Important risk disclosure

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LU2464814073

Goldman Sachs Emerging Markets Equity Portfolio Fund(LU2464814073)

Equities
Emerging markets
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks long-term capital appreciation by investing primarily in the equity securities of Emerging Markets issuers.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Differentiated Emerging Market ("EM") equity product, featuring significant exposure to small and mid-cap names, and off-benchmark names. A diverse basket of typically 80-120 names, offering a broad exposure to some of the most attractive emerging market companies listed globally.

People

Managed by two Co-PMs, Basak Yavuz and Hiren Dasani, who have over 20 years of average experience investing in EM regions such as Latin America, EMEA, and India. Supported by a team of 24 investment professionals based across GSAM offices in New York, Sao Paulo, Singapore, Hong Kong, Singapore, Hong Kong, Mumbai, and Bengaluru.

Performance

Has demonstrated top-tier returns in the long term. Has the tendency to demonstrate volatility during times of market distress, especially due to its preference for smaller companies.

Process

Bottom-up analysis to identify sound companies trading at attractive prices in the local markets that also have the potential to generate strong returns over the long term. Combs through a large universe of 6000 stocks in the EM, rather than being confined to the MSCI EM Index, which only have 1350 names that are typically larger-cap, government-owned entities.

Cost

Retail share class with 100% trailer fees rebated back to Endowus investors to achieve the lowest cost of access.

How it fits in a portfolio

Investors looking for a broad exposure to EM equities across the market capitalisation spectrum can consider an allocation to this Fund. We like the Fund's highly experienced leadership team, and GSAM's well-resourced, on-the-ground analyst team that helps to generate alpha through a less benchmark-constrained approach. Investors should be aware that emerging market equities have traditionally experienced high levels of volatility and sharp drawdowns. Therefore, when considering an investment in the Fund, investors should be mindful of the risk and adopt a diversified approach.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

31.87%

YTD

2.17%

1 month

-11.06%

6 month

6.66%

1 year

33.64%

3 year

46.37%

As of Mar 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-23.77%As of Mar 2026

Volatility

18.01%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	10.0%	4.4%	-11.1%	-	-	-	-	-	-	-	-	-
2025	31.7%	-0.5%	1.9%	-0.7%	0.1%	7.4%	4.7%	1.4%	2.0%	7.5%	3.7%	-2.5%	3.2%
2024	7.8%	-3.2%	4.9%	2.6%	-0.2%	0.3%	3.1%	0.6%	1.5%	6.2%	-4.7%	-2.6%	-0.3%
2023	6.1%	10.1%	-6.2%	1.8%	-2.5%	-2.0%	4.4%	3.3%	-4.6%	-3.0%	-4.0%	6.8%	3.0%
2022	-	-	-	-	0.0%	-0.9%	-8.0%	0.7%	-0.7%	-11.6%	-5.4%	13.8%	-1.3%

Top Exposures

Holdings

Regions

Sectors

Taiwan Semiconductor Manufacturing Co Ltd	9.60%
Tencent Holdings Ltd	6.15%
Samsung Electronics Co Ltd	6.00%
SK Hynix Inc	4.35%
Alibaba Group Holding Ltd Ordinary Shares	4.32%
Nu Holdings Ltd Ordinary Shares Class A	2.14%
Ping An Insurance (Group) Co. of China Ltd Class H	1.91%
Delta Electronics Inc	1.65%
MediaTek Inc	1.61%
KB Financial Group Inc	1.48%
ICICI Bank Ltd	1.46%
China Merchants Bank Co Ltd Class H	1.43%
Piraeus Bank SA	1.20%
ASE Technology Holding Co Ltd	1.10%
Elite Material Co Ltd	1.01%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.85%0.80% p.a.

Save 56%

Fund facts

ISIN

LU2464814073

Fund house

GSAM

Fund size

HK$32.4B

As of 28 Apr 2026

Fund inception date

28 Apr 2022

Fund class currency

HKD

Oldest share inception date

15 Dec 1997

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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