Fund Objective

The Fund's investment objective is to provide long term capital growth by matching the capital performance of the FTSE World Asia Pacific excluding Japan Index.

View on Past Performance

Fears over US financials continued to dominate highly volatile markets. Philippines was the best performing country, China was the worst. Utilities was the best performing sector, materials was the worst performer over the month.Our aim is to be as close to full replication as is practically possible subject to liquidity constraints. The Fund replicates changes to the index bearing in mind the trade-off between tracking error and trading costs.

Future Expectations

Valuations in Asia are trading significantly below the region's post-Crash average. However investors are cautious over the company earnings outlook. The region is now more sensitive to risks such as inflation, commodity price volatility and policy risk.

Fund Details