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- The Fund invests primarily in equity securities or equity-related securities issued by companies with either assets in, or revenues derived from China.
- The Fund invests in emerging markets which may have increased risks than developed markets including liquidity risk, currency risk/control, political and economic uncertainties, high degree of volatility, settlement risk and custody risk.
- Investing in securities of small /mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments.
- The Fund’s investments may be concentrated in China and single sector which may have higher volatility or greater loss of capital than more diversified portfolios.
- The Fund may expose to China market risk including repatriation risk, uncertainties to PRC taxation policies and risks associated with StockConnects, QFI, 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 China Growth Fund - Class I N Hedged (Acc) RMB
Strategy Overview
The Fund aims to achieve long term capital appreciation and invests primarily in equity securities or equity-related securities issued by companies with either assets in, or revenues derived from the People’s Republic of China that are listed, traded or dealt in on regulated markets in China, Hong Kong, Taiwan, the U.S. or in a member state of OECD.
Fund Details
Fund information (as at 31/10/2025)
| Fund launch date | 20 May 1992 |
|---|---|
| Share class launch date | 01 December 2022 |
| Total fund size | RMB2,793.6mn |
| Number of holdings | 51 |
| Minimum initial investment | RMB6,700 |
| Minimum subsequent investment | RMB3,350 |
| Management fee | 1.75%p.a. |
| Initial charge | 5.0% |
Performance
Cumulative performance (%) as at 31 Oct 2025
| SHARE CLASS | 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION |
|---|---|---|---|---|---|---|
| Class I N Hedged (Acc) RMB | 8.8 | 18.8 | 15.4 | - | - | -2.9 |
| Benchmark * | 10.8 | 36.2 | 33.7 | - | - | 50.9 |
| SHARE CLASS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Class I N Hedged (Acc) RMB | 0.1 | -20.5 | - | - | - | - | - | - | - | - |
| Benchmark * | 19.4 | -11.2 | - | - | - | - | - | - | - | - |
| 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION | |
|---|---|---|---|---|---|---|
| Share Class (%) | 8.8 | 18.8 | 15.4 | - | - | -2.9 |
| Benchmark (%) | 10.8 | 36.2 | 33.7 | - | - | 50.9 |
Calendar year performance (%) as at 31 Oct 2025
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Share Class (%) | 0.1 | -20.5 | - | - | - | - | - | - | - | - |
| Benchmark (%) | 19.4 | -11.2 | - | - | - | - | - | - | - | - |
Price
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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 |
| Netease Inc | Communication Services | 5.1 |
| Huazhu Group Ltd | Consumer Discretionary | 3.8 |
| Hongfa Technology Co., Ltd. Class A | Industrials | 3.7 |
| Midea Group Co. Ltd. Class A | Consumer Discretionary | 3.4 |
| Shenzhen Mindray Bio-Medic-A | Health Care | 3.4 |
| Haier Smart Home Co., Ltd. Class H | Consumer Discretionary | 3.2 |
| Shenzhou International Group Holdings Limited | Consumer Discretionary | 3.2 |
| Trip.com Group Ltd. | Consumer Discretionary | 3.1 |
| Fuyao Glass Industry Group Co., Ltd. Class H | 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%.
The Fund may hold multiple equity securities in the same company, which have been combined to provide the Fund's total position in that company. Index weights, if any, typically include only the main domestic-listed security. The above Fund weightings may or may not include reference to multiple securities.
* MSCI China 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.
The investment returns are denominated in RMB. US/HK dollar-based investors are therefore exposed to fluctuations in the US/HK dollar / RMB exchange rate.