Fundamental, long-term oriented equity strategy with focus on growth stocks from Asian emerging markets, which consists of a diversified portfolio of approx. 45 stocks.
The fund management focuses on companies with convincing structural growth and high long-term earnings. These companies are based in Emerging Asian countries, but often operate globally. Based on fundamental stock selection, companies are selected that achieve sustainable growth over long periods of time with high profitability. Investments are made primarily in large caps as well as high-growth smaller and medium-sized stocks. The decisive criteria for these business models are high entry barriers, end markets with structural growth and excellent management teams.
Concentrated portfolio of about 45 stocks
All cap approach, i.e. exploiting investment opportunities across all market segments
Long-term investment horizon and therefore low portfolio turnover
Further details on the opportunities and risks of this fund can be found in the sales prospectus.
Indexed performance
Performance in 12-month periods
Currencies
Sectors
Countries
Asset classes
Top Holdings
Monthly market comment
Most Asian equity markets performed negatively in October, with the exception of Taiwan, which benefited from better-than-expected third-quarter results due to robust demand from the manufacturing sector. The Berenberg Emerging Asia Focus Fund outperformed its benchmark in October. Pop Mart reported its preliminary third quarter results with a massive revenue growth that beat the guidance and consensus by a wide margin. The third quarter results were stronger than expected with earnings around +8% above consensus, highlighting TSMC's solid position in the AI cluster. Mahindra & Mahindra performed negatively, reflecting capital outflows from India as investors reallocated funds in response to changing market dynamics. Zhongji Innolight shares fell as third-quarter results were mixed. In October, we bought Eastroc and sold KIA after disappointing earnings.
Portfolio Management
Javier Garcia
Javier Garcia has been a portfolio manager at Berenberg since October 2022. He began his investment career in 2002 at Julius Baer Asset Management (later Swiss & Global Asset Management), where he became Co-Manager of the JB Global Emerging Markets Equity Fund in 2006 and additionally served as Lead Fund Manager of the JB Black Sea Fund and the JB Russia Stock Fund from 2009 onwards. From 2013 to 2022, he has been Senior Portfolio Manager Emerging Markets Equities at UBS Wealth Management. In this role, he built and managed the Global Emerging Markets and Asian Equities business. Javier Garcia holds a Bachelor in Business Administration and Economics from the University of Zurich and is a CFA Charterholder.
Javier Garcia
Portfoliomanager
Dr. Jianan He
Jianan He has been a portfolio manager at Berenberg since July 2023. She started her career in 2020 at ODDO BHF Asset Management, where she was a Quantitative Equity Analyst focusing on multi-factor investment strategies for global and emerging equity markets. Jianan He holds a PhD in empirical finance from the Technical University of Darmstadt and is a CFA Charterholder.
Dr. Jianan He
Portfoliomanagerin
CO₂-Intensity
The CO₂ Intensity (Scope 1 & 2emissions) per company is multiplied by is portfolio weight (current value of the investment by current portfolio value) and summedup. This weighted average CO₂ Intensity provides an indication ofthe portfolio’s exposure to CO₂ emission intensive companies. The unit is in tons of CO₂ per USD 1 million revenues.
The fund does not actively manage its carbon footprint, however, emissions data such as CO2 intensity are relevant parameters which can be used to assess the efficient management of a company and the extent of transition risks.
ESG Score
Using a score between 0 (lowest) and 10 (highest), MSCI ESG assesses the ability of portfolio holdings to identify and manage environmental, social and governance-related risks compared to peers. The ESG scores are assigned at the holding level and are aggregated at the portfolio level as the weighted average ESG Score.
The data provider MSCI ESG uses an ESG score of 0 to 10 to assess the management of material ESG risks of portfolio holdings compared to competitors.
ESG Controversies Screen
MSCI ESG analyses controversial business practices from the five areas environment, human rights, labour rights & supply management, customers and governance. The controversies are rated according to their reputational risk as well as the operational handling by a flagging system. Green indicates no or weak controversies, yellow indicates moderate controversies, orange indicates severe controversies and red indicates very severe controversies.
Investments in the fund are monitored for ESG controversies and, with the help of MSCI ESG data, flagged according their severity. Thereby, potential ESG risks of investments are identified. In the case of an orange flag (severe controversy), we enter into an active exchange with the company. In the case of a red flag (very severe controversy), the company is excluded.
