IE000AQHA357

Stewart Investors Global Emerging Markets All Cap Fund(IE000AQHA357)

Equities
Emerging markets
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The sustainable objective of the Fund is to invest in companies which both contribute to, and benefit from, sustainable development, achieving positive social and environmental outcomes.

Key information

Annual report

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Product Highlight Sheet

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Prospectus

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Information Memorandum

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Factsheet

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Our perspective

Why we think this fund is best-in-class

Product

Global emerging markets equity fund, established in 2009, showcasing attractive, stable returns with solid downside protection.The portfolio is differentiated from peers, with off-benchmark companies, chosen with high conviction for their quality and potential to deliver long-term returns with minimal downside risk.

People

Stewart Investors is a quality-focused, bottom-up manager skilled in identifying companies that are positioned to deliver long-term returns.The firm emphasises a philosophy of fostering long-term relationships with high-quality companies committed to acting in their stakeholders' best interest, thereby aiming to generate superior financial returns for investor capital.It boasts a long-standing track record, having launched their first strategy in 1988 and operates as an independent group within First Sentier Investors.

Performance

Since its inception in 2009, the Fund has demonstrated attractive historical performance.The Fund has outperformed the MSCI EM Index in a number of years; the outperformance was driven by the team’s stock selection skills and strong downside control.Even in years when the Fund didn't outperform the index, it typically still delivered favourable positive returns. The fund may lag the index and peers in market conditions where returns are driven more by investor sentiment than by sound fundamentals.

Process

Emphasises the belief that company managers inherently understand their businesses better than investors, and therefore the team dedicates much effort to ensure these company leaders possess the integrity, competence, and humility required for shareholder success.Maintains a portfolio of high-conviction companies, offering the flexibility to invest across global emerging markets (EMs), including frontier markets.For investors keen to learn about the Fund's ESG philosophy, a comprehensive investment thesis is available on the fund’s website for each of the fund holdings: https://www.stewartinvestors.com/sg/en/institutional/our-strategies/global-emerging-markets-strategies/global-emerging-markets-sustainability.html#pe

Cost

Access to the retail share class with 100% trailer fee rebated back to Endowus investors to achieve a lower cost of access.

How it fits in a portfolio

Investors seeking an emerging market (EM) equities allocation that offers high stability and downside protection, alongside a strong ESG integration process, may find this fund appealing.Due to the riskier nature of EM, investors should be mindful that the Fund can experience periods of heightened volatility compared to investing in developed markets, although the Fund has historically displayed lower volatility compared to peers within the EM space. Regardless, investors are encouraged to use this fund in tandem with a globally diversified portfolio.Updated as of 2024/05/31

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

1.71%

YTD

-8.87%

1 month

-13.78%

6 month

-7.54%

1 year

0.20%

3 year

1.25%

As of Mar 2026

Distributions

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

Risk metrics

Max drawdown

-14.00%As of Mar 2026

Volatility

13.32%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	6.0%	-0.3%	-13.8%	-	-	-	-	-	-	-	-	-
2025	4.6%	-0.3%	-4.3%	-0.3%	3.6%	1.3%	2.7%	-2.3%	-0.1%	3.0%	2.6%	-2.7%	1.6%
2024	-2.9%	-4.5%	3.1%	-1.4%	-0.0%	1.3%	2.2%	-0.4%	0.8%	4.4%	-3.9%	-1.9%	-2.3%
2023	-	-	0.0%	0.5%	-0.3%	1.6%	2.8%	0.4%	-2.8%	-2.3%	-4.5%	9.2%	5.8%

Top Exposures

Holdings

Regions

Sectors

Taiwan Semiconductor Manufacturing Co Ltd	9.60%
Samsung Electronics Co Ltd	8.33%
Tencent Holdings Ltd	4.73%
Totvs SA	4.25%
Raia Drogasil SA	4.25%
MercadoLibre Inc	4.21%
Regional SA de Cv Class A	4.12%
Qualitas Controladora SAB de CV	4.03%
HDFC Bank Ltd	3.93%
Trip.com Group Ltd	3.85%

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

1.75%1.00% p.a.

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Fund facts

ISIN

IE000AQHA357

Fund house

Stewart Investors

Fund size

US$134M

As of 15 Apr 2026

Fund inception date

24 Feb 2023

Fund class currency

USD

Fund share class

I USD Acc

Oldest share inception date

18 Feb 2019

Pricing frequency

Daily

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