Morningstar Fund Report  | 05/04/2025Print

Veritas Asian A USD Acc

Performance History31/03/2025
Growth of 1,000 (EUR)
Veritas Asian A USD Acc
Fund--21.7-8.913.3-6.7
+/-Cat--8.7-11.0-1.8-2.2
+/-Idx--11.1-13.4-2.7-3.4
 
Category: Asia-Pacific ex-Japan Equity
Benchmarks: Morningstar APAC xJpn TME N...
Key Stats
NAV
04/04/2025		 USD 545.85
Day Change -0.09%
Morningstar Category™ Asia-Pacific ex-Japan Equity
ISIN IE00BGV1VP53
Fund Size (Mil)
04/04/2025		 USD 1602.04
Share Class Size (Mil)
04/04/2025		 USD 5.22
Max Initial Charge -
Ongoing Charge
19/12/2024		  1.09%
Morningstar Research
Analyst Report25/03/2025
Lena Tsymbaluk, Associate Director
Morningstar, Inc

Veritas Asian benefits from a seasoned manager, a stable and experienced supporting team, and a differentiated approach. The clean A GBP share class maintains its Morningstar Analyst Rating of Gold. The other share classes range from Silver to...

Click here to read this analyst report
Morningstar Pillars
People25
Parent24
Process25
Performance
Price
Investment Objective: Veritas Asian A USD Acc
The Sub-Fund is designed for long-term investors who wish to build capital over a number of years through investment in a portfolio of equity and equity related securities in companies located in Asia (excluding Japan). The Sub-Fund principally invests in equities listed or traded on Recognised Exchanges in Asia (excluding Japan). Thereby, at least two thirds of the total assets of the Sub-Fund are allocated to issuers of investments which have their registered office in Asia or have the predominant part of their commercial activity in Asia or, as holding companies, must predominantly hold participations in companies with registered offices in Asia.
Returns
Trailing Returns (EUR)04/04/2025
YTD-8.00
3 Years Annualised-6.05
5 Years Annualised-
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Ezra Sun
18/10/2004
Inception Date
01/02/2021

Benchmarks
Fund BenchmarkMorningstar Benchmark
MSCI AC Asia Pac Ex JPN NR USDMorningstar APAC xJpn TME NR USD
Portfolio Profile for  Veritas Asian A USD Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stocks100.200.00100.20
Bonds0.000.000.00
Cash0.150.36-0.20
Other0.010.000.01
Top 5 Regions%
Asia - Emerging41.47
Asia - Developed40.32
Australasia15.89
Eurozone1.37
United States0.95
Top 5 Sectors%
Technology29.75
Consumer Cyclical19.66
Communication Services14.83
Industrials13.29
Financial Services7.95
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology9.75
Tencent Holdings LtdCommunication ServicesCommunication Services6.91
Hanwha Aerospace Co LtdIndustrialsIndustrials5.56
HD Hyundai ElectricIndustrialsIndustrials4.80
Alibaba Group Holding Ltd Ordina... Consumer CyclicalConsumer Cyclical4.38
Increase Decrease New since last portfolio
Veritas Asian A USD Acc
Growth Of 1000 (EUR) 31/03/2025
Fund:  Veritas Asian A USD Acc
Category:  Asia-Pacific ex-Japan Equity
Category Index:  Morningstar APAC xJpn TME NR USD
Growth of 1,000 EUR
Annual Returns (EUR)31/03/2025
 20222023202431/03
Total Return-21.71-8.8613.26-6.68
+/- Category-8.72-10.99-1.85-2.18
+/- Category Index-11.09-13.39-2.71-3.36
% Rank in Category96996677
Trailing Returns (EUR)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.09   2.180.29
1 Week-3.71   2.770.67
1 Month-8.40   -0.49-3.28
3 Months-8.86   1.35-2.47
6 Months-11.41   0.17-2.16
YTD-8.00   1.68-2.12
1 Year-0.61   0.04-5.29
3 Years Annualised-6.05   -4.57-6.75
5 Years Annualised-   --
10 Years Annualised-   --
 
Category: Asia-Pacific ex-Japan Equity
Category Index: Morningstar APAC xJpn TME NR USD
Quarterly Returns (EUR)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-6.68---
20244.087.152.80-1.21
2023-0.98-5.38-2.25-0.49
2022-12.26-5.76-3.11-2.28
2021-8.71-3.55-0.92
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearLowBelow Average1 star
5-Year--Not Rated
10-Year--Not Rated
OverallLowBelow Average1 star
 
Category :  Asia-Pacific ex-Japan EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.10 %
3-Yr Mean Return-3.99 %
 
3-Yr Sharpe Ratio-0.47
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar APAC xJpn TME NR USD  Morningstar APAC xJpn TME NR USD
3-Yr Beta0.900.90
3-Yr Alpha-7.78-7.78
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 61154-
Market Capitalisation% of Equity
Giant59.94
Large35.83
Medium3.27
Small0.97
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings18.331.28
Price/Book3.011.74
Price/Sales2.441.29
Price/Cash Flow10.371.41
Dividend-Yield Factor1.590.52
 
Long-Term Projected Earnings Growth17.201.92
Historical Earnings Growth13.271.51
Sales Growth9.663.63
Cash-Flow Growth12.231.62
Book-Value Growth11.771.61
 
Category: Asia-Pacific ex-Japan Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stocks100.200.00100.20
Bonds0.000.000.00
Cash0.150.36-0.20
Other0.010.000.01
World Regions28/02/2025
 % of EquityRelative to Category
United States0.950.67
Canada0.000.00
Latin America0.000.00
United Kingdom0.000.00
Eurozone1.3717.02
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.00-
Middle East0.000.00
Japan0.000.00
Australasia15.890.92
Asia - Developed40.320.99
Asia - Emerging41.471.11
 
Category: Asia-Pacific ex-Japan Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials1.080.23
Consumer CyclicalConsumer Cyclical19.661.59
Financial ServicesFinancial Services7.950.32
Real EstateReal Estate3.601.30
Consumer DefensiveConsumer Defensive3.170.75
HealthcareHealthcare5.530.86
Communication ServicesCommunication Services14.831.76
EnergyEnergy1.140.75
IndustrialsIndustrials13.291.46
TechnologyTechnology29.751.23
 
Category: Asia-Pacific ex-Japan Equity
Top 10 Holdings28/02/2025
 Portfolio
Total Number of Equity Holdings53
Total Number of Bond Holdings0
Assets in Top 10 Holdings48.60
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan9.75
Tencent Holdings Ltd308China6.91
Hanwha Aerospace Co Ltd310Korea, Republic Of5.56
HD Hyundai Electric310Korea, Republic Of4.80
Alibaba Group Holding Ltd Ordinary Sh... 102China4.38
HDFC Bank Ltd103India4.29
Aristocrat Leisure Ltd102Australia3.99
Goodman Group104Australia3.60
Zomato Ltd102India2.90
REA Group Ltd308Australia2.42
 
Increase Decrease New since last portfolio
Category: Asia-Pacific ex-Japan Equity
 
Management
Name of CompanyVeritas Asset Management LLP
Phone+44 (0)20 3758 9900
Websitewww.veritas-asset.com
Address1 Smart’s Place, Holborn
 London   WC2B 5LW
 United Kingdom
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date01/02/2021
Fund Advisor(s)
Veritas Asset Management LLP
Fund ManagerEzra Sun
Manager Start Date18/10/2004
Education
Nankai University, China, B.A.
Nankai University, China, M.A.
 
Biography
Partner, Fund Manager and Head of Asia of Veritas Asset Management LLP. Joined the company in 2004. Director of Investment Management and Investment Leader Asia Newton Investment Management 1995 to 2004. Education: BA, (Nankai University, China), MA, (Nankai University, China), Research Student Cambridge University.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Deferred Loadn/a
Switching Fee-
Annual Charges
Annual Management Chargen/a
Ongoing Charge1.09%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-