Fact sheet: Veritas Asian

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
FO Equity - Asia Pacific ex Japan
Fund type
No data available.
Primary aim
GROWTH & INCOME
Why Money Observer Rates Veritas Asian

Rated Fund 2016-2017. Long-term core complemented by short-term opportunism

Winner of the best Money Observer Asia Pacific ex Japan fund award in 2015 and highly commended in 2016, Veritas Asian's investment team, led by Ezra Sun, is split between London and Hong Kong.

Members of the team communicate on a daily basis to exchange ideas and implement investment decisions. The fund's portfolio is split into two parts. The core portfolio is comprised of companies that are expected to provide steady returns over the longer term (three to five years).

The trading portfolio, which is short term in nature (up to 6 months), is used to capitalise on market inefficiencies and earnings momentum.

The fund's managers use a thematic approach to drive company selection. When looking at individual companies, they focus on the business model, the quality of management and the sustainability of the business.

They pay particular attention to free cash flows. The companies they invest in can be of any size, but 75 per cent of the portfolio is normally held in larger companies.

The fund managers believe there are two main drivers of returns: dividend yield and earnings momentum. So the fund has a core portfolio of high dividend-yielding stocks, which helps reduce volatility, because share price fluctuations usually come from a mismatch between earnings expectation and delivery.

The trading portfolio is comprised of companies with earnings growth that the managers believe has been under- or over-estimated by the market.

3 Year Performance
Fund Performance89.3%
Average of Rated Funds Group58%
Sector Performance28.2%
Fund information
Fund name
Veritas Asian C GBP
Fund manager company
Veritas Asset Mgmt LLP
Fund type
No data available.
Fund managers
  • Ezra Sunsince 17/10/2004
Accolades
Highly Commended - Asia Pacific excluding Japan
Fund objective
The Fund is designed for long-term investors who wish to build capital over a number of years through investment in a portfolio of equity and equity related securities in companies located in Asia (excluding Japan).
Benchmark
  • MSCI AC Asia Pacific ex Japan
Investment style
None
Investment method
Shares
Quick stats
1 Year return
39.9%
1 Year rank in sector
-
Sector
FO Equity - Asia Pacific ex Japan
Yield
-
Fund size
£807m (£481m last year)
Top in this sector
Fund name1 Year
Morg Stnly Asia Opp63.7%
Vontobel mtxSstAsL(xJp)54.6%
Baring Asia Growth52.5%
Schroder ISF Asian Opp51.3%
Pictet Asian Eqs Ex Japan50.8%
...more in FO Equity - Asia Pacific ex Japan

Performance snapshot

Holdings snapshot

  • China36.8%
    Australia16.7%
    Korea11.7%
    India9.7%
    Taiwan8%
  • Information Technology29%
    Financials16.6%
    Consumer Staples13.7%
    Consumer Discretionary13.3%
    Health Care9.6%
  • Chinese Equities36.8%
    Australian Equities16.7%
    South Korean Equities11.7%
    Indian Equities9.7%
    Taiwanese Equities8%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund6.2%11.4%23.6%39.9%89.3%145%
Sector2.3%7.1%13.2%29.4%28.2%48.5%
Rank within sector------
Quartile
Calendar performance
 YTD - 20172016201520142013
Fund40.6%----
Sector29.7%6.4%-6.8%5.5%3.3%
Rank within sector-----
Quartile
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.
15.46
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.
0.78
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.
1.32
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%.
13.73
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.
9.74
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.
1.36
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.
0.54
Price movement
52 week high673.17
52 week low470.3
Current bid price-
Current offer price-
Current mid price672.55
Region
1China36.76%
2Australia16.73%
3Korea11.65%
4India9.72%
5Taiwan7.96%
6Hong Kong3.9%
7Money Market3.8%
8Thailand3.74%
9USA3.44%
Industry sector
1Information Technology28.99%
2Financials16.58%
3Consumer Staples13.7%
4Consumer Discretionary13.26%
5Health Care9.55%
6Materials8.27%
7Industrials5.84%
8Cash & Cash Equivalents3.8%
Asset type
1Chinese Equities36.76%
2Australian Equities16.73%
3South Korean Equities11.65%
4Indian Equities9.72%
5Taiwanese Equities7.96%
6Hong Kong Equities3.9%
7Money Market3.8%
8Thai Equities3.74%
9US Equities3.44%
Individual holdings
1SAMSUNG ELECTRONICS CO4.84%
2PING AN INSURANCE(GR)CO OF CHINA4.5%
3KWEICHOW MOUTAI4.04%
4CP ALL PCL3.74%
5TREASURY WINE ESTATES LTD NPV3.55%
6ARISTOCRAT LEISURE3.47%
7TENCENT HLDGS LIMITED3.45%
8JIANGSU HENGRUI MEDICAL3.33%
9ALIBABA GROUP HLDG LTD3.1%
Management
Fund manager group
Veritas
Fund manager company
Veritas Asset Mgmt LLP
Fund type
No data available.
Fund objective
The Fund is designed for long-term investors who wish to build capital over a number of years through investment in a portfolio of equity and equity related securities in companies located in Asia (excluding Japan).
Benchmark
  • MSCI AC Asia Pacific ex Japan
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Ezra Sun17/10/2004Fund Manager of the Veritas Asian strategies. Joined the company in 2004. Director of Investment Management and Investment Leader Asia Newton Investment Management 1995 to 2004. In charge of Newton’s Asia Pacific fund range including Newton Oriental Fund and Mellon Asia Equity Fund. Education: BA, (Nankai University, China), MA, (Nankai University, China), Research Student Cambridge University.
Compliance
Transparent for Austrian Tax, Transparent for German Tax, IA Recognised, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom, Ireland, Offshore
Veritas Asian A EUR
Initial charge-
Annual charge1%
Min single investment£50,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price460.1229
CurrencyEUR
Price updated20/11/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB28
Veritas Asian A GBP
Initial charge3%
Annual charge1%
Min single investment£30,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price666.5397
CurrencyGBP
Price updated20/11/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB27
Veritas Asian A USD
Initial charge-
Annual charge1%
Min single investment£50,000
Min regular saving£25,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.24%
Bid price-
Offer price-
Mid price475.1561
CurrencyUSD
Price updated20/11/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeVB26
Veritas Asian B EUR
Initial charge-
Annual charge1.5%
Min single investment£15,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price339.4492
CurrencyEUR
Price updated20/11/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV112
Veritas Asian B GBP
Initial charge-
Annual charge1.5%
Min single investment£7,000
Min regular saving£7,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.74%
Bid price-
Offer price-
Mid price491.6844
CurrencyGBP
Price updated20/11/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV113
Veritas Asian B USD
Initial charge-
Annual charge1.5%
Min single investment£15,000
Min regular saving£15,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price330.8203
CurrencyUSD
Price updated20/11/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeV114
Veritas Asian C EUR
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeO70E
Veritas Asian C GBP
Initial charge-
Annual charge0.75%
Min single investment£20,000,000
Min regular saving£100,000
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price672.5534
CurrencyGBP
Price updated20/11/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeEABE
Veritas Asian C USD
Initial charge3%
Annual charge0.75%
Min single investment£30,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price478.2765
CurrencyUSD
Price updated20/11/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNPFD
Veritas Asian D EUR
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price-
CurrencyEUR
Price updated01/01/1900
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeO70F
Veritas Asian D GBP
Initial charge-
Annual charge0.75%
Min single investment£20,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price666.3015
CurrencyGBP
Price updated20/11/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNNOA
Veritas Asian D USD
Initial charge3%
Annual charge0.75%
Min single investment£30,000,000
Min regular saving£150,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price473.9076
CurrencyUSD
Price updated20/11/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeNPFC
Data provided by

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