Morningstar Fund Report  | 05/04/2025Print

Templeton China Fund W(acc)GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Templeton China Fund W(acc)GBP
Fund-20.5-21.6-25.414.910.9
+/-Cat-5.7-5.8-5.00.63.1
+/-B’mrk0.6-11.2-10.3-5.0-0.4
 
Morningstar Restructure Date: 01/03/2019
Category: China Equity
Category Benchmark: Morningstar China TME NR USD
Effective 01/03/2019, this fund's investment strategy changed to the extent that its record prior to that date is not relevant to its new format. Performance prior to that date is not shown.
Key Stats
NAV
03/04/2025		 GBP 13.93
Day Change -1.97%
Morningstar Category™ China Equity
IA (formerly IMA) Sector China/Greater China
ISIN LU0768359696
Fund Size (Mil)
28/02/2025		 USD 314.86
Share Class Size (Mil)
03/04/2025		 GBP 1.65
Max Initial Charge -
Ongoing Charge
12/02/2025		  1.40%
Investment Objective: Templeton China Fund W(acc)GBP
The Fund’s investment objective is capital appreciation, which it seeks to achieve through a policy of investing primarily in equity securities of companies: (i) organised under the laws of or with their principal offices in the Mainland China (“China”), Hong Kong or Taiwan or (ii) which derive the principal portion of their revenue from goods or services sold or produced, or have the principal portion of their assets in China, Hong Kong or Taiwan.
Returns
Trailing Returns (GBP)03/04/2025
YTD7.48
3 Years Annualised-5.28
5 Years Annualised-4.17
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Michael Lai
05/08/2019
Eric Mok
28/02/2020
Inception Date
31/05/2012

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China 10-40 NR USDMorningstar China TME NR USD
Portfolio Profile for  Templeton China Fund W(acc)GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock94.750.0094.75
Bond0.000.000.00
Property0.000.000.00
Cash2.300.002.30
Other2.950.002.95
Top 5 Regions%
Asia - Emerging98.06
Asia - Developed1.94
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Consumer Cyclical41.34
Communication Services16.17
Financial Services14.89
Technology10.87
Consumer Defensive5.28
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services9.64
Alibaba Group Holding Ltd Ordina... Consumer CyclicalConsumer Cyclical9.44
Xiaomi Corp Class BTechnologyTechnology7.86
Meituan Class BConsumer CyclicalConsumer Cyclical6.40
China Construction Bank Corp Cla... Financial ServicesFinancial Services4.86
Increase Decrease New since last portfolio
Templeton China Fund W(acc)GBP
Growth Of 1000 (GBP) 31/03/2025
Fund:  Templeton China Fund W(acc)GBP
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Morningstar Restructure Date: 01/03/2019
Effective 01/03/2019, this fund's investment strategy changed to the extent that its record prior to that date is not relevant to its new format. Performance prior to that date is not shown.
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return33.89-20.53-21.58-25.4014.8910.88
+/- Category-0.04-5.72-5.79-5.020.593.06
+/- Category Index-0.57-11.18-10.32-4.96-0.39
% Rank in Category467482834723
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-1.97   1.091.06
1 Week-4.72   -0.13-0.32
1 Month-1.35   1.921.50
3 Months7.57   1.82-1.78
6 Months9.51   11.0610.41
YTD7.48   3.06-0.69
1 Year23.71   5.85-5.59
3 Years Annualised-5.28   -1.99-8.03
5 Years Annualised-4.17   -3.26-4.69
10 Years Annualised-   --
 
Category: China Equity
Category Index: Morningstar China TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
202510.88---
2024-1.602.7911.481.89
20232.18-14.50-1.21-13.56
2022-17.8415.34-20.313.85
2021-1.735.45-16.55-8.10
2020-5.0220.989.516.40
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAbove Average1 star
5-YearLowHigh1 star
10-Year - - -
Overall*LowHigh1 star
 
Category :  China EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev32.50 %
3-Yr Mean Return1.79 %
 
3-Yr Sharpe Ratio-0.07
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta1.061.06
3-Yr Alpha-6.61-6.61
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 81954-
Market Capitalisation% of Equity
Giant82.41
Large12.85
Medium3.58
Small1.16
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.991.08
Price/Book2.041.25
Price/Sales1.571.05
Price/Cash Flow10.531.06
Dividend-Yield Factor2.450.90
 
Long-Term Projected Earnings Growth6.731.00
Historical Earnings Growth7.0518.81
Sales Growth8.433.48
Cash-Flow Growth10.632.71
Book-Value Growth5.941.26
 
Category: China Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock94.750.0094.75
Bond0.000.000.00
Property0.000.000.00
Cash2.300.002.30
Other2.950.002.95
World Regions28/02/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom0.000.00
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.000.00
Middle East0.00-
Japan0.000.00
Australasia0.00-
Asia - Developed1.940.29
Asia - Emerging98.061.07
 
Category: China Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials1.820.71
Consumer CyclicalConsumer Cyclical41.341.41
Financial ServicesFinancial Services14.890.87
Real EstateReal Estate1.190.40
Consumer DefensiveConsumer Defensive5.280.93
HealthcareHealthcare1.250.27
UtilitiesUtilities1.000.61
Communication ServicesCommunication Services16.170.96
EnergyEnergy0.950.48
IndustrialsIndustrials5.250.68
TechnologyTechnology10.871.14
 
Category: China Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings48
Total Number of Bond Holdings0
Assets in Top 10 Holdings54.96
NameSectorCountry% of Assets
Tencent Holdings Ltd308China9.64
Alibaba Group Holding Ltd Ordinary Sh... 102China9.44
Xiaomi Corp Class B311China7.86
Meituan Class B102China6.40
China Construction Bank Corp Class H103China4.86
BYD Co Ltd Class H102China3.86
JD.com Inc Ordinary Shares - Class A102China3.56
Trip.com Group Ltd102China3.27
Focus Media Information Technology Co... 308China3.12
Royal Bank of Canada 4.3%Canada2.95
 
Increase Decrease New since last portfolio
Category: China Equity
 
Management
Name of CompanyFranklin Templeton International Services S.à r.l.
Phone+352 46 66 67 212
Websitewww.franklintempleton.lu
Address8A, rue Albert Borschette
 Luxembourg   L-1246
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date31/05/2012
Fund Advisor(s)
Templeton Asset Management Ltd.
Fund ManagerMichael Lai
Manager Start Date05/08/2019
 
Biography
He joined Franklin Templeton in August 2019. Prior to joining Franklin Templeton, he was lead portfolio manager of GAM Investments’ (GAM) China equity strategy since its inception in 2007. He also headed GAM’s Asian equity team in Hong Kong and was lead portfolio manager of GAM’s Asian strategy and co-manager for additional strategies. Lai is responsible for managing Asian funds. Before joining GAM in 1998, he was is senior vice president with TCW Asset Management Company, TCW Asia Limited and Trust Company of the West. Previously, he was as associate director with BZW Investment Management Hong Kong from August 1994 to June 1997 and a fund manager with Lehman Brothers Global Asset Management. Lai holds the Chartered Financial Analyst designation.
Fund ManagerEric Mok
Manager Start Date28/02/2020
Career Start Year1998
Education
Hong Kong Univ. of Sci. &Tech, M.S.
Hong Kong Univ. of Sci. &Tech, M.S.
 
Biography
Eric Mok is a senior vice president, senior executive director, and portfolio manager of Templeton Asian equity strategies. He also has research responsibilities for companies in the technology sector across global emerging markets as well as companies in China and Taiwan. Prior to joining Franklin Templeton in 1998, Mr. Mok was a junior accountant with Rebecca Ling Chartered Accountant. He entered the financial services industry in 1998. Mr. Mok holds an M.S. in investment management from The Hong Kong University of Science and Technology and a B.S. in actuarial science and economics from the University of Toronto. He is a Chartered Financial Analyst (CFA) charterholder and speaks English, Cantonese and Mandarin.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.10%
Ongoing Charge1.40%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes