Morningstar Fund Report  | 13/04/2025Print

UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc
Fund-24.5-9.9-19.27.29.9
+/-Cat-9.75.91.2-7.12.2
+/-B’mrk-3.40.5-4.1-12.6-1.3
 
Category: China Equity
Category Benchmark: Morningstar China TME NR USD
Key Stats
NAV
11/04/2025		 USD 167.54
Day Change -0.25%
Morningstar Category™ China Equity
ISIN LU0403296170
Fund Size (Mil)
11/04/2025		 USD 2663.79
Share Class Size (Mil)
11/04/2025		 USD 284.37
Max Initial Charge 5.00%
Ongoing Charge
14/02/2025		  1.30%
Morningstar Research
Analyst Report23/05/2024
Claire Liang, Senior Analyst
Morningstar, Inc

UBS (Lux) Equity Fund China Opportunity continues to benefit from a skilled lead manager and a time-tested investment approach, but our conviction has been tempered by the supporting cast’s high turnover and slow development. The strategy’s...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process24
Performance
Price
Investment Objective: UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc
The Fund’s investment objective consists in generating strong capital appreciation with a reasonable level of income, while giving due consideration to capital security and the liquidity of the Fund’s assets. The sub-fund invests at least two-thirds of its assets in shares and other equity interests of companies that are either domiciled or chiefly active in China. Investors should note that the sub-fund’s exposure may also include Chinese A shares traded via Shanghai-Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect. Chinese A shares are renminbi-denominated A shares of companies domiciled in mainland China; these are traded on Chinese stock exchanges such as the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
Returns
Trailing Returns (GBP)11/04/2025
YTD0.62
3 Years Annualised-4.61
5 Years Annualised-6.19
10 Years Annualised4.06
12 Month Yield 0.00
Management
Manager Name
Start Date
Bin Shi
28/08/2015
Morris Wu
14/06/2019
Inception Date
28/02/2014

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China 10/40 NR USDMorningstar China TME NR USD
Portfolio Profile for  UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.840.0098.84
Bond0.000.000.00
Property0.000.000.00
Cash8.417.261.16
Other0.000.000.00
Top 5 Regions%
Asia - Emerging94.38
Asia - Developed5.62
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Communication Services23.02
Consumer Defensive18.47
Consumer Cyclical17.60
Financial Services16.37
Real Estate8.98
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services9.77
Kweichow Moutai Co Ltd Class AConsumer DefensiveConsumer Defensive8.80
NetEase Inc ADRCommunication ServicesCommunication Services8.66
Alibaba Group Holding Ltd ADRConsumer CyclicalConsumer Cyclical7.19
China Merchants Bank Co Ltd Class HFinancial ServicesFinancial Services4.84
Increase Decrease New since last portfolio
UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  UBS (Lux) Equity Fund - China Opportunity (USD) Q USD acc
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-8.6837.3825.49-24.51-9.87-19.167.249.94
+/- Category6.3017.68-8.43-9.705.911.21-7.062.16
+/- Category Index----3.410.52-4.09-12.61-1.33
% Rank in Category147669315408435
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.25   -0.42-0.52
1 Week-8.80   -2.01-0.22
1 Month-9.07   2.213.08
3 Months3.16   2.36-1.05
6 Months-5.25   0.55-0.92
YTD0.62   2.990.42
1 Year10.45   1.34-6.68
3 Years Annualised-4.61   -0.84-6.34
5 Years Annualised-6.19   -3.34-4.70
10 Years Annualised4.06   3.241.86
 
Category: China Equity
Category Index: Morningstar China TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20259.94---
2024-3.693.5211.97-3.94
2023-1.33-11.04-1.54-6.46
2022-8.189.59-15.716.26
2021-3.39-2.49-16.10-4.49
20200.8316.005.261.93
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAbove Average2 star
5-YearLowAverage1 star
10-YearHighAbove Average5 star
Overall*AverageAbove Average3 star
 
Category :  China EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev30.73 %
3-Yr Mean Return2.23 %
 
3-Yr Sharpe Ratio-0.06
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta1.031.03
3-Yr Alpha-5.94-5.94
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 42289-
Market Capitalisation% of Equity
Giant62.25
Large18.72
Medium16.70
Small1.50
Micro0.83
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings11.300.94
Price/Book1.280.78
Price/Sales1.581.05
Price/Cash Flow14.251.44
Dividend-Yield Factor3.971.46
 
Long-Term Projected Earnings Growth5.650.84
Historical Earnings Growth-3.79-10.11
Sales Growth-2.83-1.17
Cash-Flow Growth-8.04-2.05
Book-Value Growth2.450.52
 
Category: China Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.840.0098.84
Bond0.000.000.00
Property0.000.000.00
Cash8.417.261.16
Other0.000.000.00
World Regions31/03/2025
 % 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 - Developed5.620.85
Asia - Emerging94.381.03
 
Category: China Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials1.260.49
Consumer CyclicalConsumer Cyclical17.600.60
Financial ServicesFinancial Services16.370.96
Real EstateReal Estate8.983.01
Consumer DefensiveConsumer Defensive18.473.25
HealthcareHealthcare8.441.80
Communication ServicesCommunication Services23.021.37
IndustrialsIndustrials3.730.48
TechnologyTechnology2.140.22
 
Category: China Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings49
Total Number of Bond Holdings0
Assets in Top 10 Holdings57.69
NameSectorCountry% of Assets
Tencent Holdings Ltd308China9.77
Kweichow Moutai Co Ltd Class A205China8.80
NetEase Inc ADR308China8.66
Alibaba Group Holding Ltd ADR102China7.19
China Merchants Bank Co Ltd Class H103China4.84
Far East Horizon Ltd103China4.23
Anhui Gujing Distillery Co Ltd Class B205China3.86
Meituan Class B102China3.76
AIA Group Ltd103Hong Kong3.35
Shenzhen International Holdings Ltd310China3.22
 
Increase Decrease New since last portfolio
Category: China Equity
 
Management
Name of CompanyUBS Asset Management (Europe) S.A.
Phone+352 4 36 16 11
Websitewww.credit-suisse.com
Address5, rue Jean Monnet
 Luxembourg   L-2180
 Luxembourg
DomicileLuxembourg
Legal StructureFCP
UCITSYes
Inception Date28/02/2014
Fund Advisor(s)
UBS Asset Management (HK) Ltd.
Fund ManagerBin Shi
Manager Start Date28/08/2015
Education
Tulane University, M.B.A.
Fudan University
 
Biography
Bin Shi is a member of the Global Emerging Market and Asia Pacific Equities team, located in Hong Kong. He is Country Analyst and Portfolio Manager for China with a focus on Chinese stocks listed on both the overseas and domestic Chinese stock exchanges. Prior to joining UBS Asset Management, Bin spent three years as Head of Int’l Business, portfolio manager and analyst with Boshi Fund Management Co., one of the largest domestic mutual fund companies in China. Prior to that, he worked in the US for eight years as portfolio manager and analyst for several US mutual fund firms. Bin joined UBS in January 2006 and has managed the Greater China Fund since April 2006.
Fund ManagerMorris Wu
Manager Start Date14/06/2019
Career Start Year2005
Education
2005, University of Victoria, M.B.A.
1998, Nankai University, B.A.
 
Biography
Morris is a member of the Global Emerging Markets and Asia Pacific Equities team and is responsible for investment analysis of China/Hong Kong equities. Morris joined UBS Global Asset Management in May 2015. Prior to this, he was a consulting director at BDA China, providing investment advisory services to top tier hedge funds and private equity funds for their investments in China. Morris worked at BDA for 9 years and specialized in the Consumer and TMT sectors.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.08%
Ongoing Charge1.30%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes