Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU2725941129

Goldman Sachs India Equity Portfolio Fund(LU2725941129)

Equities
India
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Portfolio will mostly hold shares or similar instruments relating to Indian companies. Such companies are either based in or earn most of their profits or revenues from India. The Portfolio may also invest in companies which are based anywhere in...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Provides holistic exposure to the Indian equity market through a well-diversified portfolio of 70 to 100 holdings across all sectors and market capitalizations. Maintains a structural tilt toward small and mid-capitalization (SMID) companies to capture alpha opportunities within less efficient segments of the market. Includes allocations to both public and private sector enterprises to ensure comprehensive coverage of the Indian economic landscape.

People

Managed by a dedicated India Equity research team based in Mumbai, providing essential on-the-ground local expertise. Led by lead portfolio manager Aman Batra, who oversees a team of experienced research analysts with an average of 18 years of investment experience.

Performance

Targets consistent long-term outperformance relative to the MSCI India IMI Index through a disciplined stock selection process. Exhibits a structural growth tilt, which typically leads to outperformance during periods of market expansion and potential lagging during rotations into value-oriented sectors. Focuses on delivering long-term capital appreciation across multiple market cycles.

Process

Employs a fundamental, bottom-up investment philosophy centered on the dual pillars of business quality and valuation. Conducts rigorous research into industry characteristics and management quality to identify companies capable of generating sustainably high returns on incremental capital. Utilizes a disciplined cash flow-based analysis to determine the intrinsic value of each security and guide portfolio construction.

Cost

Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access

How it fits in a portfolio

It serves as a specialized satellite holding for investors seeking high-growth exposure to the Indian economy within a globally diversified portfolio. It is suitable for investors who are comfortable with the higher volatility and geographical concentration risk associated with single-country emerging market allocations. The strategy acts as a complement to broad emerging market funds by providing deeper, research-driven access to the Indian SMID-cap universe.

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

-6.43%

YTD

-17.00%

1 month

-12.67%

6 month

-15.33%

1 year

-13.51%

As of Mar 2026

Distributions

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

Risk metrics

Max drawdown

-25.48%As of Mar 2026

Volatility

16.54%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	-5.9%	1.1%	-12.7%	-	-	-	-	-	-	-	-	-
2025	-5.5%	-7.1%	-8.5%	6.7%	3.0%	4.2%	2.9%	-4.4%	-3.0%	-0.3%	4.1%	-0.7%	-1.3%
2024	-	3.3%	1.4%	-0.7%	3.1%	0.4%	8.0%	4.2%	1.0%	2.6%	-5.2%	0.8%	-0.6%
2023	-	-	-	-	-	-	-	-	-	-	-	-	0.0%

Top Exposures

Holdings

Regions

Sectors

ICICI Bank Ltd	5.45%
Infosys Ltd	3.94%
HDFC Bank Ltd	3.70%
Reliance Industries Ltd	2.99%
Mahindra & Mahindra Ltd	2.72%
Axis Bank Ltd	2.56%
Bajaj Finance Ltd	2.32%
Bharti Airtel Ltd	2.30%
Kotak Mahindra Bank Ltd	2.16%
State Bank of India	1.99%
Tata Steel Ltd	1.86%
Eternal Ltd Common Stock Inr1.0	1.74%
Sun Pharmaceuticals Industries Ltd	1.69%
TVS Motor Co Ltd	1.66%
Grasim Industries Ltd	1.52%

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

1.92%0.87% p.a.

Save 54%

Fund facts

ISIN

LU2725941129

Fund house

GSAM

Fund size

HK$33B

As of 15 Apr 2026

Fund inception date

20 Dec 2023

Fund class currency

HKD

Fund share class

Other Currency Shares (Acc.) (HKD)

Oldest share inception date

26 Mar 2008

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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