Morningstar Fund Report  | 14/04/2025Print

Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD
Fund5.7-0.97.41.1-8.2
+/-Cat7.211.23.3-7.0-7.4
+/-B’mrk6.67.03.5-7.9-7.3
 
Category: Global Emerging Markets Equity
Category Benchmark: Morningstar EM TME NR USD
Key Stats
NAV
11/04/2025		 USD 31.62
Day Change -0.46%
Morningstar Category™ Global Emerging Markets Equity
ISIN IE00B0169P41
Fund Size (Mil)
11/04/2025		 USD 36.08
Share Class Size (Mil)
11/04/2025		 USD 1.20
Max Initial Charge 5.00%
Ongoing Charge
29/11/2024		  0.80%
Morningstar Research
Analyst Report11/04/2025
Samuel Lo, Principal
Morningstar, Inc

Stewart Investors Global Emerging Markets Leaders Sustainability continues to benefit from a capable investment team and a best-in-class investment approach. We reiterate the strategy’s Above Average People rating and High Process rating. The...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process25
Performance
Price
Investment Objective: Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD
The investment objective of the Fund is to achieve long term capital appreciation.
Returns
Trailing Returns (GBP)11/04/2025
YTD-12.96
3 Years Annualised-2.01
5 Years Annualised4.55
10 Years Annualised1.40
12 Month Yield 0.00
Management
Manager Name
Start Date
Jack Nelson
01/04/2022
David Gait
01/04/2022
Inception Date
06/10/2005

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI EM NR USDMorningstar EM TME NR USD
Portfolio Profile for  Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.720.0098.72
Bond0.000.000.00
Property0.000.000.00
Cash1.280.001.28
Other0.000.000.00
Top 5 Regions%
Asia - Emerging43.72
Asia - Developed31.57
Latin America13.67
United States4.90
Europe - Emerging2.51
Top 5 Sectors%
Technology36.53
Industrials18.54
Consumer Cyclical13.87
Financial Services10.84
Consumer Defensive9.95
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology7.95
HDFC Bank LtdFinancial ServicesFinancial Services6.38
Samsung Electronics Co LtdTechnologyTechnology5.75
Mahindra & Mahindra LtdConsumer CyclicalConsumer Cyclical4.98
Tata Consultancy Services LtdTechnologyTechnology4.17
Increase Decrease New since last portfolio
Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD
Growth Of 1000 (GBP) 31/03/2025
Fund:  Stewart Investors Global Emerging Markets Leaders Fund Class III (Accumulation) USD
Category:  Global Emerging Markets Equity
Category Index:  Morningstar EM TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-6.87-4.270.155.74-0.877.451.15-8.20
+/- Category4.40-18.54-13.907.2011.193.34-6.97-7.39
+/- Category Index0.59-18.63-13.746.616.973.47-7.87-7.32
% Rank in Category11100921361892100
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.46   -0.60-1.28
1 Week-3.60   -0.061.22
1 Month-6.42   -0.10-0.21
3 Months-14.53   -6.52-7.12
6 Months-14.49   -4.74-4.86
YTD-12.96   -5.73-6.14
1 Year-11.08   -6.05-7.31
3 Years Annualised-2.01   -1.95-2.66
5 Years Annualised4.55   -0.14-0.93
10 Years Annualised1.40   -1.95-2.84
 
Category: Global Emerging Markets Equity
Category Index: Morningstar EM TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-8.20---
2024-1.912.611.37-0.86
20231.540.84-1.036.03
20220.60-5.441.582.58
20210.495.052.00-1.79
2020-23.7315.911.5111.60
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageLow3 star
5-YearAverageLow3 star
10-YearBelow AverageLow2 star
OverallBelow AverageLow3 star
 
Category :  Global Emerging Markets EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev10.77 %
3-Yr Mean Return-0.01 %
 
3-Yr Sharpe Ratio-0.37
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar EM TME NR USD  Morningstar EM SMID TME NR USD
3-Yr Beta0.780.92
3-Yr Alpha-3.40-3.02
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 33762-
Market Capitalisation% of Equity
Giant57.81
Large27.22
Medium10.08
Small4.90
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings18.871.59
Price/Book2.641.60
Price/Sales1.931.29
Price/Cash Flow11.431.78
Dividend-Yield Factor1.920.60
 
Long-Term Projected Earnings Growth11.781.12
Historical Earnings Growth12.162.19
Sales Growth10.032.19
Cash-Flow Growth11.302.41
Book-Value Growth14.721.69
 
Category: Global Emerging Markets Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.720.0098.72
Bond0.000.000.00
Property0.000.000.00
Cash1.280.001.28
Other0.000.000.00
World Regions31/03/2025
 % of EquityRelative to Category
United States4.905.84
Canada0.000.00
Latin America13.671.49
United Kingdom0.000.00
Eurozone1.491.16
Europe - ex Euro0.000.00
Europe - Emerging2.511.14
Africa2.140.62
Middle East0.000.00
Japan0.000.00
Australasia0.00-
Asia - Developed31.571.09
Asia - Emerging43.720.90
 
Category: Global Emerging Markets Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical13.870.94
Financial ServicesFinancial Services10.840.45
Consumer DefensiveConsumer Defensive9.952.10
HealthcareHealthcare8.052.30
Communication ServicesCommunication Services2.220.22
IndustrialsIndustrials18.542.84
TechnologyTechnology36.531.47
 
Category: Global Emerging Markets Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings42
Total Number of Bond Holdings0
Assets in Top 10 Holdings45.12
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan7.95
HDFC Bank Ltd103India6.38
Samsung Electronics Co Ltd311Korea, Republic Of5.75
Mahindra & Mahindra Ltd102India4.98
Tata Consultancy Services Ltd311India4.17
Raia Drogasil SA206Brazil3.25
Weg SA310Brazil3.22
Shenzhen Inovance Technology Co Ltd C... 310China3.22
Infosys Ltd311India3.12
Wal - Mart de Mexico SAB de CV205Mexico3.09
 
Increase Decrease New since last portfolio
Category: Global Emerging Markets Equity
 
Management
Name of CompanyFirst Sentier Investors (Ireland) Limited
Phone-
Website -
AddressFirst Sentier Investors (Ireland) Limited
 -   -
 Luxembourg
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date06/10/2005
Fund Advisor(s)
First Sentier Investors (Hong Kong) Limited
Fund ManagerJack Nelson
Manager Start Date01/04/2022
Career Start Year2011
 
Biography
Jack Nelson is a Portfolio Manager at Stewart Investors. He joined the team in September 2011 as a graduate. Jack is Lead Manager of the Global Emerging Markets Leaders Sustainability strategy. He holds a MA (Oxon) in Politics, Philosophy and Economics from Queen’s College, Oxford.
Fund ManagerDavid Gait
Manager Start Date01/04/2022
Career Start Year1997
Education
University of Cambridge, M.A.
Stirling University, M.S.
 
Biography
David Gait is Head of the Stewart Investors Investment Team and a Portfolio Manager. He sits on the Stewart Investors Board. David joined the team as a graduate in 1997. He is Lead Manager of the Asia Pacific Leaders Sustainability and Asia Pacific Sustainability strategies, as well as Pacific Assets Trust. David holds an MA with honours in Economics from Cambridge University, and holds a Master of Science in Investment Analysis from Stirling University.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.85%
Ongoing Charge0.80%
Purchase Details
Minimum Investments
Initial500000  USD
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes