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- The Fund invests primarily in equity securities or equity-related securities issued by large and mid capitalisation established or having significant operations in China.
- Investing in mid-capitalisation companies securities may have lower liquidity and their prices are more volatile to adverse economic developments.
- 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.
- The Fund’s investments will be concentrated in China, single sector or small numbers of companies 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 Focus Fund - Class III (Acc) USD
Strategy Overview
The Fund aims to achieve long term capital appreciation and invests primarily in a concentrated portfolio of equity securities or equity-related securities of large and mid-capitalisation companies established or having significant operations in Mainland China and which are listed, traded or dealt in on regulated markets worldwide.
Fund Details
Fund information (as at 31/10/2025)
| Fund launch date | 30 January 2008 |
|---|---|
| Share class launch date | 31 July 2012 |
| Total fund size | US$98.4mn |
| Number of holdings | 44 |
| 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 | 8.6 | 19.2 | 14.1 | 38.3 | -22.0 | 35.3 |
| Benchmark * | 10.8 | 36.2 | 33.7 | 97.1 | -6.8 | 116.0 |
| SHARE CLASS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Class III (Acc) USD | 8.6 | -23.0 | -16.5 | -13.3 | 27.7 | 28.2 | -12.3 | 26.1 | -3.9 | -15.3 |
| Benchmark * | 19.4 | -11.2 | -21.9 | -21.7 | 29.5 | 23.5 | -18.9 | 54.1 | 1.1 | -7.6 |
| 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION | |
|---|---|---|---|---|---|---|
| Share Class (%) | 8.6 | 19.2 | 14.1 | 38.3 | -22.0 | 35.3 |
| Benchmark (%) | 10.8 | 36.2 | 33.7 | 97.1 | -6.8 | 116.0 |
Calendar year performance (%) as at 31 Oct 2025
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Share Class (%) | 8.6 | -23.0 | -16.5 | -13.3 | 27.7 | 28.2 | -12.3 | 26.1 | -3.9 | -15.3 |
| Benchmark (%) | 19.4 | -11.2 | -21.9 | -21.7 | 29.5 | 23.5 | -18.9 | 54.1 | 1.1 | -7.6 |
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 | 9.3 |
| ZTO Express (Cayman), Inc. Class A | Industrials | 4.2 |
| Huazhu Group Ltd | Consumer Discretionary | 4.0 |
| China Resources Beer (Holdings) Co. Ltd. | Consumer Staples | 4.0 |
| Shenzhou International Group Holdings Limited | Consumer Discretionary | 3.8 |
| Netease Inc | Communication Services | 3.6 |
| Hongfa Technology Co., Ltd. Class A | Industrials | 3.5 |
| PDD Holdings Inc. Sponsored ADR Class A | Consumer Discretionary | 3.4 |
| Shenzhen Mindray Bio-Medic-A | Health Care | 3.1 |
| Meituan Class B | Consumer Discretionary | 3.1 |
† 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 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.