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- The Fund invests primarily in equity securities and equity related securities in Indian subcontinent which may expose to potential changes in tax, political, social and economic environment.
- 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 small /mid-capitalisation securities may have lower liquidity and their prices are more volatile to adverse economic developments.
- The Fund’s investments may be concentrated in a single country/ sector, specific region or small numbers of countries/ companies which may have higher volatility or greater loss of capital than more diversified portfolios.
- 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 Indian Subcontinent Fund - Class I (Acc) USD
Strategy Overview
The Fund aims to achieve long term capital appreciation and invests primarily in a diversified portfolio of equity securities and equity related securities issued by companies of the Indian subcontinent. Countries of the Indian subcontinent include India, Pakistan, Sri Lanka and Bangladesh. The Fund concentrates on securities that are listed, traded or dealt in on regulated markets in the Indian subcontinent and offshore instruments issued by companies established or operating or have significant interests in the Indian subcontinent and listed on other regulated markets.
Fund Details
Fund information (as at 31/10/2025)
| Fund launch date | 07 February 1994 |
|---|---|
| Share class launch date | 23 August 1999 |
| Total fund size | US$479.5mn |
| Number of holdings | 39 |
| Minimum initial investment | US$1,000 |
| Minimum subsequent investment | US$500 |
| 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 (Acc) USD | -1.7 | -4.4 | -7.5 | 40.4 | 85.2 | 1708.2 |
| Benchmark * | 1.6 | 2.2 | -1.2 | 36.6 | 91.0 | 1079.0 |
| SHARE CLASS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Class I (Acc) USD | 15.5 | 27.3 | -7.2 | 21.4 | 8.8 | 3.6 | -7.9 | 40.0 | 1.6 | 5.1 |
| Benchmark * | 11.2 | 20.8 | -8.0 | 26.2 | 15.6 | 7.6 | -7.3 | 38.8 | -1.4 | -6.1 |
| 3MTHS | YTD | 1YR | 3YRS | 5YRS | SINCE INCEPTION | |
|---|---|---|---|---|---|---|
| Share Class (%) | -1.7 | -4.4 | -7.5 | 40.4 | 85.2 | 1708.2 |
| Benchmark (%) | 1.6 | 2.2 | -1.2 | 36.6 | 91.0 | 1079.0 |
Calendar year performance (%) as at 31 Oct 2025
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Share Class (%) | 15.5 | 27.3 | -7.2 | 21.4 | 8.8 | 3.6 | -7.9 | 40.0 | 1.6 | 5.1 |
| Benchmark (%) | 11.2 | 20.8 | -8.0 | 26.2 | 15.6 | 7.6 | -7.3 | 38.8 | -1.4 | -6.1 |
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 | % |
|---|---|---|
| HDFC Bank INR1 | Financials | 8.4 |
| Kotak Mahindra Bank Limited | Financials | 7.5 |
| ICICI Bank Limited | Financials | 4.5 |
| ICICI Lombard General Insurance Co. Ltd. | Financials | 4.1 |
| HCL Technologies Limited | Information Technology | 4.0 |
| Bharti Airtel Limited | Communication Services | 3.8 |
| Bosch Limited | Consumer Discretionary | 3.5 |
| KEI Industries Limited | Industrials | 3.3 |
| Maruti Suzuki India Limited | Consumer Discretionary | 3.3 |
| Oberoi Realty Limited | Real Estate | 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.
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 India 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.