Stewart Investors Indian Subcontinent Sustainability Fund Class B Acc USD
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 quarterly. Visit Fund literature page for monthly Factsheets, Quarterly Reports, KIIDS and Prospectuses.
| Fund launch date | 15 November 2006 |
|---|---|
| Share class launch date | 08 December 2014 |
| Fund size (US$m) | 615.0 |
| UK's Investment Association Sector | Specialist |
| Benchmark | MSCI India Net Index* |
| Number of holdings | 36 |
| Fund manager(s) | Sashi Reddy & David Gait |
| Minimum investment | US$1000/US$500 subsequent |
| Initial charge | 0%^ |
| Ongoing charges^^ | 1.01% |
| Share type | Accumulation |
| Sedol | B84RNC5 |
| ISIN | GB00B84RNC52 |
| Research rating** | Morningstar®:Gold |
| Square Mile:Responsible AA | |
| RSM:Rated | |
| Fund yield | 0.0% |
| Stock name | % |
|---|---|
| Mahindra & Mahindra | 7.5 |
| CG Power & Industrial Solutions | 6.9 |
| HDFC | 6.8 |
| Tube Investments of India | 6.0 |
| Kotak Mahindra Bank | 4.7 |
| Aavas Financiers | 3.9 |
| Godrej Consumer Products | 3.4 |
| Tata Consumer Products | 3.3 |
| Dr Lal Pathlabs | 3.3 |
| Marico | 3.3 |
Top ten holdings (as at 31/03/2023)
Mahindra & Mahindra
- %
- 7.5
CG Power & Industrial Solutions
- %
- 6.9
HDFC
- %
- 6.8
Tube Investments of India
- %
- 6.0
Kotak Mahindra Bank
- %
- 4.7
Aavas Financiers
- %
- 3.9
Godrej Consumer Products
- %
- 3.4
Tata Consumer Products
- %
- 3.3
Dr Lal Pathlabs
- %
- 3.3
Marico
- %
- 3.3
Performance
| Period | 12 months to 31/03/23 | 12 months to 31/03/22 | 12 months to 31/03/21 | 12 months to 31/03/20 | 12 months to 31/03/19 |
|---|---|---|---|---|---|
| Fund return | -1.0 | 9.8 | 80.1 | -25.9 | 0.7 |
| Benchmark return | -12.2 | 17.9 | 76.4 | -30.9 | 6.8 |
Discrete annual performance (% in USD) to 31/03/2023
Fund return
- 12 months to 31/03/23
- -1.0
- 12 months to 31/03/22
- 9.8
- 12 months to 31/03/21
- 80.1
- 12 months to 31/03/20
- -25.9
- 12 months to 31/03/19
- 0.7
Benchmark return
- 12 months to 31/03/23
- -12.2
- 12 months to 31/03/22
- 17.9
- 12 months to 31/03/21
- 76.4
- 12 months to 31/03/20
- -30.9
- 12 months to 31/03/19
- 6.8
| Period | 3 months | 6 months | 1 year | 3 years | 5 years | 10 years | Since launch |
|---|---|---|---|---|---|---|---|
| Fund return | -0.7 | -2.4 | -1.0 | 95.8 | 46.1 | - | 85.9 |
| Benchmark return | -6.4 | -4.5 | -12.2 | 82.6 | 34.8 | - | 55.1 |
Cumulative performance (% in USD) to 31/03/2023
Fund return
- 3 months
- -0.7
- 6 months
- -2.4
- 1 year
- -1.0
- 3 years
- 95.8
- 5 years
- 46.1
- 10 years
- -
- Since launch
- 85.9
Benchmark return
- 3 months
- -6.4
- 6 months
- -4.5
- 1 year
- -12.2
- 3 years
- 82.6
- 5 years
- 34.8
- 10 years
- -
- Since launch
- 55.1
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.
Sector breakdown
Country breakdown
Fund level reporting to 31 December 2022
- As at 31 December 2022, the Fund held 37 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 105 contributions to the pillars.
- 22 companies (59%) were contributing to climate change solutions. These companies were contributing to 33 different solutions and, in total, were making 68 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.
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 B (Accumulation) USD as at 31 March 2023. 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. Since inception performance figures have been calculated from 08 December 2014.
* The benchmark for this Fund has been identified as a means by which investors can compare the performance of the Fund and has been chosen because its constituents most closely represent the scope of the investable assets. The benchmark is not used to limit or constrain how the portfolio is constructed nor is it part of a target set for Fund performance. Given the diverse nature of the constituent funds within the Specialist IA sector the manager does not compare performance of this Fund with its IA sector.
^ An initial charge of up to 4% 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.
