Ashmore GCC Equity Fund
FUND UPDATE July 2015
Ashmore GCC Equity Fund Share class: SAR
Fund objective and strategy To provide medium to long-term capital growth by investing in a diversified portfolio of shares of companies listed on the GCC stock exchanges.
Fund facts Information at 31.07.2015. Fund size SAR 28.1 million
Fund inception date 23 February 2015
Performance inception date 23 February 2015
Unit Price SAR10.50
Benchmark S&P GCC Index
Performance Net returns
1 month
YTD
1 year
3 years
5 years
10 years
Since inception
Fund
0.00%
-
-
-
-
-
4.98%
Benchmark
0.42%
-
-
-
-
-
-0.12%
Periods greater than one year are annualised, dividends reinvested. The value of an investment in the Fund may fall as well as rise and investors may not get back the amount originally invested. Changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Past performance is not a reliable indicator of future results.
Calendar year performance Net returns
2014
2013
2012
2011
2010
2009
2008
Fund
-
-
-
-
-
-
-
Benchmark
-
-
-
-
-
-
-
Performance statistics
Fund
Fund statistics
Fund 13.6x
Turnover
-
P/E
Standard Deviation
-
P/BV
2.3x
Sharpe Ratio
-
DY
3.1%
-
Weighted average market cap
$5.1 bn
Median market cap
$1.6 bn
Beta Cash
9.28%
Active share
86.8
Breakdown by market cap US$2 bn < US$5.9 bn
28.16
> US$5.9 bn 0%
10%
20%
30%
40%
Fund information Bloomberg SAR:
Accumulation/Income Accumulation
ISIN SAR:
Minimum initial investment SAR 10,000
SEDOL SAR:
Subscriptions On any Business Day
Domicile Saudi Arabia
50%
Redemptions On any Business Day
Registered for sale Registered with Tadawul Administrator HSBC Saudi Arabia Limited Investment manager Ashmore Investment Saudi Arabia
FUND UPDATE July 2015 Ashmore GCC Equity Fund Share class: SAR
Top country exposure
Fund
Benchmark
Fund
Benchmark
Saudi Arabia
48.0%
60.0%
Financials
33.9%
52.5%
United Arab Emirates
24.6%
14.5%
Consumer Discretionary
21.7%
3.9%
Qatar
7.8%
10.7%
Industrials
15.9%
7.6%
Kuwait
7.4%
10.4%
Consumer Staples
15.0%
4.4%
Oman
3.0%
2.7%
Health Care
2.2%
1.4%
5
6
Telecommunication Services
1.8%
Materials
-
19.7%
Utilities
-
2.0%
Energy
-
1.6%
Not Classified
-
0.0%
Total number of countries
Sector exposure
6.9%
Total
90.7%
100.0%
Top 5 positions
Fund
Benchmark
Top 5 overweight positions
Fund
Benchmark
Saudi Hollandi Bank
5.5%
0.6%
Saudi Hollandi Bank
5.5%
0.6%
Dubai Islamic Bank Pjsc
4.9%
0.6%
Saudi Co For Hardware Llc
4.7%
-
Saudi Co For Hardware Llc
4.7%
-
Dubai Islamic Bank Pjsc
4.9%
0.6%
Samba Financial Group
4.7%
2.1%
Emirates Nbd Pjsc
4.3%
-
Emirates Nbd Pjsc
4.3%
0.0%
Gulf Warehousing Co
4.2%
Total number of holdings
29
314
Top 5 underweight positions
Fund
Total number of holdings look-through
35
Benchmark
Al Rajhi Bank
-
5.8%
Saudi Basic Industries Corp
-
5.5%
National Commercial Bank
-
3.7%
Qatar National Bank Saq
-
2.6%
National Bank Of Kuwait Sakp
-
2.0%
Performance attribution (Top 3)
Total
Performance attribution (Bottom 3)
Dubai Islamic Bank Pjsc
0.40%
Saudi Co For Hardware Llc
-0.43%
Emirates Nbd Pjsc
0.28%
Al Rajhi Bank
-0.42%
Mezzan Holding Co Kscc
0.21%
United Electronics Co
-0.30%
Total
1. All performance statistics shown over rolling 3 years (or 1 year where 3 years of data is not yet available). Turnover is shown over rolling 3 years or Since Inception (whichever is the lesser). Sharpe ratio assumes the US 3-month T-Bill risk free rate. 2. Top 10 positions are presented at issuer level. 3. The calculation methodology for performance attribution and a list showing every holding’s contribution to the fund’s performance during the measurement period is available upon request to [email protected]. Sources are Ashmore or administrator where appropriate.
Contacts
Ashmore Investment Saudi Arabia 3rd Floor, Tower B, Olaya Towers, Olaya Main Street, P.O. Box 8022, Riyadh 12213, Kingdom of Saudi Arabia E: [email protected] www.ashmoregroup.com
Risk Warning: This document is issued by Ashmore Investment Saudi Arabia, Commercial Registration number CR NO.1010420651, and registered with Capital Market Authority license number 14174-22 to carry business as an asset manager and investment adviser. The information and any opinions contained in this document have been compiled in good faith, but no representation or warranty, express or implied, is made as to accuracy, completeness or correctness. Save to the extent (if any) that exclusion of liability is prohibited by any applicable law or regulation, Ashmore, its officers, employees, representatives and agents expressly advise that they shall not be liable in any respect whatsoever for any loss or damage, whether direct, indirect, consequential or otherwise however arising (whether in negligence or otherwise) out of or in connection with the contents of or any omissions from this document. This document does not constitute an offer to sell, purchase, subscribe for or otherwise invest in Units of the Fund and is not intended to provide advice on the merits of investing in the Fund. The value of the Units may fall as well as rise and investors may not get back the amount originally invested. The Fund is available to Unit holders under the rules of the Capital Market Authority. Prospective investors should obtain and review the Terms and Conditions or other offering documents relating to the Units of the Fund, including the description of risk factors/ investment considerations contained in the Terms and Conditions or the information memorandum prior to making any decision to invest in such Units. Important Information: You may find the terms and conditions on our website : www.ashmoregroup.com
Ashmore GCC Equity Fund Share class: SAR
Fund objective and strategy To provide medium to long-term capital growth by investing in a diversified portfolio of shares of companies listed on the GCC stock exchanges.
Fund facts Information at 31.07.2015. Fund size SAR 28.1 million
Fund inception date 23 February 2015
Performance inception date 23 February 2015
Unit Price SAR10.50
Benchmark S&P GCC Index
Performance Net returns
1 month
YTD
1 year
3 years
5 years
10 years
Since inception
Fund
0.00%
-
-
-
-
-
4.98%
Benchmark
0.42%
-
-
-
-
-
-0.12%
Periods greater than one year are annualised, dividends reinvested. The value of an investment in the Fund may fall as well as rise and investors may not get back the amount originally invested. Changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Past performance is not a reliable indicator of future results.
Calendar year performance Net returns
2014
2013
2012
2011
2010
2009
2008
Fund
-
-
-
-
-
-
-
Benchmark
-
-
-
-
-
-
-
Performance statistics
Fund
Fund statistics
Fund 13.6x
Turnover
-
P/E
Standard Deviation
-
P/BV
2.3x
Sharpe Ratio
-
DY
3.1%
-
Weighted average market cap
$5.1 bn
Median market cap
$1.6 bn
Beta Cash
9.28%
Active share
86.8
Breakdown by market cap US$2 bn < US$5.9 bn
28.16
> US$5.9 bn 0%
10%
20%
30%
40%
Fund information Bloomberg SAR:
Accumulation/Income Accumulation
ISIN SAR:
Minimum initial investment SAR 10,000
SEDOL SAR:
Subscriptions On any Business Day
Domicile Saudi Arabia
50%
Redemptions On any Business Day
Registered for sale Registered with Tadawul Administrator HSBC Saudi Arabia Limited Investment manager Ashmore Investment Saudi Arabia
FUND UPDATE July 2015 Ashmore GCC Equity Fund Share class: SAR
Top country exposure
Fund
Benchmark
Fund
Benchmark
Saudi Arabia
48.0%
60.0%
Financials
33.9%
52.5%
United Arab Emirates
24.6%
14.5%
Consumer Discretionary
21.7%
3.9%
Qatar
7.8%
10.7%
Industrials
15.9%
7.6%
Kuwait
7.4%
10.4%
Consumer Staples
15.0%
4.4%
Oman
3.0%
2.7%
Health Care
2.2%
1.4%
5
6
Telecommunication Services
1.8%
Materials
-
19.7%
Utilities
-
2.0%
Energy
-
1.6%
Not Classified
-
0.0%
Total number of countries
Sector exposure
6.9%
Total
90.7%
100.0%
Top 5 positions
Fund
Benchmark
Top 5 overweight positions
Fund
Benchmark
Saudi Hollandi Bank
5.5%
0.6%
Saudi Hollandi Bank
5.5%
0.6%
Dubai Islamic Bank Pjsc
4.9%
0.6%
Saudi Co For Hardware Llc
4.7%
-
Saudi Co For Hardware Llc
4.7%
-
Dubai Islamic Bank Pjsc
4.9%
0.6%
Samba Financial Group
4.7%
2.1%
Emirates Nbd Pjsc
4.3%
-
Emirates Nbd Pjsc
4.3%
0.0%
Gulf Warehousing Co
4.2%
Total number of holdings
29
314
Top 5 underweight positions
Fund
Total number of holdings look-through
35
Benchmark
Al Rajhi Bank
-
5.8%
Saudi Basic Industries Corp
-
5.5%
National Commercial Bank
-
3.7%
Qatar National Bank Saq
-
2.6%
National Bank Of Kuwait Sakp
-
2.0%
Performance attribution (Top 3)
Total
Performance attribution (Bottom 3)
Dubai Islamic Bank Pjsc
0.40%
Saudi Co For Hardware Llc
-0.43%
Emirates Nbd Pjsc
0.28%
Al Rajhi Bank
-0.42%
Mezzan Holding Co Kscc
0.21%
United Electronics Co
-0.30%
Total
1. All performance statistics shown over rolling 3 years (or 1 year where 3 years of data is not yet available). Turnover is shown over rolling 3 years or Since Inception (whichever is the lesser). Sharpe ratio assumes the US 3-month T-Bill risk free rate. 2. Top 10 positions are presented at issuer level. 3. The calculation methodology for performance attribution and a list showing every holding’s contribution to the fund’s performance during the measurement period is available upon request to [email protected]. Sources are Ashmore or administrator where appropriate.
Contacts
Ashmore Investment Saudi Arabia 3rd Floor, Tower B, Olaya Towers, Olaya Main Street, P.O. Box 8022, Riyadh 12213, Kingdom of Saudi Arabia E: [email protected] www.ashmoregroup.com
Risk Warning: This document is issued by Ashmore Investment Saudi Arabia, Commercial Registration number CR NO.1010420651, and registered with Capital Market Authority license number 14174-22 to carry business as an asset manager and investment adviser. The information and any opinions contained in this document have been compiled in good faith, but no representation or warranty, express or implied, is made as to accuracy, completeness or correctness. Save to the extent (if any) that exclusion of liability is prohibited by any applicable law or regulation, Ashmore, its officers, employees, representatives and agents expressly advise that they shall not be liable in any respect whatsoever for any loss or damage, whether direct, indirect, consequential or otherwise however arising (whether in negligence or otherwise) out of or in connection with the contents of or any omissions from this document. This document does not constitute an offer to sell, purchase, subscribe for or otherwise invest in Units of the Fund and is not intended to provide advice on the merits of investing in the Fund. The value of the Units may fall as well as rise and investors may not get back the amount originally invested. The Fund is available to Unit holders under the rules of the Capital Market Authority. Prospective investors should obtain and review the Terms and Conditions or other offering documents relating to the Units of the Fund, including the description of risk factors/ investment considerations contained in the Terms and Conditions or the information memorandum prior to making any decision to invest in such Units. Important Information: You may find the terms and conditions on our website : www.ashmoregroup.com
