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Stewart Investors Indian Subcontinent All Cap Fund Class III Acc USD
All fundsInvestment objective and policy
The Fund aims to grow your investment over the long-term.
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 and that are listed on exchanges worldwide. The Fund invests in shares of high-quality companies which are positioned to contribute to, and benefit from, sustainable development.
Investment decisions use a thematic sustainability approach and an assessment aiming to identify high quality companies based on three key points: (i) Quality of management. (ii) Quality of the franchise 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.
Pursuant to the EU Sustainable Finance Disclosure Regulation (EU 2019/2088), this Fund also has sustainable investment as its objective under Article 9.
This page is updated monthly. Visit Fund literature page for Factsheets, Quarterly Reports, KIIDS and Prospectuses.
Stewart Investors Indian Subcontinent All Cap Fund
| Fund launch date | 17 January 2023 |
|---|---|
| Share class launch date | 17 January 2023 |
| Fund size (US$m) | 8.5 |
| Benchmark | MSCI India Net Index |
| Number of holdings | 36 |
| Fund managers | Sashi Reddy/David Gait |
| Minimum investment | US$500000 |
| Initial charge | 0% |
| Ongoing charges^^ | 1.05% |
| Share type | ACCUMULATION |
| Sedol | BQMHL18 |
| ISIN | IE00034QOVR6 |
| Research rating** | Morningstar®:Gold |
| Stock name | % |
|---|---|
| Mahindra & Mahindra Ltd. | 9.0 |
| Cholamandalam Financial Holdings | 6.1 |
| Tube Investments of India Limited | 5.3 |
| HDFC Bank INR1 | 5.1 |
| Aavas Financiers Ltd. | 4.8 |
| Blue Dart Express Limited | 4.4 |
| Triveni Turbine Ltd | 4.2 |
| Dr. Reddy's Laboratories Ltd. | 3.3 |
| Marico Limited | 3.2 |
| Tech Mahindra Limited | 3.0 |
Performance
| Annual performance (% in USD) | Share type | 12 mths to 31 Mar 2025 | 12 mths to 31 Mar 2024 | 12 mths to 31 Mar 2023 | 12 mths to 31 Mar 2022 | 12 mths to 31 Mar 2021 |
|---|---|---|---|---|---|---|
| Stewart Investors Indian Subcontinent All Cap Fund | Class III (Acc) | -0.7 | 22.8 | - | - | - |
| Benchmark * | - | 1.8 | 36.8 | - | - | - |
Annualised performance as at 31 Mar 2025
- Strategy
- Fund
- Benchmark *
- Share type
- Class III (Acc)
- -
- 12 mths to 31 Mar 2025
- -0.7
- 1.8
- 12 mths to 31 Mar 2024
- 22.8
- 36.8
- 12 mths to 31 Mar 2023
- -
- -
- 12 mths to 31 Mar 2022
- -
- -
- 12 mths to 31 Mar 2021
- -
- -
| Cumulative performance (% in USD) | Share type | Launch date | 3mths | 6mths | 1yr | 3yrs | 5yrs | 10yrs | Since launch |
|---|---|---|---|---|---|---|---|---|---|
| Stewart Investors Indian Subcontinent All Cap Fund | Class III (Acc) | 17 Jan 2023 | -8.4 | -17.2 | -0.7 | - | - | - | 16.1 |
| Benchmark * | - | - | -3.0 | -13.9 | 1.8 | - | - | - | 29.2 |
Cumulative performance as at 31 Mar 2025
- Strategy
- Fund
- Benchmark *
- Share type
- Class III (Acc)
- -
- Launch date
- 17 Jan 2023
- -
- 3mths
- -8.4
- -3.0
- 6mths
- -17.2
- -13.9
- 1yr
- -0.7
- 1.8
- 3yrs
- -
- -
- 5yrs
- -
- -
- 10yrs
- -
- -
- Since launch
- 16.1
- 29.2
* MSCI India Net Index
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 Stewart Investors Indian Subcontinent All Cap Fund - Class III (Acc) USD as at specified date. Source for Fund - Lipper IM/First Sentier Investors/Stewart Investors. Performance data is calculated on a net basis by deducting fees incurred at fund level (e.g. the management and administration fee) and other costs charged to the fund (e.g. transaction and custody costs), save that it does not take account of initial charges or switching fees (if any). Source for benchmark – Factset. Fund and benchmark includes income reinvested net of withholding tax. Since inception performance calculated from 17 Jan 2023.
Sector breakdown as at 31 Mar 2025
Country breakdown as at 31 Mar 2025
Fund level reporting to 31 Dec 2024
The SFDR Level 2 reporting template for each of our Article 9 funds is available in a standalone document and also within the latest First Sentier Investors Global Umbrella Fund plc Annual Report. The social and environmental outcomes for the Funds are below:
- As at 31 December 2024, the Fund held 36 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 94 contributions to the pillars.
- 22 companies (61%) were contributing to climate change solutions. These companies were contributing to 37 different solutions and, in total, were making 75 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.
Fund name changes
As of end of 2024, please note that Stewart Investors strategies and the Funds within the UK First Sentier Investors ICVC, First Sentier Investors Global Umbrella Fund plc (Irish VCC) and First Sentier Investors Global Growth Funds (Singapore Unit Trust) have been renamed. Please refer to our note via the link below for further information.
