Fact sheet: Baring Eastern

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
ASIA EQUITIES
Sector
UT Asia Pacific Excluding Japan
Fund type
Unit Trust
Primary aim
No data available.
Why Money Observer Rates Baring Eastern

Rated Fund 2017-2018. Invests in new generation of entrepreneurs

Baring Eastern's manager Hyung Jin Lee invests in 'new Asia' rather than traditional or 'old Asia' companies. He uses 'new Asia' to describe the next generation of companies emerging across the region, as opposed to those found in economic areas that have already experienced strong expansion, such as real estate, industrials, materials, mining, oil and some areas of finance, which he believes may not have as much future potential.

Based in Hong Kong, he is head of Asian equities at Barings and has managed this fund, which invests across the Asia Pacific region excluding Japan, since 2012.

Lee looks for companies with long-term structural growth drivers that meet his quality 'growth at a reasonable price' (Garp) criteria. Qualities that he favours include entrepreneurship, innovation and the use of cutting-edge technology. Companies with these characteristics can be found in a wide range of industries including tourism, healthcare, consumer discretionary, consumer staples, education and beauty.

However, he says the specific sector is unimportant. He is searching for market leaders with the right combination of growth and quality characteristics wherever he can find them. He says he finds these 'new Asia' opportunities right across the region, although mostly in North Asian countries, such as China and South Korea, where economic development is greater and infrastructure stronger. The portfolio had around 60 holdings at the end of 2017.

Wealth manager Rowan Dartington uses this fund for clients and rates it as 'under the radar', despite having produced 'outstanding' performance. Investment director Tim Cockerill says it uses a 'very completed and rounded process, which incorporates environmental, social and governance ヨ an important factor when investing in Asia'.

3 Year Performance
Fund Performance55.1%
Average of Rated Funds Group51.1%
Sector Performance43.5%
Fund information
Fund name
Barings Eastern Trust I Inc GBP
Fund manager company
Baring Asset Management Limite
Fund type
Unit Trust
Fund managers
  • HyungJin Leesince 01/08/2012
Accolades
Fund objective
The investment objective of the Trust is to achieve long-term capital growth by investing in the Asia Pacific region excluding Japan.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
22.9%
1 Year rank in sector
4/59
Sector
UT Asia Pacific Excluding Japan
Yield
0.4%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.04%
Fund size
£142m (£59m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
121
Top in this sector
Fund name1 Year
Old Mutual Asia Pacific24.5%
Baillie Gifford Pacific24.2%
Investec Asia Ex Japan22.9%
Barings Eastern Trust22.9%
JPM Asia Growth22.8%
...more in UT Asia Pacific Excluding Japan

Performance snapshot

Holdings snapshot

  • China31.4%
    Taiwan17.3%
    Korea12.9%
    India10.1%
    Others6.9%
  • Information Technology29.6%
    Consumer Discretionary15.7%
    Financials15%
    Industrials10.6%
    Materials7.4%
  • Chinese Equities31.4%
    Taiwanese Equities17.3%
    South Korean Equities12.9%
    Indian Equities10.1%
    International Equities6.9%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund1.9%-1.3%-4.1%22.9%55.1%82.8%
Sector5.2%2.6%0.6%14.2%43.5%54.6%
Rank within sector60 / 6161 / 6159 / 604 / 599 / 554 / 48
Quartile4th4th4th1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-1.3%42.2%19.4%4.4%17.2%
Sector1.2%24.4%27.3%-3.8%9.2%
Rank within sector52 / 603 / 5954 / 574 / 553 / 52
Quartile4th1st4th1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
4.68
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.97
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.78
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
14.92
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.2
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.67
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.83
Price movement
52 week high1175
52 week low918.8
Current bid price-
Current offer price-
Current mid price1108
Region
1China31.4%
2Taiwan17.3%
3Korea12.9%
4India10.1%
5Others6.9%
6Money Market6.4%
7Thailand5.5%
8Singapore4.8%
9Indonesia4.7%
Industry sector
1Information Technology29.6%
2Consumer Discretionary15.7%
3Financials15%
4Industrials10.6%
5Materials7.4%
6Cash & Cash Equivalents6.4%
7Others4.3%
8Energy3.8%
9Consumer Staples3.6%
Asset type
1Chinese Equities31.4%
2Taiwanese Equities17.3%
3South Korean Equities12.9%
4Indian Equities10.1%
5International Equities6.9%
6Cash & Cash Equivalents6.4%
7Thai Equities5.5%
8Singapore Equities4.8%
9Indonesian Equities4.7%
Individual holdings
1TENCENT HLDGS LTD6.92%
2SAMSUNG ELECTRONICS CO4.35%
3SK HYNIX INC3.08%
4PING AN INSURANCE(GR)CO OF CHINA2.68%
5GLOBALWAFERS CO LTD2.48%
6AIA GROUP LTD2.44%
7HAIER ELECTRONICS GROUP CO LTD2.42%
8YANGZIJIANG SHIPBUILDING (HLDGS)LTD2.26%
9SHINSEGAE CO2.12%
Management
Fund manager group
Baring
Fund manager company
Baring Asset Management Limite
Fund type
Unit Trust
Fund objective
The investment objective of the Trust is to achieve long-term capital growth by investing in the Asia Pacific region excluding Japan.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
HyungJin Lee01/08/2012Jin is Head of Asian Equities and takes the lead role in the management of regional Asia ex Japan products and mandates, including the Baring Asia Growth Fund and the Baring Eastern Trust. He is also the lead manager of the Baring Korea Trust, backup manager of the Baring ASEAN Frontiers Fund and spearheads research and stock selection for Korea. Jin joined Barings as an Investment Manager in 2004 from Rhee Capital, a Korean hedge fund company, where he was involved with the management of a long/short hedge fund focusing on Korean equities. He was previously Head of the Large Cap and Financial teams at Samsung Securities. Jin’s experience also includes analyst roles at Salomon Smith Barney, UBS Securities and Credit Lyonnais. Jin holds a BA in Philosophy from the University of California, Berkeley (US). He is fluent in Korean.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Germany, France, United Kingdom, Hong Kong, Ireland, Macau
Barings Eastern Trust A Acc GBP
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.79%
Total expense ratio (TER)1.8%
Bid price-
Offer price-
Mid price1102
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBO11
Barings Eastern Trust A Acc USD
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£2,500
Available in ISAYes
Ongoing charge (OCF)1.79%
Total expense ratio (TER)1.77%
Bid price-
Offer price-
Mid price14.74
CurrencyUSD
Price updated21/05/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeB075
Barings Eastern Trust A Inc GBP
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£500
Available in ISAYes
Ongoing charge (OCF)1.79%
Total expense ratio (TER)1.77%
Bid price-
Offer price-
Mid price1081
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeB8T6
Barings Eastern Trust A USD EUR
Initial charge5%
Annual charge1.5%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.79%
Total expense ratio (TER)-
Bid price8.5883
Offer price9.0172
Mid price-
CurrencyEUR
Price updated29/03/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGTVF
Barings Eastern Trust D Inc GBP
Initial charge-
Annual charge-
Min single investment£20,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1109
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeN39W
Barings Eastern Trust I Acc GBP
Initial charge-
Annual charge0.75%
Min single investment£10,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.04%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1133
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJ6JB
Barings Eastern Trust I Inc GBP
Initial charge-
Annual charge0.75%
Min single investment£10,000,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.04%
Total expense ratio (TER)1.05%
Bid price-
Offer price-
Mid price1108
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeG5ZZ
Data provided by

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