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Fact sheet as of December 04, 2023
SEB Asia ex. Japan Fund
The fund is an actively managed equity fund that principally invests in equities and equity-related instruments in Asia excluding Japan.
Investment Philosophy

Most investors proceed from conventional financial theory. According to such theory, the investor is rational, the market is effective, and the only way of achieving higher return is to take a higher market risk. The management team believes that there are divergences within this theory, and that a higher market risk does not always provide proportionately higher return – i.e. an investor is not fully compensated for taking greater risks. Moreover, the team believes that market players do not interpret available information in a consistent way. All in all, this situation provides opportunities to create added value for investors through active management. A structured and rule-based investment process captures best the potential to objectively secure this added value.

Key Facts
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Base CurrencyUSD
Share ClassC (USD)
ISIN-codeLU0011900676
BenchmarkMSCI All Countr...
Year of launch1986
Value at launch (USD)1.00
Legal StructureUCITS
Fund Management CompanySEB Investment Management AB
Morningstar Rating (3 years) 31 Oct 2023
Turnover Ratio*1.12
* 12 months rolling, last updated 31 Oct 2023
Dividend
The share class does not pay dividends; the return is reinvested
Costs
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Management Fee1.75
Ongoing Charges*1.83
Entry FeeMax 5%
* The ongoing charges includes the management fee and constitutes payment for fund management, including marketing and distribution. The ongoing charges does not include transaction costs such as brokerage commissions on securities transactions.
Risk Measures (USD)*
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Standard Deviation (Fund)18.5
Standard Deviation (Index)19.5
Tracking Error4.3
Active share **70.6
Sharpe Ratio-0.3
Information Ratio-0.2
Alpha-0.8
Beta0.9
* 36 months rolling, last updated 31 Oct 2023
** Active share measures the difference between the fund’s and the benchmark’s holdings. From 31 Oct 2023
Investment Process

Investment universe

The fund is actively managed and focuses on Asian equity markets, excluding Japan. The investment universe comprises all stocks in the MSCI All Country (AC) Asia ex Japan Net Return Index (a total return equity index for Asia except Japan), although the team also aims to find attractive investments from the wider Asia except Japan universe. The fund is also allowed to invest in companies issued in other markets given that at least half of their business or sales derive from Asia except Japan. Since the fund invests outside Sweden the fund value will be affected by how the Swedish krona develops in relation to other currencies. Derivative instruments may be used as part of the fund's investment universe. The fund may invest in other instruments than those mentioned above. For more information about investment possibilities etc., see the fund´s full prospectus.

Investment team

The fund is managed by the Global Equities team (QPM) within SEB Investment Management AB with Marie-Anne Meldahl as the lead portfolio manager. The team, based in Stockholm, employs a rule-based systematic and disciplined investment process.

Research

The team uses a structured and rule-based investment process founded on an analysis of each individual company's quality, profitability, growth, valuation, sentiment, and risk profile. These qualities are then weighed together to create an objective picture that distinguishes attractive companies from those that are less attractive.

Portfolio construction

The team constructs the portfolio by focusing on selected equities, based on their analysis, that provide the portfolio with a desired active exposure and risk profile. At times, country and sector variances compared with index may be significant. The management team places considerable importance on diversification, execution, and limiting transaction costs.

Performance (USD)
Currency: USD        |        NAV: 9.50 (12/4/2023)        |        AuM (M USD) : 116.66 (10/31/2023)
SEB Asia ex. Japan Fund (FundUSD)MSCI All Country (AC) Asia ex Japan Net Return Ind... (Benchmark, )
 Fund USDBenchmark
Return % USDFundBenchmark
Accumulated since  
1 day-0.5-0.1
1 month2.22.7
3 months-1.3-2.6
6 months-0.4-1.2
1 year0.70.7
3 years-19.7-19.7
5 years-10.79.3
Year to date3.11.5
Average annual growth  
3 years-7.0-7.1
5 years-2.21.8
CurrencyAdd benchmark
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Period
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Largest Positions*
% of Total  
 % of Total
Taiwan Semiconductor Manufacturing7.8
Samsung Electronics2.8
Tata Consultancy Services Ltd2.7
China Construction Bank2.7
Tencent Holdings2.6
Power Grid Corp of India Ltd2.3
Kuaishou Technology2.3
Kia Motors Corp2.3
Torrent Pharmaceuticals Ltd2.2
Accton Technology Corp2.2
* Last updated 29 Sep 2023. Source: SEB
* Numbers are absolute, not relative
Sector Allocation*
* Last updated 31 Oct 2023. Source: SEB
* Numbers are absolute, not relative
Other Information

As of 2 November 2016, the fund´s Management company is SEB Investment Management AB.

This material is prepared by SEB and contains general information regarding financial instruments marketed, sold or solicited by SEB. SEB is the global brand name for Skandinaviska Enskilda Banken AB (publ), its subsidiaries and affiliated companies. Neither this material nor the products described in it are intended for distribution or sale in the United States or to US persons, and any such distribution is not allowed. The offering of shares or units in the funds may also be restricted in other jurisdictions. This document may not be used to make an offer or solicitation with respect to the sale of shares or units where such an offer or solicitation is unlawful. Although the information in this material is based on sources deemed by SEB to be reliable, SEB assumes no liability whatsoever for incorrect or missing information or for any loss, damage or claim arising from the use of this material. Past performance does not guarantee future performance. The value of investment funds and other financial instruments may rise as well as fall and there is no guarantee you will recover your original investment. If you or a fund invests in financial instruments denominated in a foreign currency, changes in currency exchange rates can affect the return on the investment. SEB makes no representation that funds whose share or unit classes aim at hedging the fund’s return from changes in currency exchange rates will succeed in achieving this. Any tax information in this material is based on regulations valid as per the date of this presentation and may be subject to change. Note that any tax information in this material is general. Kindly contact your SEB investment advisor for tax and investment advice appropriate for your situation. You are fully and solely responsible for your investment decision. This material is not intended for or suitable as the sole basis for investment decisions. Instead, you should base your decision on the information in the fund’s product documentation, including its fact sheet, Key Information Document, fund regulations and prospectus. These are available on www.sebgroup.lu/funds.
Tuesday, December 5, 2023 5:58:58 PM