Morningstar Fund Report  | 05/04/2025Print

Wellington All-China Focus Equity FundGBP N AccU

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Wellington All-China Focus Equity FundGBP N AccU
Fund-11.4-16.0-28.315.66.1
+/-Cat3.4-0.3-7.91.3-1.7
+/-B’mrk9.7-5.7-13.2-4.2-5.1
 
Category: China Equity
Category Benchmark: Morningstar China TME NR USD
Key Stats
NAV
03/04/2025		 GBP 10.44
Day Change -2.68%
Morningstar Category™ China Equity
IA (formerly IMA) Sector China/Greater China
ISIN IE00BK5STR80
Fund Size (Mil)
03/04/2025		 USD 72.91
Share Class Size (Mil)
03/04/2025		 GBP 0.02
Max Initial Charge -
Ongoing Charge
21/03/2025		  1.25%
Investment Objective: Wellington All-China Focus Equity FundGBP N AccU
The investment objective of the Fund is to seek long-term total returns. The Investment Manager will actively manage the Fund, seeking to outperform the MSCI China All Shares Index (the "Index”) and achieve the objective, primarily through investment in companies that are located, and/or conduct substantial business activities, in China.
Returns
Trailing Returns (GBP)03/04/2025
YTD3.89
3 Years Annualised-4.58
5 Years Annualised0.89
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Bo Meunier
08/01/2020
Inception Date
08/01/2020

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China All Shares NR USDMorningstar China TME NR USD
Portfolio Profile for  Wellington All-China Focus Equity FundGBP N AccU28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.660.0097.66
Bond0.000.000.00
Property0.000.000.00
Cash3.751.412.34
Other0.000.000.00
Top 5 Regions%
Asia - Emerging89.06
Asia - Developed10.43
United States0.50
Canada0.00
Latin America0.00
Top 5 Sectors%
Consumer Cyclical27.75
Communication Services20.10
Financial Services17.04
Technology11.65
Consumer Defensive6.68
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services8.99
NetEase Inc Ordinary SharesCommunication ServicesCommunication Services7.40
Alibaba Group Holding Ltd ADRConsumer CyclicalConsumer Cyclical7.05
Meituan Class BConsumer CyclicalConsumer Cyclical5.27
Kweichow Moutai Co Ltd Class AConsumer DefensiveConsumer Defensive4.28
Increase Decrease New since last portfolio
Wellington All-China Focus Equity FundGBP N AccU
Growth Of 1000 (GBP) 31/03/2025
Fund:  Wellington All-China Focus Equity FundGBP N AccU
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 202120222023202431/03
Price Return-11.39-16.05-28.2715.616.12
+/- Category3.42-0.27-7.891.31-1.70
+/- Category Index9.71-5.65-13.19-4.25-5.15
% Rank in Category2754944274
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.68   0.380.35
1 Week-3.57   1.030.84
1 Month-1.81   1.461.04
3 Months5.49   -0.26-3.86
6 Months-6.91   -5.35-6.00
YTD3.89   -0.54-4.28
1 Year17.18   -0.68-12.12
3 Years Annualised-4.58   -1.29-7.33
5 Years Annualised0.89   1.810.37
10 Years Annualised-   --
 
Category: China Equity
Category Index: Morningstar China TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20256.12---
20241.263.5514.08-3.35
2023-4.27-14.96-1.19-10.83
2022-18.2615.56-13.512.76
2021-2.397.68-14.38-1.53
2020-34.5810.6511.30
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAverage2 star
5-YearAbove AverageAverage4 star
10-Year--Not Rated
OverallAverageAverage3 star
 
Category :  China EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev26.09 %
3-Yr Mean Return-0.11 %
 
3-Yr Sharpe Ratio-0.16
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta0.860.86
3-Yr Alpha-7.92-7.92
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 67641-
Market Capitalisation% of Equity
Giant84.51
Large12.89
Medium2.09
Small0.51
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings14.751.22
Price/Book2.371.45
Price/Sales1.671.11
Price/Cash Flow10.571.07
Dividend-Yield Factor2.600.96
 
Long-Term Projected Earnings Growth7.251.08
Historical Earnings Growth5.4514.54
Sales Growth2.731.13
Cash-Flow Growth13.963.57
Book-Value Growth5.191.10
 
Category: China Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.660.0097.66
Bond0.000.000.00
Property0.000.000.00
Cash3.751.412.34
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.500.92
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 - Developed10.431.57
Asia - Emerging89.060.97
 
Category: China Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical27.750.94
Financial ServicesFinancial Services17.041.00
Real EstateReal Estate2.570.86
Consumer DefensiveConsumer Defensive6.681.18
HealthcareHealthcare6.431.37
UtilitiesUtilities4.052.49
Communication ServicesCommunication Services20.101.20
EnergyEnergy2.551.30
IndustrialsIndustrials1.180.15
TechnologyTechnology11.651.22
 
Category: China Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings43
Total Number of Bond Holdings0
Assets in Top 10 Holdings51.21
NameSectorCountry% of Assets
Tencent Holdings Ltd308China8.99
NetEase Inc Ordinary Shares308China7.40
Alibaba Group Holding Ltd ADR102China7.05
Meituan Class B102China5.27
Kweichow Moutai Co Ltd Class A205China4.28
PICC Property and Casualty Co Ltd Cla... 103China4.16
Midea Group Co Ltd Class A102China4.02
Hong Kong Exchanges and Clearing Ltd103Hong Kong3.66
Will Semiconductor Co Ltd Shanghai Cl... 311China3.32
MediaTek Inc311Taiwan3.04
 
Increase Decrease New since last portfolio
Category: China Equity
 
Management
Name of CompanyWellington Luxembourg S.à r.l.
Phone-
Websitehttp://www.wellingtonfunds.com
Address33, Avenue de la Liberté
 Luxembourg   L-1931
 Luxembourg
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date08/01/2020
Fund Advisor(s)
Wellington Management Hong Kong Ltd
Fund ManagerBo Meunier
Manager Start Date08/01/2020
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.95%
Ongoing Charge1.25%
Purchase Details
Minimum Investments
Initial5000  GBP
Additional1000  GBP
Savings-
Tax Free Savings Schemes
ISAsYes