manager company
Veritas Asset Mgmt LLP
Fund type
No data available.
Fund manager
  • Ezra Sunsince 02/10/2009
Fund objective
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.
Benchmark
  • No Specified Index
Investment style
Long/Short
Investment method
Equity
Quick stats
1 Year return
-10.1%
1 Year rank in sector
94/106
Sector
FO Hedge/Stru Prod - Equity
Yield
-
Fund size
£22m (£108m 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.
80
Top in this sector
Fund name1 Year
MontLake ToscaMiCaUCITS21.8%
Ennismore Eurpn Smallar Cos19.8%
Income Partners AllSeasnAsCred18.7%
BlackRock SF Asia Extnn16.9%
Majedie Tortoise16.9%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

  • China34.9%
    Taiwan20%
    Hong Kong-3.3%
  • Information Technology35.4%
    Consumer Discretionary25.4%
    Financials9.4%
    Telecommunications Utilities4.3%
    Health Care3.6%
  • Chinese Equities34.9%
    Taiwanese Equities20%
    Hong Kong Equities-3.3%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.2%2.6%-2.4%-10.1%4.6%25.2%
Sector0.5%1.7%1.2%-1%5.4%15.6%
Rank within sector85 / 12039 / 12289 / 11694 / 10645 / 7520 / 53
Quartile3rd2nd4th4th3rd2nd
Calendar performance
 YTD - 20162015201420132012
Fund-12.4%9%-0.6%22.5%14.4%
Sector-1.8%2.7%2.5%7.1%3.9%
Rank within sector103 / 11217 / 9959 / 8013 / 7111 / 58
Quartile4th1st3rd1st1st
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.
-0.45
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.
1.98
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
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%.
13.59
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.
12.31
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.
0.06
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.
0.23
Price movement
52 week high146.32
52 week low121.03
Current bid price-
Current offer price-
Current mid price126.38
Region
1China34.9%
2Taiwan20%
3Hong Kong-3.3%
Industry sector
1Information Technology35.4%
2Consumer Discretionary25.4%
3Financials9.4%
4Telecommunications Utilities4.3%
5Health Care3.6%
6Industrials-5.9%
7Consumer Staples-20.7%
Asset type
1Chinese Equities34.9%
2Taiwanese Equities20%
3Hong Kong Equities-3.3%
Individual holdings
1TAL EDUCATION GROUP6.9%
2AAC TECHNOLOGIES HLDGS INC6.3%
3DAH SING BANKING GROUP6.2%
4CICCHK 0 05/06/185.2%
5LARGAN PRECISION CO LTD5.1%
6DONGFENG MOTOR GROUP CO4.9%
7ALIBABA GROUP HLDG LTD4.5%
8CTRIP COM INTERNATIONAL4.3%
9HKT TRUST AND HKT LTD SHARE STAPLED UNIT4.3%
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, 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.
Benchmark
  • No Specified Index
Investment style
Long/Short
Investment method
Equity
Fund manager
NameSinceBiography
Ezra Sun02/10/2009Ezra Sun is Partner, Fund Manager and Head of Asia of Veritas Asset Management LLP. He manages the Veritas Asian Fund, Real Return Asian Fund and Veritas China Fund. He joined the company in 2004. He was Director of Investment Management and Investment Leader Asia Newton Investment Management during 1995-2004 and was in charge of Newton’s Asia Pacific fund range including Newton Oriental Fund and Mellon Asia Equity Fund. He has done his BA, MA from Nankai University, China and is a Research Student from Cambridge University.
Compliance
Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom, Ireland, Offshore
Veritas China 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)-
Bid price-
Offer price-
Mid price122.5541
CurrencyEUR
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeHSJ2
Veritas China A GBP
Initial charge-
Annual charge1%
Min single investment£30,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.33%
Bid price-
Offer price-
Mid price130.833
CurrencyGBP
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeHSJ3
Veritas China A USD
Initial charge1%
Annual charge1%
Min single investment£50,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price126.5352
CurrencyUSD
Price updated27/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeHSJ1
Veritas China 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)-
Bid price-
Offer price-
Mid price163.9137
CurrencyEUR
Price updated23/09/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeHSJ5
Veritas China 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)1.84%
Bid price-
Offer price-
Mid price126.3845
CurrencyGBP
Price updated27/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeHSJ6
Veritas China B USD
Initial charge1.5%
Annual charge1.5%
Min single investment£15,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price121.1333
CurrencyUSD
Price updated10/01/2013
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeHSJ4
Data provided by

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