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ASI Emerging Markets Equity Inclusive - Class A - Accumulation (GBP)

Sell:803.19p Buy:803.19p Change: 2.03p (0.25%)
Prices as at 27 October 2020
Change: 2.03p (0.25%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 27 October 2020
Change: 2.03p (0.25%)
Prices as at 27 October 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

We think ASI is home to a high-calibre team of emerging markets investors. They have a good long-term track record of investing across this part of the world. They manage a number of country-specific and regional funds and we view this one as being a 'best ideas' product, containing their favourite ideas from the higher-risk emerging market universe.

We think the fund has the potential to perform well over the long run, though it doesn't currently feature on the Wealth 50 list of our favourite funds. This is because ASI wants to keep the fund a manageable size, which the group thinks is in the best interests of existing investors, and has applied a 2% initial charge to invest in it.

Our view on the sector

The emerging markets are a diverse range of economies stretching from Asia and Eastern Europe to South Africa and Latin America. Some are rich in commodities and natural resources, some rely on exporting goods to Western economies, and others have a vibrant consumer-driven society. They're all at different stages of economic development and while we think they've got great long-term growth prospects, they're more volatile and higher-risk than more developed ones. We think a broad global emerging markets fund could be a good starting point, then there are others that focus on a specific country or region.

Performance Analysis

The fund has a good record of performing better than the broader emerging stock market over the long run. It's tended to hold up better than the market during difficult times, and still capture most of the upside of a rising market. Past performance isn't a guide to future returns though.

The fund went through a tougher time from 2013 to 2018 and didn't perform as well as the market. More recently there's been an improvement in the fund's performance, which is encouraging, though this is over a short timeframe.

Investment Philosophy

The team look for easy-to-understand businesses that they're comfortable to invest in for the long term. They'll only invest in a company when they can buy their shares at what they think is a price below their true worth.

Process and Portfolio Construction

Members of the team are based throughout Asia and the emerging markets. This means they're closer to what's going on in different countries, and can regularly meet the management teams of companies. They're focused on finding companies in good financial health, run by robust and trustworthy management teams. They sometimes invest in out-of-favour companies because they can often be bought at a more attractive share price.

They mainly invest in larger companies. A lot of them are consumer-related and could benefit from rising wealth and demand for products and services from domestic consumers. They also have the option to use derivatives which increases risk.

question mark Manager Track Record Based on HL Quantitative Research

  • ASI Emerging Markets Equity A Acc
  • IA Global Emerging Markets

Fund Track Record

27/10/15 to 27/10/16 27/10/16 to 27/10/17 27/10/17 to 27/10/18 27/10/18 to 27/10/19 27/10/19 to 27/10/20
Annual return 38.07% 6.91% -15.18% 16.71% 10.45%

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.

Fund Management Group Comment

Aberdeen Asset Management is a global investment management group, managing assets for both institutional and retail clients from offices around the world. Aberdeen is best known for its Global Emerging Markets and Asian funds.

Information about the fund

Fund manager biography

Manager Name: Global Emerging Markets Equity Team
Manager start date: 16 March 1987
Manager located in: TBC

Global Emerging Markets Equity Team

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account