First State Greater China Growth Accumulation Units
At a glance
| Initial charge | 4.00% |
|---|---|
| Initial saving | 3.75% |
| Annual charge | 1.75% |
| Annual saving | 0.150% ² |
| Total Expense Ratio | 1.86% |
| Launch date | 01-12-2003 |
| Launch price | £1.00 |
| Sector | Asia Pacific Ex Japan |
| Fund size | £135 million |
| Number of holdings | 82 |
| Fund type | OEIC |
| Type of units | Accumulation |
Ways to Invest
Find out how to invest in this fundHL Research - Our view on this Fund
The Chinese market has struggled this year, not helped by events in the Western world, coupled with its own inflationary problems. Martin Lau continues to focus the portfolio on the domestic consumer sectors like healthcare, technology and utilities which he believes are well placed to weather the storm. Once inflation falls, Martin Lau expects interest rates to fall further and this should prove positive for consumer related companies.
Full research
About the Fund Manager
Martin Lau
Located in: Hong Kong
Martin Lau was appointed Director, Greater China Equities in October 2003 following the merger of the Edinburgh-based Asia Pacific team with the Hong Kong and Singapore Asian teams in September 2003. Martin joined First State Investments in April 2002 as Senior Portfolio Manager, responsible for the management of First State's Greater China and regional funds.
Martin started his investment career in 1995 with BZW in London as part of their risk management team. He subsequently spent six years with Invesco as a fund manager responsible for the Greater China funds, Smaller Companies fund and regional portfolios.
Martin graduated from Cambridge University with a Bachelor of Arts degree and a Masters degree in Engineering. He is also a CFA charterholder.
Income details
| Historic yield | 1.39% |
|---|---|
| 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 | 5.88% |
|---|---|
| Jardine Matheson Holdings | 5.18% |
| Cheung Kong (Holdings) | 5.07% |
| Chunghwa Telecom Co. | 5.00% |
| China Resources Enterprise (Red Chip) | 3.46% |
| China Communications Services (H) | 3.03% |
| President Chain Store Corp. | 2.87% |
| CNOOC | 2.82% |
| China Telecom Corp. | 2.81% |
| Yantai Changyu Pioneer Wine Co. Ltd. B | 2.79% |
Top 10 sectors
| Technology Hardware & Equipment | 15.95% |
|---|---|
| General Industrials | 11.35% |
| Real Estate Investment & Services | 10.31% |
| Fixed Line Telecommunications | 7.81% |
| General Retailers | 6.00% |
| Food & Drug Retailers | 5.64% |
| Personal Goods | 5.49% |
| Industrial Transportation | 4.34% |
| Banks | 4.31% |
| Chemicals | 3.11% |
Top 10 countries
| Hong Kong | 48.04% |
|---|---|
| Taiwan | 25.59% |
| China | 17.98% |
| Singapore | 7.41% |
| Cash and Equiv. | 0.98% |
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.
