Morningstar Fund Report  | 02/04/2025Print

HSBC Global Investment Funds - Frontier Markets AC

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
HSBC Global Investment Funds - Frontier Markets AC
Fund37.53.020.618.41.9
+/-Cat15.110.612.2-0.30.4
+/-B’mrk16.720.115.37.0-2.5
 
Category: Global Frontier Markets Equity
Category Benchmark: MSCI Frontier Markets NR USD
Key Stats
NAV
01/04/2025		 USD 199.21
Day Change 0.18%
Morningstar Category™ Global Frontier Markets Equity
ISIN LU0666199749
Fund Size (Mil)
01/04/2025		 USD 637.23
Share Class Size (Mil)
01/04/2025		 USD 56.40
Max Initial Charge 5.00%
Ongoing Charge
19/06/2024		  2.24%
Investment Objective: HSBC Global Investment Funds - Frontier Markets AC
The sub-fund invests for long term total returns primarily in a diversified portfolio of Frontier Markets equities. The sub-fund invests in normal market conditions a minimum of 90% of its net assets in equity and equity equivalent securities of companies which have their registered office in, and with an official listing on a major stock exchange or other Regulated Market in Frontier Markets, as well as those companies with significant operations or carrying out a preponderant part of their business activities in these countries.
Returns
Trailing Returns (GBP)01/04/2025
YTD1.01
3 Years Annualised12.06
5 Years Annualised20.78
10 Years Annualised9.28
12 Month Yield 0.00
Management
Manager Name
Start Date
Ramzi Sidani
01/06/2016
Jennifer Passmoor
03/06/2019
Inception Date
30/11/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI Frontier Emerging Market NR USDMSCI Frontier Markets NR USD
Portfolio Profile for  HSBC Global Investment Funds - Frontier Markets AC31/01/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock96.690.0096.69
Bond0.000.000.00
Property0.000.000.00
Cash22.2121.051.17
Other2.190.042.15
Top 5 Regions%
Middle East42.25
Asia - Emerging37.82
Europe - Emerging7.82
Africa6.79
Eurozone4.82
Top 5 Sectors%
Financial Services33.37
Industrials15.64
Real Estate10.52
Technology8.75
Energy8.46
Top 5 HoldingsSector%
Sustained Infrastructure Holding CoIndustrialsIndustrials5.09
Kaspi.kz JSC ADSTechnologyTechnology4.45
Emaar Properties PJSCReal EstateReal Estate4.35
Banca Transilvania SAFinancial ServicesFinancial Services4.33
Halyk Bank of Kazakhstan JSC Shs... Financial ServicesFinancial Services3.63
Increase Decrease New since last portfolio
HSBC Global Investment Funds - Frontier Markets AC
Growth Of 1000 (GBP) 28/02/2025
Fund:  HSBC Global Investment Funds - Frontier Markets AC
Category:  Global Frontier Markets Equity
Category Index:  MSCI Frontier Markets NR USD
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-14.7411.77-4.8737.522.9920.6018.381.92
+/- Category-1.516.59-3.6115.1110.5612.18-0.300.41
+/- Category Index-3.53-1.67-3.1716.6920.0515.277.01-2.46
% Rank in Category681669171445434
Trailing Returns (GBP)01/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.18   0.54-0.13
1 Week1.33   1.351.04
1 Month-0.89   0.18-1.54
3 Months1.01   0.48-3.95
6 Months5.24   -2.22-5.33
YTD1.01   0.48-4.04
1 Year6.51   -1.39-3.06
3 Years Annualised12.06   0.989.72
5 Years Annualised20.78   3.3611.52
10 Years Annualised9.28   1.804.61
 
Category: Global Frontier Markets Equity
Category Index: MSCI Frontier Markets NR USD
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
202411.651.39-0.605.21
20231.354.0410.863.17
20225.08-4.847.68-4.35
20215.9612.488.586.27
2020-23.7813.761.657.92
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAverage4 star
5-YearHighAverage4 star
10-YearAbove AverageAbove Average4 star
Overall*Above AverageAbove Average4 star
 
Category :  Global Frontier Markets EquityClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev12.00 %
3-Yr Mean Return15.53 %
 
3-Yr Sharpe Ratio0.89
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 MSCI Frontier Markets NR USD  Morningstar Middle East & Africa NR USD
3-Yr Beta0.850.79
3-Yr Alpha10.5310.30
 
Investment Style Details31/01/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 5806-
Market Capitalisation% of Equity
Giant0.89
Large45.63
Medium35.11
Small18.19
Micro0.18
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings8.861.05
Price/Book1.451.12
Price/Sales1.781.32
Price/Cash Flow7.681.08
Dividend-Yield Factor5.601.15
 
Long-Term Projected Earnings Growth10.221.11
Historical Earnings Growth15.970.83
Sales Growth11.391.19
Cash-Flow Growth3.68-6.80
Book-Value Growth10.592.92
 
Category: Global Frontier Markets Equity
Asset Allocation31/01/2025
Asset Allocation
 % Long% Short% Net Assets
Stock96.690.0096.69
Bond0.000.000.00
Property0.000.000.00
Cash22.2121.051.17
Other2.190.042.15
World Regions31/01/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom0.000.00
Eurozone4.820.55
Europe - ex Euro0.500.35
Europe - Emerging7.821.00
Africa6.790.77
Middle East42.252.63
Japan0.00-
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging37.820.86
 
Category: Global Frontier Markets Equity
Sector Weightings31/01/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical6.110.81
Financial ServicesFinancial Services33.370.93
Real EstateReal Estate10.521.37
Consumer DefensiveConsumer Defensive6.230.99
HealthcareHealthcare4.501.14
UtilitiesUtilities3.691.59
Communication ServicesCommunication Services2.740.94
EnergyEnergy8.461.25
IndustrialsIndustrials15.641.93
TechnologyTechnology8.750.75
 
Category: Global Frontier Markets Equity
Top 10 Holdings31/01/2025
 Portfolio NEW
Total Number of Equity Holdings61
Total Number of Bond Holdings0
Assets in Top 10 Holdings36.25
NameSectorCountry% of Assets
Sustained Infrastructure Holding Co310Saudi Arabia5.09
Kaspi.kz JSC ADS311Kazakhstan4.45
Emaar Properties PJSC104United Arab Emirates4.35
Banca Transilvania SA103Romania4.33
Halyk Bank of Kazakhstan JSC Shs Spon... 103Kazakhstan3.63
FPT Corp311Vietnam3.07
Metropolitan Bank & Trust Co103Philippines3.01
Mobile World Investment Corp102Vietnam2.97
Vietnam Dairy Products JSC205Vietnam2.79
National Atomic Co Kazatomprom JSC ADR309Kazakhstan2.58
 
Increase Decrease New since last portfolio
Category: Global Frontier Markets Equity
 
Management
Name of CompanyHSBC Investment Funds (Luxembourg) S.A.
Phone(+352) 40 46 46 767
Websitehttp://www.assetmanagement.hsbc.com
AddressC/O HSBC Securities Services (Luxembourg) S.A.
 Luxembourg   L-1160
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date30/11/2011
Fund Advisor(s)
HSBC Global Asset Management (UK) Ltd
Fund ManagerRamzi Sidani
Manager Start Date01/06/2016
Career Start Year2007
Education
Boston College, M.S.
Lebanese American University, M.B.A.
American University, B.B.A.
 
Biography
Ramzi Sidani, Senior Portfolio Manager, joined HSBC Global Asset Management (UK) Limited(AMEU) on May 31, 2016 and is a member of the Frontier Emerging Markets team. Prior to joining AMEU, Mr. Sidani was a portfolio manager with SHUAA Asset Management in Dubai. Prior to that, he was a member of the acquisitions team at the Dubai Group. He has been working in the asset management industry since 2007. Mr. Sidani holds a BBA in Finance from American University of Beirut, a MSc in Finance from Boston College and a MBA from Lebanese American University and is a CFA Charterholder.
Fund ManagerJennifer Passmoor
Manager Start Date03/06/2019
 
Biography
Jennifer Passmoor, Portfolio Manager, joined AMEU in 2019 as a Frontier Markets Analyst. Ms. Passmoor has more than twelve years’ experience in the industry, including nine years working on emerging and frontier markets. Prior to joining AMEU, Ms. Passmoor held a variety of equity and investment analyst roles, including with JP Morgan in Johannesburg, and with Silk Invest, Duet Group Africa and Vergent Asset Management in London. Ms. Passmoor holds a Postgraduate degree in Econometrics and an Undergraduate degree in Investment Management, both from the University of Johannesburg, South Africa.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.75%
Ongoing Charge2.24%
Purchase Details
Minimum Investments
Initial5000  USD
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes