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 large and mid-sized companies in emerging markets or where the majority of their activities take place in emerging markets. This includes companies that are listed on exchanges in developed markets. These companies generally have a total stock market value of at least US$1 billion. Emerging market countries are those which are not classified as developed markets by MSCI or FTSE, or which are categorised by the World Bank as middle or low-income, or which are not members of the Organisation for Economic Co-operation and Development. 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 Global Emerging Markets Leaders Fund

Overview of Stewart Investors Global Emerging Markets Leaders Fund performance

Fund name Fund type Currency Price Daily change Price date Factsheet
Stewart Investors Global Emerging Markets Leaders Class B (Acc) OEIC GBP 645.60 -0.08 15 Jul 2024

Fund information (as at 30/06/2024)

Fund launch date 01 December 2003
Share class launch date 24 January 2023
Fund size (US$m) 579.5
UK Investment Assocation sector Specialist
Benchmark MSCI Emerging Markets Net Index
Number of holdings 39
Fund managers Jack Nelson/David Gait
Available as ISA yes
Minimum investment US$1000/US$500 subsequent
Initial charge 0%
Ongoing charges^^ 0.77%
Share type ACCUMULATION
Sedol BD8NP40
ISIN GB00BD8NP409
Research rating** Morningstar®:Silver
Fund yield 0.9%

Top 10 holdings (as at 30/06/2024)

Stock name %
Taiwan Semiconductor Manufacturing Co., Ltd. 8.2
HDFC Bank INR1 6.2
Samsung Electronics Co., Ltd. 5.9
Mahindra & Mahindra Ltd. 5.7
Unicharm Corporation 4.5
Tata Consultancy Services Limited 4.5
Delta Electronics, Inc. 3.8
Jeronimo Martins, SGPS S.A. 3.5
Infosys Limited 3.3
Kotak Mahindra Bank Limited 3.1

Performance

Annualised performance as at 30 Jun 2024

Annual performance (% in USD) Share type 12 mths to 30 Jun 2024 12 mths to 30 Jun 2023 12 mths to 30 Jun 2022 12 mths to 30 Jun 2021 12 mths to 30 Jun 2020
Stewart Investors Global Emerging Markets Leaders Fund Class B (Acc) 2.3 - - - -
Benchmark * - 12.5 - - - -

Annualised performance as at 30 Jun 2024

Strategy
Fund
Benchmark *
Share type
Class B (Acc)
-
12 mths to 30 Jun 2024
2.3
12.5
12 mths to 30 Jun 2023
-
-
12 mths to 30 Jun 2022
-
-
12 mths to 30 Jun 2021
-
-
12 mths to 30 Jun 2020
-
-

Cumulative performance as at 30 Jun 2024

Cumulative performance (% in USD) Share type Launch date 3mths 6mths 1yr 3yrs 5yrs 10yrs Since launch
Stewart Investors Global Emerging Markets Leaders Fund Class B (Acc) 24 Jan 2023 2.3 -2.6 2.3 - - - 4.4
Benchmark * - - 5.0 7.5 12.5 - - - 8.6

Cumulative performance as at 30 Jun 2024

Strategy
Fund
Benchmark *
Share type
Class B (Acc)
-
Launch date
24 Jan 2023
-
3mths
2.3
5.0
6mths
-2.6
7.5
1yr
2.3
12.5
3yrs
-
-
5yrs
-
-
10yrs
-
-
Since launch
4.4
8.6

* MSCI Emerging Markets 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 that of the above, 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 31 May 2024

Country breakdown as at 31 May 2024

Fund level reporting to 31 Dec 2023

  • As at 31 December 2023, the Fund held 47 companies.
  • All companies (100%) were contributing to at least one human development pillar and, in total, were making 133 contributions to the pillars.
  • 30 companies (64%) were contributing to climate change solutions. These companies were contributing to 31 different solutions and, in total, were making 96 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.

Concentration risk: the Fund invests in a relatively small number of companies which may be riskier than a fund that invests in a large number of companies.

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 Global Emerging Markets Leaders 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 Global Emerging Markets Leaders Fund Class B (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. Since inception performance figures have been calculated from 01 December 2003.

* 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.

¬ Jack Nelson took over management of the fund on 1 April 2022.

^ An initial charge of up to 4% may be levied in certain circumstances, e.g. to limit the size of the fund, 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.