Morningstar Fund Report  | 24/12/2024Print

Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP

Performance History30/11/2024
Growth of 1,000 (GBP) Advanced Graph
Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP
Fund21.9-11.1-17.3-15.819.4
+/-Cat-12.03.7-1.54.68.7
+/-B’mrk-10.0-6.9-0.73.7
 
Key Stats
NAV
23/12/2024
 GBP 36.50
Day Change 0.61%
Morningstar Category™ China Equity
IA (formerly IMA) Sector -
ISIN LU1303224254
Fund Size (Mil)
23/12/2024
 USD 432.30
Share Class Size (Mil)
23/12/2024
 GBP 1.22
Max Initial Charge 5.00%
Ongoing Charge
13/12/2024
  1.20%
Investment Objective: Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP
The Sub-Fund aims to provide long term capital growth primarily through investment in equities or equity-related securities issued by Chinese Companies. Investment exposure to the equities issued by these companies may be gained directly through investment in such equities or indirectly through investment in other transferable securities (including equity linked notes), derivatives or units in collective investment schemes.
Returns
Trailing Returns (GBP)23/12/2024
YTD23.64
3 Years Annualised-5.36
5 Years Annualised-1.47
10 Years Annualised-
12 Month Yield 1.51
Dividend Paying Frequency Annually
Management
Manager Name
Start Date
Wenchang Ma
28/02/2019
Joanna Yang
30/06/2019
Inception Date
29/10/2015

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China All Shares NR USDMorningstar China TME NR USD
Portfolio Profile for  Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP31/10/2024
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.400.0098.40
Bond0.020.000.02
Property0.000.000.00
Cash1.590.011.58
Other0.000.000.00
Top 5 Regions%
Asia - Emerging98.19
Asia - Developed1.81
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Consumer Cyclical26.17
Industrials16.50
Financial Services14.95
Communication Services11.10
Consumer Defensive8.45
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services9.77
Alibaba Group Holding Ltd Ordina... Consumer CyclicalConsumer Cyclical7.16
Meituan Class BConsumer CyclicalConsumer Cyclical6.53
Contemporary Amperex Technology ... IndustrialsIndustrials4.27
Ping An Insurance (Group) Co. of... Financial ServicesFinancial Services4.23
Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP
Growth Of 1000 (GBP) 30/11/2024
Fund:  Ninety One Global Strategy Fund - All China Equity Fund IX Inc GBP
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)30/11/2024
 201720182019202020212022202330/11
Price Return55.47-18.0628.9621.93-11.10-17.31-15.8219.41
+/- Category23.98-3.089.26-11.993.71-1.534.568.69
+/- Category Index----10.00-6.92-0.743.72
% Rank in Category37517792560159
Trailing Returns (GBP)23/12/2024
   Total Returns   +/- Category   +/- Category Index
1 Day0.61   0.290.07
1 Week2.44   0.980.90
1 Month3.49   1.000.61
3 Months19.95   0.481.23
6 Months10.24   1.38-0.82
YTD23.64   10.673.88
1 Year28.57   11.393.20
3 Years Annualised-5.36   3.44-2.21
5 Years Annualised-1.47   1.590.92
10 Years Annualised-   --
 
Quarterly Returns (GBP)30/11/2024
 Quarter 1Quarter 2Quarter 3Quarter 4
20242.547.0013.37-
20232.98-11.12-1.56-6.58
2022-12.078.69-14.531.23
2021-4.616.72-11.43-1.39
2020-4.6116.304.065.63
201919.643.04-1.766.48
 
 
 
Morningstar Rating™(Relative to Category)30/11/2024
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAverage4 star
5-YearAbove AverageBelow Average4 star
10-Year--Not Rated
OverallAbove AverageBelow Average4 star
 
Click here to see our Methodology
Volatility Measurements30/11/2024
 
3-Yr Std Dev24.58 %
3-Yr Mean Return-3.53 %
 
3-Yr Sharpe Ratio-0.29
 
Modern Portfolio Statistics30/11/202430/11/2024
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta0.820.82
3-Yr Alpha-2.85-2.85
 
Investment Style Details31/10/2024
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 49834-
Market Capitalisation% of Equity
Giant67.49
Large23.36
Medium9.15
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.721.17
Price/Book1.911.29
Price/Sales2.071.59
Price/Cash Flow8.070.91
Dividend-Yield Factor2.560.79
 
Long-Term Projected Earnings Growth11.781.46
Historical Earnings Growth6.15-90.48
Sales Growth7.251.32
Cash-Flow Growth17.351.55
Book-Value Growth8.601.36
 
Asset Allocation31/10/2024
Asset Allocation
 % Long% Short% Net Assets
Stock98.400.0098.40
Bond0.020.000.02
Property0.000.000.00
Cash1.590.011.58
Other0.000.000.00
World Regions31/10/2024
 % of EquityRelative to Category
United States0.000.00
Canada0.00-
Latin America0.00-
United Kingdom0.000.00
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.00-
Middle East0.00-
Japan0.000.00
Australasia0.00-
Asia - Developed1.810.24
Asia - Emerging98.191.08
 
Sector Weightings31/10/2024
 % of EquityRelative to Category
Basic MaterialsBasic Materials4.231.40
Consumer CyclicalConsumer Cyclical26.170.90
Financial ServicesFinancial Services14.950.90
Real EstateReal Estate2.260.65
Consumer DefensiveConsumer Defensive8.451.26
HealthcareHealthcare6.271.22
UtilitiesUtilities1.710.97
Communication ServicesCommunication Services11.100.71
EnergyEnergy2.200.91
IndustrialsIndustrials16.501.98
TechnologyTechnology6.150.77
 
Top 10 Holdings31/10/2024
 Portfolio NEW
Total Number of Equity Holdings42
Total Number of Bond Holdings0
Assets in Top 10 Holdings49.87
NameSectorCountry% of Assets
Tencent Holdings Ltd308China9.77
Alibaba Group Holding Ltd Ordinary Sh... 102China7.16
Meituan Class B102China6.53
Contemporary Amperex Technology Co Lt... 310China4.27
Ping An Insurance (Group) Co. of Chin... 103China4.23
China Construction Bank Corp Class H103China3.84
Xiaomi Corp Class B311China3.65
China Merchants Bank Co Ltd Class H103China3.52
Kweichow Moutai Co Ltd Class A205China3.49
Trip.com Group Ltd102China3.41
 
 
Management
Name of CompanyNinety One Luxembourg S.A.
Phone+352 28 12 77 20
Websitewww.ninetyone.com
Address2-4 Avenue Marie-Thérèse, Luxembourg, L-2132
 Luxembourg   L-2132
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date29/10/2015
Fund Advisor(s)
Ninety One UK Limited
Fund ManagerWenchang Ma
Manager Start Date28/02/2019
 
Biography
Wenchang is co-portfolio manager for the All China Equity Strategy in the 4Factor team at Ninety One. Prior to joining the firm in 2014, she worked at J.P. Morgan as an equity research analyst covering transportation and logistics. Prior to joining J.P. Morgan in 2010, she did a similar role at Exane BNP Paribas. Wenchang holds a Bachelor’s degree in Economics from Renmin University of China and an MSc in Management, majoring in Finance from HEC Paris. Wenchang is also a CFA® Charterholder.
Fund ManagerJoanna Yang
Manager Start Date30/06/2019
 
Biography
Joanna is an assistant portfolio manager within Ninety One’s 4Factor team, focusing on the Asia Pacific region. Prior to joining the firm, she worked at Allianz Global Investors, Hong Kong as senior research analyst, covering regional consumer and healthcare sectors. She started her career with Allianz in San Francisco, where she held various roles in Grassroots Research and marketing. Joanna has a Bachelor of Arts degree from the University of California, Berkeley with a major in Architecture and a minor in Business Administration.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge1.20%
Purchase Details
Minimum Investments
Initial1000000  GBP
Additional250000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes