Morningstar Fund Report  | 01/04/2025Print

First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP
Fund5.2-2.86.5-2.4-3.1
+/-Cat6.79.32.4-10.5-4.4
+/-B’mrk6.15.12.5-11.4-4.1
 
Category: Global Emerging Markets Equity
Category Benchmark: Morningstar EM TME NR USD
Key Stats
NAV
31/03/2025		 GBP 5.20
Day Change -2.12%
Morningstar Category™ Global Emerging Markets Equity
IA (formerly IMA) Sector Global Emerging Markets
ISIN GB0033873919
Fund Size (Mil)
31/03/2025		 GBP 368.67
Share Class Size (Mil)
31/03/2025		 GBP 36.64
Max Initial Charge -
Ongoing Charge
19/02/2025		  1.41%
Morningstar Research
Analyst Report12/04/2024
Claire Liang, Senior Analyst
Morningstar, Inc

Stewart Investors Global Emerging Markets Leaders Sustainability continues to benefit from a capable investment team and a best-in-class investment approach. We reiterate the strategy’s Above Average People rating and High Process rating. The...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent23
Process25
Performance
Price
Investment Objective: First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP
The Fund aims to achieve capital growth over the long-term (at least five years). The Fund invests in equity or equity-related securities of large and mid-capitalisation companies that are incorporated or listed in Emerging Markets, or those of companies listed on developed market exchanges where a majority of their activities take place in Emerging Market countries.
Returns
Trailing Returns (GBP)31/03/2025
YTD-8.42
3 Years Annualised-2.55
5 Years Annualised4.99
10 Years Annualised1.38
12 Month Yield 0.13
Management
Manager Name
Start Date
Jack Nelson
01/04/2022
David Gait
01/04/2022
Inception Date
01/12/2003

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI EM NR GBPMorningstar EM TME NR USD
Portfolio Profile for  First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.530.0099.53
Bond0.000.000.00
Property0.000.000.00
Cash0.470.000.47
Other0.000.000.00
Top 5 Regions%
Asia - Emerging38.02
Asia - Developed33.71
Latin America14.50
United States6.08
Eurozone3.35
Top 5 Sectors%
Technology40.69
Industrials17.73
Consumer Cyclical11.77
Consumer Defensive11.50
Financial Services9.24
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology8.83
HDFC Bank LtdFinancial ServicesFinancial Services5.96
Samsung Electronics Co LtdTechnologyTechnology5.25
Mahindra & Mahindra LtdConsumer CyclicalConsumer Cyclical4.98
Tata Consultancy Services LtdTechnologyTechnology4.01
Increase Decrease New since last portfolio
First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP
Growth Of 1000 (GBP) 28/02/2025
Fund:  First Sentier Investors - Stewart Investors Global Emerging Markets Leaders Class A Accumulation GBP
Category:  Global Emerging Markets Equity
Category Index:  Morningstar EM TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-8.03-3.74-0.615.22-2.776.50-2.40-3.07
+/- Category3.25-18.00-14.666.689.302.39-10.51-4.44
+/- Category Index-0.56-18.10-14.506.095.082.52-11.41-4.07
% Rank in Category1610094147239897
Trailing Returns (GBP)31/03/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.12   -1.34-1.48
1 Week-3.24   -2.26-2.06
1 Month-5.52   -5.17-5.35
3 Months-8.42   -8.48-8.78
6 Months-9.27   -8.36-7.92
YTD-8.42   -9.00-8.96
1 Year-6.91   -11.91-13.26
3 Years Annualised-2.55   -4.92-5.65
5 Years Annualised4.99   -2.17-3.11
10 Years Annualised1.38   -3.61-4.61
 
Category: Global Emerging Markets Equity
Category Index: Morningstar EM TME NR USD
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2024-3.981.790.80-0.93
20231.580.86-2.016.09
20220.01-5.692.590.49
20210.254.301.91-1.25
2020-24.1216.321.0511.45
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageLow3 star
5-YearAverageLow3 star
10-YearLowLow2 star
OverallBelow AverageLow3 star
 
Category :  Global Emerging Markets EquityClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev9.96 %
3-Yr Mean Return0.96 %
 
3-Yr Sharpe Ratio-0.29
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar EM TME NR USD  Morningstar EM SMID TME NR USD
3-Yr Beta0.720.86
3-Yr Alpha-3.34-3.63
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 25555-
Market Capitalisation% of Equity
Giant58.87
Large18.91
Medium16.15
Small6.08
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings19.911.68
Price/Book2.861.73
Price/Sales1.861.24
Price/Cash Flow11.631.81
Dividend-Yield Factor1.830.57
 
Long-Term Projected Earnings Growth10.611.01
Historical Earnings Growth10.731.93
Sales Growth10.552.30
Cash-Flow Growth9.902.12
Book-Value Growth15.021.73
 
Category: Global Emerging Markets Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.530.0099.53
Bond0.000.000.00
Property0.000.000.00
Cash0.470.000.47
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States6.087.25
Canada0.000.00
Latin America14.501.58
United Kingdom0.000.00
Eurozone3.352.61
Europe - ex Euro0.000.00
Europe - Emerging2.180.99
Africa2.160.63
Middle East0.000.00
Japan0.000.00
Australasia0.00-
Asia - Developed33.711.16
Asia - Emerging38.020.78
 
Category: Global Emerging Markets Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Consumer CyclicalConsumer Cyclical11.770.80
Financial ServicesFinancial Services9.240.38
Consumer DefensiveConsumer Defensive11.502.42
HealthcareHealthcare6.791.94
Communication ServicesCommunication Services2.280.22
IndustrialsIndustrials17.732.71
TechnologyTechnology40.691.64
 
Category: Global Emerging Markets Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings39
Total Number of Bond Holdings0
Assets in Top 10 Holdings45.93
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan8.83
HDFC Bank Ltd103India5.96
Samsung Electronics Co Ltd311Korea, Republic Of5.25
Mahindra & Mahindra Ltd102India4.98
Tata Consultancy Services Ltd311India4.01
EPAM Systems Inc311United States3.53
Techtronic Industries Co Ltd310Hong Kong3.37
Airtac International Group310Taiwan3.37
Jeronimo Martins SGPS SA205Portugal3.34
Infosys Ltd311India3.29
 
Increase Decrease New since last portfolio
Category: Global Emerging Markets Equity
 
Management
Name of CompanyFirst Sentier Investors (UK) Funds Ltd
Phone+44 20 73326500
Websitehttps://www.firstsentierinvestors.com
AddressFinsbury Circus House, 15 Finsbury Circus
 London   EC2M 7EB
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date01/12/2003
Fund Advisor(s)
First Sentier Investors (UK) IM Limited
Fund ManagerJack Nelson
Manager Start Date01/04/2022
Career Start Year2011
 
Biography
Jack Nelson is a Portfolio Manager at Stewart Investors. He joined the team in September 2011 as a graduate. Jack is Lead Manager of the Global Emerging Markets Leaders Sustainability strategy. He holds a MA (Oxon) in Politics, Philosophy and Economics from Queen’s College, Oxford.
Fund ManagerDavid Gait
Manager Start Date01/04/2022
Career Start Year1997
Education
University of Cambridge, M.A.
Stirling University, M.S.
 
Biography
David Gait is Head of the Stewart Investors Investment Team and a Portfolio Manager. He sits on the Stewart Investors Board. David joined the team as a graduate in 1997. He is Lead Manager of the Asia Pacific Leaders Sustainability and Asia Pacific Sustainability strategies, as well as Pacific Assets Trust. David holds an MA with honours in Economics from Cambridge University, and holds a Master of Science in Investment Analysis from Stirling University.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.41%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional500  GBP
Savings50  GBP
Tax Free Savings Schemes
ISAsYes