Fund Objective

The Fund aims to provide long-term growth.

View on Past Performance

Despite recent setbacks we remain fundamentally positive on the outlook Asia Pacific equities. The resilience of the region's economies is encouraging and we believe that stock markets will resume their positive trend as levels of risk aversion normalise and inflation eases.Regional governments have the potential to counteract slower growth through fiscal stimulus, particularly in areas like healthcare and education where infrastructure spending bottlenecks exist. Both healthcare and education are favoured areas within the portfolio.We continue to favour areas benefiting from consumption growth and are increasingly mindful of defensive areas like consumer staples and utilities where cost pressures are relatively intense.

Future Expectations

More broadly we have been looking to temper our overall exposure to risk - increasing the emphasis on attractively valued firms capable of growing their businesses against more challenging conditions, as well as those characterised by stable cashflows.

Fund Details