Smith & Williamson Far Eastern Income and Growth Fund B
New for 2018. Targets growth and income
This fund is another newcomer for 2018, having replaced Baillie Gifford Developed Asia Pacific on account of its better recent performance. As its name suggests, it seeks both income and long-term capital growth by investing in the Far East and Pacific Basin region, including Japan, Australia and India. It pays income annually and has a yield of around 1.7 per cent.The fund was launched almost 30 years ago, yet remains a tiddler at around �40 million. However, it only started targeting income in 2013, when it changed its name from Smith & Williamson Far Eastern Growth Trust to reflect a change to the investment objective.Its manager, Jane Andrews, has been actively involved in investing since the 1980s. She has been this fund's manager since she joined Smith & Williamson in 1996 and launched the firm's Oriental Growth fund in 2009.Far Eastern Income and Growth typically has around 80 holdings. Andrews is a 'growth' investor, focusing on high-quality companies operating in niche markets with structural growth potential. She says these companies are more in charge of their own destinies than companies producing undifferentiated or commoditised products where there is regional and global oversupply.She has a bias towards medium-sized companies, which she expects to be an important driver of longer-term returns. At a country level, she favours India, Taiwan and Singapore. At a sector level, the fund is tilted away from banks as Andrews finds large Australian banks unattractive, although she has been adding to HSBC Holdings as it should benefit from rising US interest rates.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|CSL Ltd||2.86 %|
|Samsung Electronics Co Ltd||2.57 %|
|AIA Group Ltd||2.54 %|
|Housing Development Finance Corp Ltd||2.52 %|
|D.A.Consortium Holdings Inc||2.38 %|
|Alibaba Group Holding Ltd ADR||2.09 %|
|Fanuc Corp||2.03 %|
|Sony Corp||1.92 %|
|TechnoPro Holdings Inc||1.89 %|
|MTR Corp Ltd||1.89 %|
|Asia - Developed||28.65 %|
|Asia - Emerging||16.98 %|
|Financial Services||18.12 %|
|Consumer Defensive||11.66 %|
|Consumer Cyclical||8.58 %|
|Real Estate||7.39 %|
Jane joined Smith & Williamson in 1996 and has managed the Smith & Williamson Far Eastern Growth Trust for over 15 years. She also manages the Smith & Williamson Oriental Growth Fund. Jane’s career began with Midland Bank working on Asian investments for an international pension fund. In 1987 she moved to John Govett to manage the Pacific Income Fund, winning a performance award in 1988. A tenure at CIM fund managers, where she ran dedicated Japanese & Asian pension funds, preceded her career at Smith & Williamson. Jane is also involved in the monthly strategy meetings advising on Far Eastern Markets.
Data provided by Morningstar.
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