Pacific Tiger Fund | UCITS (2022)

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  • Investment involves risk. Past performance is not a guide to future performance. It is possible to lose the principal capital of your investment.
  • The Fund invests primarily in Asia ex Japan countries and markets. Investment in such emerging markets may involve increased risks such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
  • The Fund may also invest in frontier countries and markets which may involve additional risks and risks similar to investments in emerging countries and markets but to a greater extent.
  • The Fund may, at its discretion, pay dividends out of the capital or effectively out of capital in respect of the distribution shares. Payment of dividends out of capital and/or effectively out of capital amounts to a return or withdrawal of part of an investor's original investment, or from any capital gains attributable to that original investment. Any distribution may result in an immediate reduction of the net asset value per share of the Fund.
  • The Fund invests primarily in equity securities, which may result in increased volatility.
  • The Fund may invest in smaller companies which are likely to carry higher risks than larger companies.
  • The Fund may invest in financial derivative instruments (“FDIs”). Risk associated with FDIs include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk.Exposure to FDIs may lead to a high risk of significant loss by the Fund.
  • The Fund may use hedging techniques to attempt to offset certain market risks but there is no guarantee that hedging techniques will fully and effectively achieve their desired result.
  • Pandemics and other public health emergencies can result in market volatility and disruption.
  • Investors should not invest in the Fund solely based on the information in this website. Please readthe Hong Kong Offering Documentcarefully for further details including risk factors before investing.

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Snapshot
  • Seeks alpha in Asia’s emerging economies by capitalizing on the rising Asia consumer
  • High-conviction equity portfolio focused on sustainable growth companies
  • All-cap fundamental approach driven by on-the-ground, proprietary research

30/04/2010

Inception Date

-17.84%

YTD Return(USD)

(as of 11/08/2022)

$19.94

NAV(USD)

(as of 11/08/2022)

+0.35

1 Day NAV Change

(as of 11/08/2022)

  • Overview
  • Performance
  • Holdings
  • Ratings
  • Managers
  • Distributions

Factsheet Hong Kong Offering Document

Objective

Seeks to achieve long term capital appreciation.

Sustainability

The Sub-Fund promotes environmental and social characteristics according to Article 8 of SFDR. Furthermore, the Sub-Fund uses both activity- and norm-based exclusions. Information relating to the environmental and social characteristics of this Sub-Fund is available in the prospectus.

Strategy

The Fund seeks to achieve its investment objective by investing, directly or indirectly, at least 65% of its total net assets, in equities of companies located in Asia, and may invest the remainder of its net assets in other permitted assets on a worldwide basis. For the purpose of this policy, Asia includes China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

Fund Facts
Inception Date 30/04/2010
Fund Assets $339.44 million (31/07/2022)
Base Currency USD
ISIN: LU0491816475 (USD) LU0594555756 (GBP) LU0491816129 (EUR) LU1576347550 (JPY)
Bloomberg Symbol MATAPTI:LX (USD) MATAPGI:LX (GBP) MAPTFIE:LX (EUR) MPACTIJ:LX (JPY)
Benchmark MSCI All Country Asia ex Japan Index
Geographic Focus Asia Ex Japan: Consists of all countries and markets in Asia, excluding Japan but including all developed, emerging and frontier countries and markets in Asia
SFDR Classification Article 8
Fees & Expenses
Management Fee 0.75%
Total Expense Ratio As of 31/03/2022 0.90% ( USD ) 0.90% ( GBP ) 0.90% ( EUR ) 0.90% ( JPY )
Objective Seeks to achieve long term capital appreciation.
Strategy The Fund seeks to achieve its investment objective by investing, directly or indirectly, at least 65% of its total net assets, in equities of companies located in Asia, and may invest the remainder of its net assets in other permitted assets on a worldwide basis. For the purpose of this policy, Asia includes China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

Performance

  • Monthly
  • Quarterly
  • Annual Returns

As of 31/07/2022

Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date

Pacific Tiger Fund (USD)

0.56% -3.56% -18.50% -21.82% 2.66% 3.26% 6.19% 5.72% 30/04/2010

MSCI All Country Asia ex Japan Index (USD)

-1.13% -5.03% -17.09% -19.65% 2.61% 2.08% 5.40% 4.79%

Pacific Tiger Fund (GBP)

0.29% -0.32% -9.55% -10.18% 2.75% 4.86% 8.93% 8.18% 28/02/2011

MSCI All Country Asia ex Japan Index (GBP)

-1.32% -2.01% -7.72% -8.20% 2.82% 3.72% 8.10% 6.92%

Pacific Tiger Fund (JPY)

-1.47% -0.97% -5.51% -4.83% 10.00% 7.22% n.a. 8.54% 27/03/2017

MSCI All Country Asia ex Japan (JPY)

-2.73% -2.03% -3.77% -2.15% 9.97% 6.03% n.a. 8.29%

Pacific Tiger Fund (EUR)

2.46% -0.34% -9.56% -8.99% 5.69% n.a. n.a. 4.78% 30/04/2019

MSCI All Country Asia ex Japan Index (EUR)

1.38% -1.74% -7.53% -6.56% 5.66% n.a. n.a. 4.08%

As of 30/06/2022

Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date

Pacific Tiger Fund (USD)

-5.07% -9.44% -18.95% -26.36% 2.01% 3.64% 6.29% 5.72% 30/04/2010

MSCI All Country Asia ex Japan Index (USD)

-4.40% -8.90% -16.14% -24.78% 2.41% 3.39% 5.80% 4.92%

Pacific Tiger Fund (GBP)

-1.33% -1.85% -9.80% -15.68% 3.61% 5.08% 9.02% 8.22% 28/02/2011

MSCI All Country Asia ex Japan Index (GBP)

-0.79% -1.23% -6.48% -14.44% 4.02% 4.79% 8.54% 7.10%

Pacific Tiger Fund (JPY)

0.90% 1.47% -4.10% -9.21% 10.32% 7.79% n.a. 8.99% 27/03/2017

MSCI All Country Asia ex Japan (JPY)

0.96% 1.97% -1.07% -7.93% 10.64% 7.39% n.a. 9.00%

Pacific Tiger Fund (EUR)

-2.15% -3.32% -11.73% -15.79% 5.05% n.a. n.a. 4.11% 30/04/2019

MSCI All Country Asia ex Japan Index (EUR)

-2.04% -3.04% -8.78% -14.68% 5.37% n.a. n.a. 3.74%

For the years ended December 31st

Name 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

Pacific Tiger Fund (USD)

-3.08% 30.48% 11.18% -10.71% 39.47% -0.29% -1.91% 11.22% 4.86% 18.65%

MSCI All Country Asia ex Japan Index (USD)

-4.46% 25.36% 18.52% -14.12% 42.08% 5.76% -8.90% 5.11% 3.34% 22.70%

Pacific Tiger Fund (GBP)

-1.74% 25.96% 7.87% -5.71% 27.14% 19.96% 3.14% 18.00% 2.56% 13.54%

MSCI All Country Asia ex Japan Index (GBP)

-3.58% 21.49% 13.94% -8.78% 29.78% 26.15% -3.63% 11.65% 1.42% 17.31%

Pacific Tiger Fund (JPY)

8.30% 23.94% 9.79% -12.83% 27.68%* n.a. n.a. n.a. n.a. n.a.

MSCI All Country Asia ex Japan (JPY)

6.56% 19.10% 17.39% -16.36% 27.63%* n.a. n.a. n.a. n.a. n.a.

Pacific Tiger Fund (EUR)

5.06% 19.40% 2.60%* n.a. n.a. n.a. n.a. n.a. n.a. n.a.

MSCI All Country Asia ex Japan Index (EUR)

2.79% 15.01% 4.18%* n.a. n.a. n.a. n.a. n.a. n.a. n.a.

Portfolio Characteristics

(as of 31/07/2022)

Fund Benchmark
Number of Positions 61 1,199
Weighted Average Market Cap $97.6 billion $106.5 billion
Active Share 69.5 n.a.
P/E using FY1 estimates 19.2x 11.5x
P/E using FY2 estimates 16.5x 10.8x
Price/Cash Flow 13.9 7.0
Price/Book 3.1 1.6
Return On Equity 16.0 14.6
EPS Growth (3 Yr) 10.6% 11.8%

Risk Metrics (3 Yr Return)

(as of 30/06/2022)

Category 3YR Return Metric
Alpha -0.31%
Beta 1.07
Upside Capture 101.27%
Downside Capture 102.27%
Sharpe Ratio 0.08
Information Ratio -0.08
Tracking Error 4.98%
93.18

-0.31%

Alpha

1.07

Beta

101.27%

Upside Capture

102.27%

Downside Capture

0.08

Sharpe Ratio

-0.08

Information Ratio

4.98%

Tracking Error

93.18

Top 10 Holdings

(as of 31/07/2022)

Name Sector Country % Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology Taiwan 6.8
Samsung Electronics Co., Ltd. Information Technology South Korea 3.3
ICICI Bank, Ltd. Financials India 3.1
Tencent Holdings, Ltd. Communication Services China/Hong Kong 3.1
Meituan Consumer Discretionary China/Hong Kong 3.0
Central Pattana Public Co., Ltd. Real Estate Thailand 2.8
Alibaba Group Holding, Ltd. Consumer Discretionary China/Hong Kong 2.7
Hong Kong Exchanges & Clearing, Ltd. Financials China/Hong Kong 2.5
CITIC Securities Co., Ltd. Financials China/Hong Kong 2.5
AIA Group, Ltd. Financials China/Hong Kong 2.5
TOTAL 32.3

View All Holdings

Portfolio Breakdown (%)

(as of 31/07/2022)

  • Sector Allocation
  • Country Allocation
  • Asset Type Breakdown
  • Market Cap Exposure
Sector Fund Benchmark Difference
Information Technology 23.0 22.6 0.4
Consumer Discretionary 20.1 14.8 5.3
Financials 15.4 20.3 -4.9
Consumer Staples 8.3 5.4 2.9
Communication Services 7.2 10.0 -2.8
Real Estate 6.6 3.9 2.7
Industrials 5.7 6.8 -1.1
Materials 4.6 5.3 -0.7
Health Care 2.7 4.1 -1.4
Utilities 2.6 3.2 -0.6
Energy 0.0 3.7 -3.7
Cash and Other Assets, Less Liabilities 3.7 0.0 3.7
Country Fund Benchmark Difference
China/Hong Kong 41.8 43.8 -2.0
India 16.5 15.7 0.8
Taiwan 15.7 16.5 -0.8
South Korea 11.0 13.5 -2.5
Indonesia 3.1 2.1 1.0
Thailand 2.8 2.1 0.7
Philippines 2.4 0.8 1.6
Singapore 1.8 3.7 -1.9
Vietnam 1.1 0.0 1.1
Malaysia 0.0 1.7 -1.7
Cash and Other Assets, Less Liabilities 3.7 0.0 3.7
Asset Type Fund
Common Equities and ADRs 96.3
Cash and Other Assets, Less Liabilities 3.7
Equity market cap of issuer Fund Benchmark Difference
Mega Cap (over $25B) 47.8 58.8 -11.0
Large Cap ($10B-$25B) 19.4 20.9 -1.5
Mid Cap ($3B-$10B) 19.9 18.4 1.5
Small Cap (under $3B) 9.2 1.8 7.4
Cash and Other Assets, Less Liabilities 3.7 0.0 3.7

Ratings

Pacific Tiger Fund | UCITS (1)

Ratings based on risk-adjusted return

(as of 31/07/2022)

CATEGORY: Asia ex-Japan Equity

  • OVERALL
  • 3 YEAR
  • 5 YEAR
  • 10 YEAR
OVERALL 4 stars
3 YEAR 3 stars
5 YEAR 4 stars
10 YEAR 4 stars

Portfolio Managers

Pacific Tiger Fund | UCITS (2)

Sharat Shroff, CFA

Lead Manager

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Sharat Shroff, CFA

Portfolio Manager

Pacific Tiger Fund | UCITS (3)

Sharat Shroff is a Portfolio Manager at Matthews Asia and manages the firm’s Pacific Tiger Strategy and co-manages the India Strategy. Prior to joining Matthews Asia in 2005, Sharat worked in the San Francisco and Hong Kong offices of Morgan Stanley as an Equity Research Associate. Sharat received a Bachelor of Technology from the Institute of Technology in Varanasi, India and an MBA from the Indian Institute of Management, in Calcutta, India. He is fluent in Hindi and Bengali.

Pacific Tiger Fund | UCITS (4)

Inbok Song

Lead Manager

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Inbok Song

Portfolio Manager

Pacific Tiger Fund | UCITS (5)

Inbok Song is a Portfolio Manager at Matthews Asia and manages the firm’s Pacific Tiger Strategy. Prior to rejoining the firm in 2019, Inbok spent three years at Seafarer Capital Partners as a portfolio manager, the firm’s Director of Research and chief data scientist. Previously she was at Thornburg Investment Management as an associate portfolio manager. From 2007 to 2015, she was at Matthews Asia, most recently as a portfolio manager. From 2005 to 2006, Inbok served as an Analyst and Technology Specialist at T. Stone Corp., a private equity firm in Seoul, South Korea. From 2004 to 2005, she was a research engineer for Samsung SDI in Seoul. Inbok received both a B.A. and Masters in Materials Science and Engineering from Seoul National University. She received a Masters in International Management from the University of London, King’s College, and also an M.A. in Management Science and Engineering, with a concentration in finance from Stanford University. Inbok is fluent in Korean.

Pacific Tiger Fund | UCITS (6)

Winnie Chwang

Co-Manager

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Winnie Chwang

Portfolio Manager

Pacific Tiger Fund | UCITS (7)

Winnie Chwang is a Portfolio Manager at Matthews Asia and manages the firm’s China Small Strategy and co-manages the China and Pacific Tiger Strategies. She joined the firm in 2004 and has built her investment career at the firm. Winnie earned an MBA from the Haas School of Business and received her B.A. in Economics with a minor in Business Administration from the University of California, Berkeley. She is fluent in Mandarin and conversational in Cantonese.

Pacific Tiger Fund | UCITS (8)

Andrew Mattock, CFA

Co-Manager

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Andrew Mattock, CFA

Portfolio Manager

Pacific Tiger Fund | UCITS (9)

Andrew Mattock is a Portfolio Manager at Matthews Asia and manages the firm’s China and China Small Companies Strategies and co-manages the firm’s Pacific Tiger Strategy. Prior to joining the firm in 2015, he was a Fund Manager atHenderson Global Investors for 15 years, first in London and then in Singapore, managing Asia Pacific equities.Andrew holds a Bachelor of Business majoring in Accounting from ACU. Hebegan his career at PricewaterhouseCoopers and qualified as a Chartered Accountant.

This information contained herein does not constitute or contain an offer, solicitation or investment advice with respect to the purchase of the Fund described herein or any security. This information is not to be construed as a prospectus, a public offering or an offering memorandum as defined under applicable securities legislation. Prospective investors should consult professional legal, tax and financial advisers as to the suitability of any investment in light of your particular circumstances and applicable citizenship, residence or domicile. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before making an investment decision. The current prospectus, Supplement for Hong Kong Investors, Product Key Facts Statements ("Hong Kong Offering Document") and other offering documents contain this and other information. Fees and expenses vary among Funds and share classes. Portfolio characteristics for the Fund may vary from time to time from what is shown.

Index Definitions

The Markit iBoxx Asian Local Bond Index tracks the total return performance of a bond portfolio consisting of local-currency denominated, high quality and liquid bonds in Asia ex-Japan. The Markit iBoxx Asian Local Bond Index includes bonds from the following countries: China (on- and offshore markets), Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.

The J.P. Morgan Asia Credit Index (JACI) tracks the total return performance of the Asia fixed-rate dollar bond market. JACI is a market cap-weighted index comprising sovereign, quasi-sovereign and corporate bonds and is partitioned by country, sector and credit rating. JACI includes bonds from the following countries: China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea and Thailand.

The MSCI All Country Asia ex Japan Index is a free float–adjusted market capitalization–weighted index of the stock markets of China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.

The MSCI All Country Asia Pacific Index is a free float–adjusted market capitalization–weighted index of the stock markets of Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.

The MSCI China Index is a free float-adjusted market capitalization-weighted index of Chinese equities that includes H shares listed on the Hong Kong exchange, B shares listed on the Shanghai and Shenzhen exchanges, Hong Kong-listed securities known as Red chips (issued by entities owned by national or local governments in China) and P Chips (issued by companies controlled by individuals in China and deriving substantial revenues in China) and foreign listings (e.g. ADRs).

The MSCI China All Shares Index captures large and mid-cap representation across China A shares, B shares, H shares, Red chips (issued by entities owned by national or local governments in China), P chips (issued by companies controlled by individuals in China and deriving substantial revenues in China), and foreign listings (e.g. ADRs). The index aims to reflect the opportunity set of China share classes listed in Hong Kong,Shanghai, Shenzhen and outside of China.

The S&P Bombay Stock Exchange 100 (S&P BSE 100) Index is a free float–adjusted market capitalization–weighted index of 100 stocks listed on the Bombay Stock Exchange.

The MSCI Japan Index is a free float–adjusted market capitalization–weighted index of Japanese equities listed in Japan.

The MSCI All Country Asia ex Japan Small Cap Index is a free float–adjusted market capitalization–weighted small cap index of the stock markets of China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.

The MSCI China Small Cap Index is a free float-adjusted market capitalization-weighted small cap index of the Chinese equity securities markets, including H shares listed on the Hong Kong exchange, B shares listed on the Shanghai and Shenzhen exchanges,Hong Kong-listed securities known as Red Chips (issued by entities owned by national or local governments in China) and P Chips (issued by companies controlled by individuals in China and deriving substantial revenues in China), and foreign listings (e.g., ADRs).

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