Investment objective and policy

The Fund aims to achieve capital growth over the long term (at least five years).

The Fund invests in shares of companies based in or where the majority of their activities take place in India, Pakistan, Sri Lanka or Bangladesh. The Fund invests in shares of high-quality companies which are positioned to contribute to, and benefit from, sustainable development. Investment decisions around high quality companies are based on three key points: (i) Quality of management. (ii) Quality of the company including its social usefulness, their environmental impacts and efficiency and responsible business practices. (iii) Quality of the company's finances and their financial performance. Sustainability is a key part of the approach. The Fund may invest up to 10% in other funds. The Fund may use derivatives to reduce risk or to manage the Fund more efficiently.

This page is updated monthly. Visit Fund literature page for monthly Factsheets, Quarterly Reports, KIIDS and Prospectuses.

Stewart Investors Indian Subcontinent Sustainability Fund

Overview of Stewart Investors Indian Subcontinent Sustainability Fund performance

Fund name Fund type Currency Price Daily change Price date Factsheet
Stewart Investors Indian Subcontinent Sustainability Class E (Acc) Irish UCITs USD 12.35 -0.80 29 May 2024

Fund information (as at 30/04/2024)

Fund launch date 17 January 2023
Share class launch date 17 January 2023
Fund size (US$m) 6.8
Benchmark MSCI India Net Index
Number of holdings 36
Fund managers Sashi Reddy/David Gait
Minimum investment US$1000
Initial charge 0%
Ongoing charges^^ 1.05%
Share type ACCUMULATION
Sedol BF18T99
ISIN IE00BF18T991
Research rating** Morningstar®:Gold

Top 10 holdings (as at 30/04/2024)

Stock name %
Mahindra & Mahindra Ltd. 8.3
Tube Investments of India Limited 6.5
HDFC Bank INR1 5.6
CG Power & Industrial Solutions Ltd 5.1
Triveni Turbine Ltd 4.3
Dr. Reddy's Laboratories Ltd. 4.0
Aavas Financiers Ltd. 3.9
Godrej Consumer Products Limited 3.8
Kotak Mahindra Bank Limited 3.7
Cyient Limited 3.4

Performance

Annualised performance as at 30 Apr 2024

Annual performance (% in USD) Share type 12 mths to 30 Apr 2024 12 mths to 30 Apr 2023 12 mths to 30 Apr 2022 12 mths to 30 Apr 2021 12 mths to 30 Apr 2020
Stewart Investors Indian Subcontinent Sustainability Fund Class VI (Acc) 21.8 - - - -
Benchmark * - 34.4 - - - -

Annualised performance as at 30 Apr 2024

Strategy
Fund
Benchmark *
Strategy
Benchmark *
Share type
Class VI (Acc)
-
Share type
-
12 mths to 30 Apr 2024
21.8
34.4
12 mths to 30 Apr 2024
34.4
12 mths to 30 Apr 2023
-
-
12 mths to 30 Apr 2023
-
12 mths to 30 Apr 2022
-
-
12 mths to 30 Apr 2022
-
12 mths to 30 Apr 2021
-
-
12 mths to 30 Apr 2021
-
12 mths to 30 Apr 2020
-
-
12 mths to 30 Apr 2020
-

Cumulative performance as at 30 Apr 2024

Cumulative performance (% in USD) Share type Launch date 3mths 6mths 1yr 3yrs 5yrs 10yrs Since launch
Stewart Investors Indian Subcontinent Sustainability Fund Class VI (Acc) 17 Jan 2023 3.7 13.4 21.8 - - - 19.5
Benchmark * - - 6.0 25.2 34.4 - - - 29.9

Cumulative performance as at 30 Apr 2024

Strategy
Fund
Benchmark *
Strategy
Benchmark *
Share type
Class VI (Acc)
-
Share type
-
Launch date
17 Jan 2023
-
Launch date
-
3mths
3.7
6.0
3mths
6.0
6mths
13.4
25.2
6mths
25.2
1yr
21.8
34.4
1yr
34.4
3yrs
-
-
3yrs
-
5yrs
-
-
5yrs
-
10yrs
-
-
10yrs
-
Since launch
19.5
29.9
Since launch
29.9

* MSCI India Net Index

These figures refer to the past. Past performance including simulated past performance is not a reliable indicator of future results. For investors based in countries with currencies other than EUR, the return may increase or decrease as a result of currency fluctuations. The past performance shown here includes fees, any reinvested income and tax.

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Sector breakdown as at 30 Apr 2024

Country breakdown as at 30 Apr 2024

Fund level reporting to 31 Dec 2023

The SFDR Level 2 reporting template for each of our Article 9 funds is available in a standalone document and also within the First Sentier Investors Global Umbrella Fund plc 2022 Annual Report. The social and environmental outcomes for the Funds are below:

  • As at 31 December 2023, the Fund held 37 companies.
  • All companies (100%) were contributing to at least one human development pillar and, in total, were making 107 contributions to the pillars.
  • 22 companies (59%) were contributing to climate change solutions. These companies were contributing to 38 different solutions and, in total, were making 78 contributions to the solutions.

The social and environmental outcomes for the Fund are provided in the charts.

Full information on our ESG/Sustainability Fund reporting is available here.

Risk Factors

The value of investments and any income from them may go down as well as up and is not guaranteed. Investors may get back significantly less than the original amount invested.

The Fund may also experience the following risks:

Emerging market risk: Emerging markets tend to be more sensitive to economic and political conditions than developed markets. Other factors include greater liquidity risk, restrictions on investment or transfer of assets, failed/delayed settlement and difficulties valuing securities.

Currency risk: The Fund invests in assets which are denominated in other currencies; changes in exchange rates will affect the value of the Fund and could create losses. Currency control decisions made by governments could affect the value of the Fund's investments and could cause the Fund to defer or suspend redemptions of its shares.

Indian subcontinent risk: although India has seen rapid economic and structural development, investing there may still involve increased risks of political and governmental intervention, potentially limitations on the allocation of the Fund's capital, and legal, regulatory, economic and other risks including greater liquidity risk, restrictions on investment or transfer of assets, failed/delayed settlement and difficulties valuing securities.

For further information on risks, please refer to the Risk Factors section in the Company prospectus.

Investment should be made on the basis of the Prospectus and Key Investor Information Document. If you are in any doubt as to the suitability of any of our funds for your investment needs, please seek independent financial advice.

Portfolio Explorer

Explore the companies held within our Indian Subcontinent Sustainability Strategy.

Insights

Latest articles, research and reports from Stewart Investors.

Important information

These figures refer to the past. Past performance is not a reliable indicator of future results. For investors based in countries with currencies other than USD, the return may increase or decrease as a result of currency fluctuations.

All performance data for the Stewart Investors Indian Subcontinent Sustainability Fund Class VI (Accumulation) USD as at specified date. Source for fund - Lipper IM / Stewart Investors. Performance data is calculated on a net basis by deducting fees incurred at fund level (e.g. the management fee and other fund expenses), save that it does not take account of initial charges or switching fees (if any). Income reinvested is included on a net of tax basis. Source for benchmark - MSCI, income reinvested net of tax.

^ An initial charge of up to 5% may be levied in certain circumstances, including on regular savings plans and may be remitted as commission to an intermediary.

^^ The ongoing charge figure (OCF) is calculated on the same basis as for the Key Investor Information Document and represents the charges you will pay over a year for as long as you hold your investment and may vary from year to year. The OCF is made up of the annual management charge and additional expenses, but excludes portfolio transaction costs. For further information about charges and costs please visit https://www.firstsentierinvestors.com/uk/en/private/charges-overview.html.

** This does not constitute an investment recommendation and is not indicative of future results. Methodology available on rating provider's website.