Asian Property Fund

Share Class :
 
ISIN: LU0239678633
Asian Property Fund
ISIN: LU0239678633
Share Class :

Asian Property Fund

SHARE CLASS :
ISIN: LU0239678633
 
 
 
Investment Objective
Long term growth of your investment.
Investment Approach
We seek attractive long-term, risk-adjusted returns by investing in publicly traded real estate securities in Asia and Oceania. We combine a value-oriented, bottom-up-driven investment strategy and a top-down allocation that seeks diversified exposure to all major asset classes with an overweighting to property markets that we believe offer the best relative valuation.
 
 
Pricing & Performance

Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV. The sources for all performance and Index data is Morgan Stanley Investment Management. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

The Blended Index performance shown is calculated using the GPR Far East Net Return Index from inception through 31 January 2009 and the FTSE EPRA/NAREIT Asian Real Estate Net Total Return Index thereafter.

As of 31-Aug-2021

As of 24-Sep-2021

As of 31-Aug-2021

As of 24-Sep-2021


Performance of 100 USD invested
Performance of 100 USD invested

     
Past performance is not a reliable indicator of future results.
 
 
Average Annual Total Returns As of 31-Aug-2021 As of 30-Jun-2021
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class IX Gross (without deduction of max sales charge) (%) 11.53 2.53 3.45 4.44 3.75
Share Class IX Net (with the deduction of max sales charge) (%) 8.18 1.49 2.83 4.12 3.54
Blended Benchmark (%) 17.79 4.27 3.96 5.34 4.19
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class IX Gross (without deduction of max sales charge) (%) 24.85 3.92 5.37 4.28 4.12
Share Class IX Net (with the deduction of max sales charge) (%) 21.10 2.87 4.73 3.96 3.92
Blended Benchmark (%) 25.43 4.34 4.91 4.93 4.31
2020 2019 2018 2017 2016 2015 2014
Share Class IX Gross (without deduction of max sales charge) (%) -7.68 13.95 -1.62 15.45 3.39 -6.73 -1.61
Blended Benchmark (%) -9.46 16.59 -1.92 15.56 5.61 -7.60 0.08
2017 2018 2019 2020 2021
Share Class IX Gross (without deduction of max sales charge) (%) 6.00 3.73 7.79 -10.35 11.53
Share Class IX Net (with the deduction of max sales charge) (%) 2.82 0.62 4.54 -13.04 8.18
Blended Benchmark (%) 4.15 2.85 12.20 -14.23 17.79
 
Average Annual Total Returns
As of 31-Aug-2021
TIMEFRAME Share Class IX Gross (without deduction of max sales charge) (%) Share Class IX Net (with the deduction of max sales charge) (%) Blended Benchmark (%)
1 Yr 11.53 8.18 17.79
3 Yr 2.53 1.49 4.27
5 Yr 3.45 2.83 3.96
10 Yr 4.44 4.12 5.34
Since Inception 3.75 3.54 4.19
As of 30-Jun-2021
TIMEFRAME Share Class IX Gross (without deduction of max sales charge) (%) Share Class IX Net (with the deduction of max sales charge) (%) Blended Benchmark (%)
1 Yr 24.85 21.10 25.43
3 Yr 3.92 2.87 4.34
5 Yr 5.37 4.73 4.91
10 Yr 4.28 3.96 4.93
Since Inception 4.12 3.92 4.31
TIMEFRAME Share Class IX Gross (without deduction of max sales charge) (%) Blended Benchmark (%)
2020 -7.68 -9.46
2019 13.95 16.59
2018 -1.62 -1.92
2017 15.45 15.56
2016 3.39 5.61
2015 -6.73 -7.60
2014 -1.61 0.08
TIMEFRAME Share Class IX Gross (without deduction of max sales charge) (%) Share Class IX Net (with the deduction of max sales charge) (%) Blended Benchmark (%)
Past performance is not a reliable indicator of future results.
Share Class IX Gross (without deduction of max sales charge) assumes reinvestment of all distributions and deduction of fund level costs, but does not reflect the deduction of any sales charge applicable at investor level.
Share Class IX Net (with the deduction of max sales charge) assumes reinvestment of all distributions and deduction of fund level costs, and includes the deduction of the maximum sales charge applicable at investor level that may be taken out of your money before it is invested.
Please see the Fund's current prospectus and the share class' Key Investor Information Document for complete details on fees and sales charges.
Example: An investor wishes to purchase shares of USD 100. At the maximum sales charge of 5.75% the investor has to expend USD 106.10. The sales charge is only incurred upon subscription.
 
 
Risk/Return Statistics

TIMEFRAME:
    Share Class IX Index
Excess Return (%) -1.74 --
Alpha (%) -1.50 --
Beta 0.92 1.00
Information ratio -0.45 --
R squared 0.96 1.00
Tracking error (%) 3.88 --
Volatility (Standard deviation) (%) 17.55 18.62
Past performance is not a reliable indicator of future results.

Risk/Return statistics shown are calculated versus the Blended Benchmark when an Index is used in the calculation.

 
 
 
Risk and Reward Profile As of 18-Feb-2021
 
 
Lower Risk
High Risk
Potentially
Lower Rewards
Potentially
Higher Rewards
 
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in property company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There are additional risks associated with investing in real estate.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in China A-Shares via Shanghai-Hong Kong Stock Connect program may also entail additional risks, such as risks linked to the ownership of shares.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in property company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There are additional risks associated with investing in real estate.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in China A-Shares via Shanghai-Hong Kong Stock Connect program may also entail additional risks, such as risks linked to the ownership of shares.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
 
 
 
 
Composition 4 As of 31-Aug-2021
  Fund
Diversified 52.45
Industrial 17.88
Office 7.54
Data Centers 6.18
Retail 4.54
Residential 3.53
Industrial/Office Mixed 3.49
Self Storage 2.21
Lodging/Resorts 1.74
Cash 0.84
 
May not sum to 100% due to the exclusion of other assets and liabilities.


Geography4 As of 31-Aug-2021
  Fund
Japan 43.97
Hong Kong 20.64
Australia 19.35
China 8.74
Singapore 6.79
Malta 0.07
Cash 0.84
 
May not sum to 100% due to the exclusion of other assets and liabilities.


Holdings As of 31-Aug-2021
Fund
Mitsui Fudosan Co. Ltd 7.33
Esr Cayman Ltd 5.72
Charter Hall Group 4.64
Stockland 4.39
Glp J-REIT 4.24
Goodman Group 4.12
Wharf Real Estate Investment Co. Ltd 4.02
Mirvac Group 3.98
Sumitomo Realty & Development Co. Ltd 3.85
Nippon Prologis REIT Inc 3.80
Total 46.09

These securities and percentage allocations are only for illustrative purposes and do not constitute, and should not be construed as, investment advice or recommendations with respect to the securities or investments mentioned.



Portfolio Characteristics
Fund
Active share (%) 58.41
Dividend Yield (%) 2.87
Number of holdings 36
 
 
Portfolio Managers
Laurel Durkay
Head of Global Listed Real Assets
20 years industry experience
Angeline Ho
Managing Director
29 years industry experience
Des Foong
Managing Director
17 years industry experience

Effective December 7, 2020, Laurel Durkay was added as portfolio manager on the Fund. Effective December 31, 2020, Ted Bigman is no longer serving as portfolio manager on the Fund.

 
 
 
 

** Calendar Year Return (%) is available by selecting the fund name in the pricing table.

Please visit our Glossary page for fund related terms and definitions.

Performance data quoted is based on average annualized returns and net of fees.

The source for all performance and index data is Morgan Stanley Investment Management Limited.

Past performance is not indicative of future results. The value of the investments and the income from them can go down as well as up and an investor may not get back the amount invested. Returns may increase or decrease as a result of currency fluctuations. Performance data for funds with less than one year's track record is not shown. Performance is calculated net of fees. YTD performance data is not annualised. Performance of other share classes, when offered, may differ. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and key investor information document (KIID) contains this and other information about the fund. Please read the prospectus and KIID carefully before you invest.

1 The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account sales loads.

The Europe/Asia and South Africa category (EAA) includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system.

© 2021 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2 The GPR Far East Net Return Index is a sub-index of the GPR General Index and is composed of listed real estate securities in the Asian real estate markets.

FTSE EPRA/NAREIT Asian Real Estate Net Total Return Index is a free float-adjusted market capitalization weighted index composed of listed real estate securities in the Asia Pacific real estate market, designed to represent general trends in eligible real estate equities in the Asia Pacific region.  The Index is unmanaged and does not include any expenses, fees or sales charges. It is not possible to invest directly in an Index.

Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

4 May not sum to 100% due to rounding. For additional information regarding sector classification/definitions please visit www.msci.com/gics and the glossary page. Cash & Equivalents are defined as the value of assets that can be converted into cash immediately. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments.  Such instruments are considered cash equivalents because they are deemed liquid and not subject to significant risk of changes in values.

€uro am Sonntag ESG-Fonds Anbieter-Test: Morgan Stanley Investment Management hat 95,1 Punkte erzielt und wird von der €uro am Sonntag und dem Deutschen Kundeninstitut (DKI) als "sehr guter" nachhaltiger Fondsanbieter eingestuft. Die Analyse erfolgte auf der Grundlage der am 11. September 2020 geltenden Bedingungen. Ab 85 Punkten: sehr gut, ab 72,3 P.: gut, ab 61,4 P.: befriedigend, ab 44,4 P.: mangelhaft, unter 44,4 P.: ungenügend. Quelle: Deutsches Kundeninstitut (DKI).

WAM is the weighted average maturity of the portfolio. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. By looking to a portfolio's interest rate reset schedule in lieu of final maturity dates, the WAM measure effectively captures a fund's exposure to interest rate movements and the potential price impact resulting from interest rate movements.

 

WAL is the weighted average life of the portfolio. The WAL calculation utilizes a security's stated final maturity date or, when relevant, the date of the next demand feature when the fund may receive payment of principal and interest (such as a put feature). Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

 

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