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- The Fund invests primarily in equity securities or equity-related securities listed on HKEx or issued by companies which in Investment Manager’s opinion have significant assets, business, production activities, trading or other business interests in Hong Kong.
- The Fund’s investments will be concentrated in Hong Kong or may be concentrated in a single sector which may have higher volatility or greater loss of capital than more diversified portfolios.
- Investing in small /mid-capitalisation securities may have lower liquidity and their prices are more volatile to adverse economic developments.
- The Fund may expose to China market risk including repatriation risk, uncertainties to PRC taxation policies and risks associated with StockConnects, the ChiNext market and/or the STAR board. The Fund may also expose to RMB currency and conversion risk.
- The Fund may use FDIs for hedging and efficient portfolio management purposes, which may subject the Fund to additional liquidity, valuation, counterparty and over the counter transaction risks.
- It is possible that a part or entire value of your investment could be lost. You should not base your investment decision solely on this document. Please read the offering document including risk factors for details.
FSSA Hong Kong Growth Fund - Class III (Acc) USD
Strategy Overview
The Fund aims to achieve long term capital appreciation and invests primarily in equity securities or equity-related securities listed on Hong Kong Stock Exchange or equity securities and equity related securities issued by such companies which in the Investment Manager’s opinion have significant assets, business, production activities, trading or other business interests in Hong Kong and traded on regulated markets.
Fund Details
Fund information (as at 31/10/2025)
| Fund launch date | 30 July 1999 |
|---|---|
| Share class launch date | 30 July 1999 |
| Total fund size | US$124.8mn |
| Number of holdings | 45 |
| Minimum initial investment | US$500,000 |
| Management fee | 1.0%p.a. |
| Initial charge | 5.0% |
Performance
Cumulative performance (%) as at 31 Oct 2025
| SHARE CLASS | 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION |
|---|---|---|---|---|---|---|
| Class III (Acc) USD | 8.7 | 27.8 | 27.0 | 55.1 | 8.3 | 1507.7 |
| Benchmark * | 4.3 | 32.1 | 26.7 | 51.7 | 20.5 | 358.7 |
| SHARE CLASS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Class III (Acc) USD | 7.8 | -16.9 | -10.7 | -5.2 | 12.9 | 19.5 | -7.3 | 43.7 | 4.4 | -1.0 |
| Benchmark * | 0.1 | -14.8 | -4.7 | -3.9 | 5.8 | 10.3 | -7.8 | 36.2 | 2.3 | -0.5 |
| 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION | |
|---|---|---|---|---|---|---|
| Share Class (%) | 8.7 | 27.8 | 27.0 | 55.1 | 8.3 | 1507.7 |
| Benchmark (%) | 4.3 | 32.1 | 26.7 | 51.7 | 20.5 | 358.7 |
Calendar year performance (%) as at 31 Oct 2025
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Share Class (%) | 7.8 | -16.9 | -10.7 | -5.2 | 12.9 | 19.5 | -7.3 | 43.7 | 4.4 | -1.0 |
| Benchmark (%) | 0.1 | -14.8 | -4.7 | -3.9 | 5.8 | 10.3 | -7.8 | 36.2 | 2.3 | -0.5 |
Price
Chart
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Historical price
Unit prices are available up to 2 days prior to current date
Holdings
Top 10 holdings (as at 31/10/2025)
| Stock name | Sector | % |
|---|---|---|
| Tencent Holdings Ltd | Communication Services | 9.5 |
| AIA Group Limited | Financials | 7.2 |
| Netease Inc | Communication Services | 5.1 |
| Jardine Matheson Holdings Limited | Industrials | 4.2 |
| Huazhu Group Ltd | Consumer Discretionary | 3.8 |
| Wasion Holdings, Ltd. | Information Technology | 3.3 |
| Shenzhou International Group Holdings Limited | Consumer Discretionary | 3.2 |
| Haier Smart Home Co., Ltd. Class H | Consumer Discretionary | 3.2 |
| Trip.com Group Ltd. | Consumer Discretionary | 3.1 |
| ANTA Sports Products Ltd. | Consumer Discretionary | 2.8 |
† Allocation percentage is rounded to the nearest one decimal place and the total allocation percentage may not add up to 100%.
Gross of tax benchmark performance is shown before 1 July 2016 and net of tax benchmark performance is shown after the aforementioned date.
* MSCI Hong Kong Net Index
Price & performance disclaimers
This Fund is a sub fund of Ireland domiciled First Sentier Investors Global Umbrella Fund Plc.
Price / Performance source: Lipper, Nav-Nav (with dividend reinvested where applicable).
Past performance is not a guide to future performance. Performance data is calculated on a net basis by deducting fees incurred at fund level (e.g. the management and administration fee) and other costs charged to the fund (e.g. transaction and custody costs), save that it does not take account of initial charges or switching fees (if any).
All prices are for indication only. For detail, please refer to the Fund’s factsheet for further details including investment objective & strategy, asset allocation, top 10 holdings, comparison with benchmark (if any) and disclosure.
Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell the same. All securities mentioned herein may or may not form part of the holdings of First Sentier Group's portfolios at a certain point in time, and the holdings may change over time.