Hargreaves Lansdown

First State Asia Pacific Leaders Inclusive - Class A - Accumulation (GBP)

Sell: 474.65pBuy: 474.65p3.77p (0.80%)

Prices as at 6 October 2015

* Please note that there can be occasions when the Selling price shown may be temporarily higher than the Buying price. This can sometimes happen when the stock market is closed but it can also happen at other times for a variety of reasons. However, when the stock market is open and you place a trade, the selling price available to you will never be higher than the buying price. Live prices will be available when you place a deal with us during market hours. Please check these and contact us if you are unable to deal online.
Also available as income units Help

Charges and Savings

Initial charges
Initial charge: 4.00%
Initial saving from HL: 4.00%
HL dealing charge: Free
Net initial charge: 0.00%
Annual charges
Ongoing charge (OCF/TER): 1.61%
Ongoing saving from HL: 0.65% i
Net ongoing charge: 0.96%
Performance fee: No  

In some cases the ongoing savings are provided by our loyalty bonus. Loyalty bonuses are tax-free in an ISA or SIPP. However, they may be subject to tax in a Fund & Share Account which would, in effect, reduce their value and increase the net ongoing charge.

Please also read the Simplified Prospectus/Key Investor Information Document (KIID)
HRMC believes that from April 2013 rebates of annual charges (such as loyalty bonuses) paid on funds held outside ISAs or SIPPs should be paid net of basic rate tax. We believe this is incorrect and are challenging HMRC's interpretation. However, in line with best client accounting practice and to save clients facing an unexpected bill in the future, we are currently paying loyalty bonuses within the Vantage Fund & Share Account net of an amount equivalent to the basic rate tax. If we are successful in our challenge we will return this money to clients. If we are unsuccessful we will use the money to pay over any amounts due to HMRC. Loyalty bonuses in the Vantage Fund & Share Accounts held by overseas investors, companies and charities will be paid without any deductions, as will loyalty bonuses in the Vantage ISA and Vantage SIPP which are exempt from tax.

Other Information

Unit type: Inclusive
Manager: Multiple
Fund launch date: 1 December 2003
Launch price: £1.00
Sector: Asia Pacific Ex Japan
Fund size: £7,509 million
Number of holdings: 48
Fund type: OEIC
Accumulation/income: Accumulation
Dealing frequency: Daily
Valuation point: 12:00
Trustee: The National Westminster Bank plc
Minimum investment: £100.00
Charges deducted from: Income
Available in a regular savings plan: Yes
Minimum regular savings value: £25.00


06/10/10 to 06/10/11 06/10/11 to 06/10/12 06/10/12 to 06/10/13 06/10/13 to 06/10/14 06/10/14 to 06/10/15
Annual return -3.18% 19.09% 5.74% 11.81% 2.76%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

View fund chart

Our view on this fund

Angus Tulloch has over thirty years' experience managing investments in the Asia Pacific region. His long-term track record is outstanding and as an investor in his own fund he is well incentivised to deliver strong returns. The cornerstone of his success is his conservative investment approach. Although this means the...

Read more HL research on this fund

Fund Objective

This fund aims to achieve long term capital growth. The fund invests in large and mid capitalisation equities in the Asia Pacific region (excluding Japan, including Australasia).

Income Details

Historic yield : 0.55%
Income paid: Bi-annually
Type of payment: Dividend
Ex-dividend date: 1 February 2016 1 August 2016
Payment date: 31 March 20164 30 September 20164

All yields are variable and not guaranteed. Information correct as at 31 August 2015.

Security Weight
CSL 5.91%
Taiwan Semiconductor Manufacturing 5.34%
CK Hutchison Holdings 5.01%
Brambles 4.80%
Oversea-Chinese Banking 4.79%
Asustek Computer 3.58%
Kotak Mahindra Bank 3.13%
Hong Kong & China Gas Co. 3.01%
Housing Development Finance Corp. 2.90%
DBS Group Holdings 2.87%
Sector Weight
Banks 13.94%
Technology Hardware & Equipment 12.78%
General Industrials 12.27%
Pharmaceuticals & Biotechnology 11.12%
Cash and Equiv. 7.87%
Software & Computer Services 6.87%
Personal Goods 5.98%
Financial Services 4.10%
Gas, Water & Multiutilities 3.01%
Mobile Telecommunications 2.69%
Country Weight
India 24.49%
Taiwan 17.27%
Hong Kong 15.73%
Australia 15.22%
Singapore 9.19%
Cash and Equiv. 7.87%
South Korea 2.77%
United States 2.26%
Malaysia 1.64%
Philippines 1.45%

Fund Manager

1 of 2
Photo of Richard Jones

Key facts

Richard Jones
Manager start date 14/02/2014
Manager located in Hong Kong


Senior Analyst/Portfolio Manager at First State Stewart (FSS). FSS is part of First State Investments and the team manages equities in Asia Pacific, Global Emerging and other international markets. He joined the team in January 2010. Richard is responsible for research and stock picking with a focus on the Asia Pacific (ex-Japan) region. He graduated from the London School of Economics with a first class degree in Economics (Government).

Photo of Angus Tulloch

Key facts

Angus Tulloch
Manager start date 01/12/2003
Manager located in Edinburgh


Angus Tulloch is Joint Managing Partner of the Asia Pacific and Global Emerging Markets equity team at First State Investments, having joined the Company in 1988. Graduating from Cambridge University in 1970 with a BA (Honours) in Economics and History, Angus worked with Chartered Accountants Whinney Murray (now Ernst & Young) for four years. He then gained substantial industry experience in corporate planning and finance roles with various national companies before joining London stockbrokers Cazenove & Coin 1980. Specialising mainly in Far Eastern markets, Angus spent three of the next eight years with this firm based in Hong Kong as a regional analyst before assuming a fund management role in its London office. In 1988 he returned to Scotland, joining Stewart Ivory (now part of First State Investments) to establish an Asia Pacific and Emerging Markets capability.

You can buy or sell holdings in this fund through a ISA, SIPP or Fund & Share Account

Data received from the Fund Management Company administering this fund and provided to you for your information. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.

4 If you elect to receive the income from a Vantage ISA or Vantage Fund & 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.

Prices as at 6 October 2015. Data as at 31 August 2015.

Wealth 150 fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

Wealth 150+ fund

The Wealth 150 is a list of what we believe are the best funds in all the main sectors. For a fund to be selected for the Wealth 150 it must pass a rigorous selection process, and we continually monitor the list to ensure it only contains the best funds.

As investment returns depend on two factors - performance and charges - we have identified from the Wealth 150, the funds we believe offer the very best combination of outstanding performance potential and the best prices. These are the Wealth150+ funds. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.

Core Tracker fund

The Core Trackers list represents what we believe are the very best trackers in each of the main sectors. We analysed each fund's management, process and performance to find the best combination of quality and cost. We want to ensure that the fund has not only tracked its index closely in the past, but that it has the best potential to track well in the future. In many cases these super-low charges are only available through the Vantage Service - a unique benefit to Hargreaves Lansdown clients.