Morningstar Fund Report  | 05/04/2025Print

FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR
Fund24.44.820.818.0-6.8
+/-Cat-2.95.15.32.91.8
+/-B’mrk-3.20.65.76.3-1.1
 
Category: India Equity
Category Benchmark: Morningstar India TME NR USD
Key Stats
NAV
04/04/2025		 EUR 18.21
Day Change 0.17%
Morningstar Category™ India Equity
ISIN IE00BYXW3H84
Fund Size (Mil)
03/04/2025		 USD 498.03
Share Class Size (Mil)
03/04/2025		 EUR 8.54
Max Initial Charge 5.00%
Ongoing Charge
29/11/2024		  1.14%
Morningstar Research
Analyst Report19/12/2024
Ramanand Kothari, Senior Analyst
Morningstar, Inc

FSSA Indian Subcontinent continues to impress and remains our high-conviction Indian equity offering. The strategy’s topnotch portfolio manager, a solid investment team with one of the best investment cultures in the region, and a time-tested...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent23
Process25
Performance
Price
Investment Objective: FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR
The Fund invests primarily (at least 70% of its Net Asset Value) in a diversified portfolio of equity securities or equity-related securities issued by companies of the Indian subcontinent. Countries of the Indian subcontinent include India, Pakistan, Sri Lanka and Bangladesh. The Fund concentrates on securities that are listed, traded or dealt in on Regulated Markets in the Indian subcontinent and offshore instruments issued by companies established or operating or have significant interests in the Indian subcontinent and listed on other Regulated Markets.
Returns
Trailing Returns (GBP)04/04/2025
YTD-8.79
3 Years Annualised11.08
5 Years Annualised20.00
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Sreevardhan Agarwal
14/08/2017
Rizi Mohanty
30/11/2024
Click here to see others
Inception Date
03/05/2019

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI India NR USDMorningstar India TME NR USD
Portfolio Profile for  FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.840.0097.84
Bond0.000.000.00
Property0.000.000.00
Cash2.160.002.16
Other0.000.000.00
Top 5 Regions%
Asia - Emerging100.00
United States0.00
Canada0.00
Latin America0.00
United Kingdom0.00
Top 5 Sectors%
Financial Services38.11
Consumer Defensive17.93
Technology11.32
Consumer Cyclical10.45
Basic Materials9.44
Top 5 HoldingsSector%
HDFC Bank LtdFinancial ServicesFinancial Services9.42
ICICI Bank LtdFinancial ServicesFinancial Services7.95
Kotak Mahindra Bank LtdFinancial ServicesFinancial Services6.23
Colgate-Palmolive (India) LtdConsumer DefensiveConsumer Defensive4.60
ICICI Lombard General Insurance ... Financial ServicesFinancial Services4.45
Increase Decrease New since last portfolio
FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR
Growth Of 1000 (GBP) 31/03/2025
Fund:  FSSA Indian Subcontinent Fund Class VI (Accumulation) EUR
Category:  India Equity
Category Index:  Morningstar India TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return5.7424.364.8420.7917.98-6.78
+/- Category-4.22-2.935.135.282.931.79
+/- Category Index--3.200.595.736.26-1.05
% Rank in Category756114162834
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.17   1.910.22
1 Week-2.09   0.020.33
1 Month4.37   0.35-0.08
3 Months-10.75   2.11-0.28
6 Months-10.49   0.791.47
YTD-8.79   2.26-0.54
1 Year1.38   3.686.14
3 Years Annualised11.08   4.415.51
5 Years Annualised20.00   1.05-0.53
10 Years Annualised-   --
 
Category: India Equity
Category Index: Morningstar India TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-6.78---
20244.5312.043.36-2.54
2023-4.009.157.217.52
2022-3.830.2417.54-7.47
20216.675.1912.71-1.67
2020-24.9918.984.9212.92
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearHighAverage5 star
5-YearAbove AverageBelow Average4 star
10-Year--Not Rated
OverallAbove AverageBelow Average4 star
 
Category :  India EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.22 %
3-Yr Mean Return14.23 %
 
3-Yr Sharpe Ratio0.66
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar India TME NR USD  Morningstar India TME NR USD
3-Yr Beta0.830.83
3-Yr Alpha5.255.25
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 14862-
Market Capitalisation% of Equity
Giant49.83
Large26.82
Medium20.31
Small2.05
Micro0.99
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings19.811.18
Price/Book2.171.11
Price/Sales2.841.17
Price/Cash Flow6.100.53
Dividend-Yield Factor1.471.11
 
Long-Term Projected Earnings Growth10.080.51
Historical Earnings Growth20.030.92
Sales Growth13.641.00
Cash-Flow Growth14.462.21
Book-Value Growth18.120.94
 
Category: India Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.840.0097.84
Bond0.000.000.00
Property0.000.000.00
Cash2.160.002.16
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.00-
Latin America0.00-
United Kingdom0.000.00
Eurozone0.00-
Europe - ex Euro0.00-
Europe - Emerging0.00-
Africa0.00-
Middle East0.00-
Japan0.00-
Australasia0.00-
Asia - Developed0.00-
Asia - Emerging100.001.01
 
Category: India Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials9.441.67
Consumer CyclicalConsumer Cyclical10.450.67
Financial ServicesFinancial Services38.111.38
Real EstateReal Estate1.980.72
Consumer DefensiveConsumer Defensive17.932.86
HealthcareHealthcare2.450.27
UtilitiesUtilities1.690.99
IndustrialsIndustrials6.630.64
TechnologyTechnology11.320.93
 
Category: India Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings42
Total Number of Bond Holdings0
Assets in Top 10 Holdings48.14
NameSectorCountry% of Assets
HDFC Bank Ltd103India9.42
ICICI Bank Ltd103India7.95
Kotak Mahindra Bank Ltd103India6.23
Colgate-Palmolive (India) Ltd205India4.60
ICICI Lombard General Insurance Co Ltd103India4.45
Infosys Ltd311India3.43
Nestle India Ltd205India3.36
Tata Consultancy Services Ltd311India3.12
Godrej Industries Ltd310India2.87
HCL Technologies Ltd311India2.72
 
Increase Decrease New since last portfolio
Category: India 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 Date03/05/2019
Fund Advisor(s)
First Sentier Investors (Hong Kong) Limited
Fund ManagerSreevardhan Agarwal
Manager Start Date14/08/2017
 
Biography
Sreevardhan Agarwal is a Portfolio Manager at FSSA Investment Managers, part of First Sentier Investors. Sreevardhan joined FSSA Investment Managers as a graduate in 2014 and provides research support to the portfolio managers, with a focus on Australia, India and the Southeast Asian markets. He is the lead manager of the FSSA Asia Pacific All Cap strategy and the co-manager of the FSSA Indian Subcontinent strategy. Sreevardhan has 9 years of investment experience. He graduated from the National University of Singapore with a management degree and a specialisation in Finance.
Fund ManagerRizi Mohanty
Manager Start Date30/11/2024
 
Biography
Rizi Mohanty is a Portfolio Manager at FSSA Investment Managers, part of First Sentier Investors. Rizi joined FSSA Investment Managers in 2016 and focuses on the Southeast Asian markets in particular and Asia ex-Japan equities in general.  He is the lead manager of the FSSA ASEAN strategy and the co-manager of the FSSA Asia Focus, FSSA Asian Growth and FSSA Asia Opportunities strategies. Rizi has more than 10 years of investment experience. He graduated with an MBA from Harvard Business School and a Bachelor of Technology in Computer Science and Engineering from Indian Institute of Technology (IIT), Kharagpur.
Fund ManagerShivika Srimal
Manager Start Date02/10/2019
 
Biography
Shivika Srimal is an Investment Analyst at FSSA Investment Managers, part of First Sentier Investors. She joined FSSA Investment Managers as a graduate in 2017 and provides research support to the portfolio managers, with a focus on the Indian Subcontinent markets. Shivika has 6 years of investment experience . She has graduated from Singapore Management University with a degree in Economics and an additional major in Finance.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.00%
Ongoing Charge1.14%
Purchase Details
Minimum Investments
Initial1000  EUR
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes