First State Glbl Emg Mkt Leaders Accumulation Shares

Sell : 168.48p | Buy : 168.48p | up 0.26p
Last valuation as at 03-12-2008

At a glance

Initial charge 4.00%
Initial saving 3.75%
Annual charge 1.50%
Annual saving 0.150% ²
Total Expense Ratio 1.61%
Launch date 01-12-2003
Launch price £1.00
Sector Global Emerging Mkts
Fund size £224 million
Number of holdings 88
Fund type OEIC
Type of units Accumulation

HL Research - Our view on this Fund

Mark Dampier Although emerging markets have been subject to volatility this year, this fund has proven resilient relative to its peers. Performance has been driven by the fund’s holdings in utilities and telecoms. In particular, the fund has benefited from holding Hong Kong & China Gas and Tata Power in India. Angus Tulloch believes earnings growth may come under further pressure and he remains focused on well managed and attractively valued companies.

Full research

About the Fund Manager

Photo of Jonathan Asante

Jonathan Asante
Located in: Edinburgh


Jonathan Asante joined First State Investments' Global Emerging Markets team as Senior Analyst in November 2004 and in January 2008 was appointed Head of Global Emerging Markets. His primary area of research is the entire emerging markets universe and he acts in the capacity of Co-Manager for a number of our portfolios.

Jonathan joined from Framlington where he was Global Emerging Markets Fund Manager and Group Economist. Prior to joining Framlington in 1995, he was employed by NatWest Group where he was an Assistant Researcher, analysing the UK economy and UK credit markets. Previous to this Jonathan taught classes in economics and econometrics at the London School of Economics whilst doing postgraduate research.

Jonathan graduated from the London School of Economics with BSc and MSc in Economics. He is an Associate member of the UK Society of Investment Professionals.

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Income details

Historic yield 1.05%
Income paid Bi-annually
Type of payment Dividend

All yields are variable and not guaranteed. There is currently no yield information available for this fund.

Distribution dates

Ex-dividend date 01 February 2008
Payment date ³ 31 March 2008
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Top 10 holdings

Taiwan Semiconductor Manufacturing 5.91%
AngloGold Ashanti 5.43%
Hong Kong & China Gas Co. 5.05%
Check Point Software Technologies 3.91%
China Resources Enterprise (Red Chip) 3.18%
Chunghwa Telecom Co. 3.09%
Shinsegae Co. 2.97%
Samsung Electronics Co. 2.93%
Genting Bhd 2.91%
InBev 2.86%

Top 10 sectors

Technology Hardware & Equipment 10.59%
Beverages 8.74%
Fixed Line Telecommunications 8.17%
Mining 6.14%
Electricity 5.20%
Food Producers 5.09%
Gas, Water & Multiutilities 5.05%
Software & Computer Services 4.91%
Banks 4.90%
General Retailers 4.41%

Top 10 countries

Taiwan 17.12%
Hong Kong 10.12%
Malaysia 8.80%
South Korea 8.44%
Brazil 7.84%
Mexico 6.99%
South Africa 5.43%
Israel 5.42%
India 4.20%
Thailand 3.48%

² Annual saving is not available in the SIPP.

³ If you elect to receive the income from a Vantage ISA, Fund or Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.

Last valuation as at 03-12-2008. Data accurate as at 31/10/2008.

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