Morningstar Fund Report  | 05/04/2025Print

JSS Equity - All China I USD Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
JSS Equity - All China I USD Acc
Fund-13.3-23.5-22.214.92.8
+/-Cat1.5-7.7-1.80.6-5.0
+/-B’mrk7.8-13.1-7.1-4.9-8.4
 
Category: China Equity
Category Benchmark: Morningstar China TME NR USD
Key Stats
NAV
03/04/2025		 USD 92.50
Day Change -3.44%
Morningstar Category™ China Equity
ISIN LU1900874097
Fund Size (Mil)
31/03/2025		 CHF 205.10
Share Class Size (Mil)
02/04/2025		 USD 10.12
Max Initial Charge -
Ongoing Charge
19/02/2025		  1.28%
Investment Objective: JSS Equity - All China I USD Acc
The investment objective of the fund is to achieve long-term capital growth by investing in companies in China and other investments permitted under the investment policy. The Reference Currency of the Sub-Fund is the US dollar (USD).
Returns
Trailing Returns (GBP)03/04/2025
YTD-0.74
3 Years Annualised-7.87
5 Years Annualised-1.02
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Richard Pan
17/12/2019
David Lin
17/12/2019
Inception Date
17/12/2019

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China All Shares NR USDMorningstar China TME NR USD
Portfolio Profile for  JSS Equity - All China I USD Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.330.0098.33
Bond0.000.000.00
Property0.000.000.00
Cash2.060.391.67
Other0.000.000.00
Top 5 Regions%
Asia - Emerging95.50
Asia - Developed4.50
United States0.00
Canada0.00
Latin America0.00
Top 5 Sectors%
Consumer Cyclical29.30
Technology18.04
Financial Services15.11
Communication Services14.22
Industrials9.60
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services9.69
Alibaba Group Holding Ltd Ordina... Consumer CyclicalConsumer Cyclical9.41
NAURA Technology Group Co Ltd Cl... TechnologyTechnology5.68
BYD Co Ltd Class HConsumer CyclicalConsumer Cyclical5.08
Contemporary Amperex Technology ... IndustrialsIndustrials4.23
Increase Decrease New since last portfolio
JSS Equity - All China I USD Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  JSS Equity - All China I USD Acc
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return56.15-13.29-23.49-22.1714.922.82
+/- Category22.231.52-7.70-1.800.62-5.00
+/- Category Index-7.81-13.09-7.10-4.93-8.45
% Rank in Category133686634787
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-3.44   -0.39-0.41
1 Week-5.48   -0.89-1.08
1 Month-5.62   -2.35-2.77
3 Months2.22   -3.53-7.13
6 Months-4.29   -2.73-3.38
YTD-0.74   -5.17-8.92
1 Year10.27   -7.59-19.04
3 Years Annualised-7.87   -4.59-10.63
5 Years Annualised-1.02   -0.10-1.54
10 Years Annualised-   --
 
Category: China Equity
Category Index: Morningstar China TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20252.82---
20241.025.958.82-1.32
20231.74-14.03-1.75-9.45
2022-14.1713.33-15.00-7.46
2021-3.748.23-13.88-3.35
2020-4.9728.759.0916.98
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-YearAverageBelow Average4 star
10-Year--Not Rated
OverallAverageBelow Average3 star
 
Category :  China EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev23.79 %
3-Yr Mean Return-3.80 %
 
3-Yr Sharpe Ratio-0.33
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta0.760.76
3-Yr Alpha-11.41-11.41
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)CHF 62365-
Market Capitalisation% of Equity
Giant79.21
Large16.43
Medium4.37
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings14.581.21
Price/Book2.321.42
Price/Sales1.771.18
Price/Cash Flow11.941.21
Dividend-Yield Factor2.030.75
 
Long-Term Projected Earnings Growth7.831.17
Historical Earnings Growth4.1711.12
Sales Growth8.183.38
Cash-Flow Growth5.381.37
Book-Value Growth8.381.77
 
Category: China Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.330.0098.33
Bond0.000.000.00
Property0.000.000.00
Cash2.060.391.67
Other0.000.000.00
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 - Developed4.500.68
Asia - Emerging95.501.04
 
Category: China Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials4.621.79
Consumer CyclicalConsumer Cyclical29.301.00
Financial ServicesFinancial Services15.110.89
Real EstateReal Estate1.310.44
Consumer DefensiveConsumer Defensive3.410.60
HealthcareHealthcare4.400.94
Communication ServicesCommunication Services14.220.85
IndustrialsIndustrials9.601.24
TechnologyTechnology18.041.89
 
Category: China Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings58
Total Number of Bond Holdings0
Assets in Top 10 Holdings49.08
NameSectorCountry% of Assets
Tencent Holdings Ltd308China9.69
Alibaba Group Holding Ltd Ordinary Sh... 102China9.41
NAURA Technology Group Co Ltd Class A311China5.68
BYD Co Ltd Class H102China5.08
Contemporary Amperex Technology Co Lt... 310China4.23
China Merchants Bank Co Ltd Class A103China3.74
Kweichow Moutai Co Ltd Class A205China3.33
Lenovo Group Ltd311Hong Kong2.80
Xiaomi Corp Class B311China2.62
Yutong Bus Co Ltd Class A310China2.50
 
Increase Decrease New since last portfolio
Category: China Equity
 
Management
Name of CompanyJ. Safra Sarasin Fund Management (Luxembourg) S.A.
Phone-
Websitewww.jsafrasarasin.com/
Address11-13, Boulevard de la Foire
 Luxembourg   L-1528
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date17/12/2019
Fund Advisor(s)
China Asset Management Co. Ltd. Beijing
Fund ManagerRichard Pan
Manager Start Date17/12/2019
Career Start Year1998
Education
Georgetown University, M.B.A.
Wuhan University, M.A.
Wuhan University, B.S.
 
Biography
Mr. Pan has 21 years of investment experience. Before joining China AMC in 2013, Mr. Pan served as CIO and Deputy CEO of Vstone Capital, overseeing its A-share investments. He worked as a Director/Portfolio Manager at Manulife Asset Management from 2007 to 2011, managing its Greater China funds and QFII A-share fund. He also worked as a Portfolio Manager at United Securities from 2001 to 2004, and worked as a VP at Guotai Junan Securities since 1998. Mr. Pan holds an MBA from Georgetown University in the U.S., MA in Economics and BS in Engineering from Wuhan University.
Fund ManagerDavid Lin
Manager Start Date17/12/2019
Education
University of Illinois, B.S.
 
Biography
David J. Lin, Director of Research. Mr. Lin is the Director of Research of Altair Advisers LLC. He is responsible for leading the research team’s ongoing due diligence efforts, which include identifying, evaluating, selecting, and monitoring investment managers across various asset classes and vehicle structures. Mr. Lin also serves on the Adviser’s Investment Committee. Mr. Lin is a CFA® charterholder and earned his B.S. in Finance from the University of Illinois Urbana-Champaign.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.25%
Ongoing Charge1.28%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsNo