Emerging Europe, Middle East & Africa Equity Fund
Share Class :
 
ISIN: LU0218443736
Emerging Europe, Middle East & Africa Equity Fund
ISIN: LU0218443736
Share Class :

Emerging Europe, Middle East & Africa Equity Fund

SHARE CLASS :
ISIN: LU0218443736
 
 
 
 
Investment Objective
Long term growth of your investment.
Investment Approach
Seeks long-term capital appreciation, measured in euro, by investing primarily in equity securities of issuers in Central, Eastern and Southern Europe (including Russia), the Middle East and Africa.
 
-1.57
Alpha (3 yr) (%)
7.15
Tracking error (3 yr) (%)
Jun '05
Share Class Launch Date
 
 
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, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. 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.

As of 31-Oct-2018

As of 20-Nov-2018

As of 31-Oct-2018

As of 20-Nov-2018


Performance of 100 EUR invested
Performance of 100 EUR invested

     
Past performance is not a reliable indicator of future results.
 
 
Total Returns As of 31-Oct-2018 As of 30-Sep-2018
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AX EUR (%) -14.48 -0.42 0.46 5.35 4.77
MSCI Emerging Europe, Middle East and Africa Index (%) -7.21 1.14 -1.12 5.24 4.15
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AX EUR (%) -14.48 -1.26 2.34 68.33 86.85
MSCI Emerging Europe, Middle East and Africa Index (%) -7.21 3.47 -5.46 66.73 72.60
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AX EUR (%) -6.97 3.72 2.62 2.98 5.29
MSCI Emerging Europe, Middle East and Africa Index (%) -0.48 4.86 0.70 3.08 4.53
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class AX EUR (%) -6.97 11.58 13.80 34.10 98.85
MSCI Emerging Europe, Middle East and Africa Index (%) -0.48 15.31 3.53 35.40 80.62
2011 2012 2013 2014 2015 2016 2017
Share Class AX EUR (%) -24.42 19.30 10.44 -7.61 5.74 10.71 15.03
MSCI Emerging Europe, Middle East and Africa Index (%) -17.71 19.99 -9.26 -3.41 -10.93 23.53 9.40
2014 2015 2016 2017 2018
Share Class AX EUR (%) -2.61 6.41 3.17 11.91 -14.48
MSCI Emerging Europe, Middle East and Africa Index (%) -0.84 -7.87 3.21 8.04 -7.21
 
Total Returns
As of 31-Oct-2018
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
1 Yr -14.48 -7.21
3 Yrs -0.42 1.14
5 Yrs 0.46 -1.12
10 Yrs 5.35 5.24
Since Inception 4.77 4.15
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
1 Yr -14.48 -7.21
3 Yrs -1.26 3.47
5 Yrs 2.34 -5.46
10 Yrs 68.33 66.73
Since Inception 86.85 72.60
As of 30-Sep-2018
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
1 Yr -6.97 -0.48
3 Yrs 3.72 4.86
5 Yrs 2.62 0.70
10 Yrs 2.98 3.08
Since Inception 5.29 4.53
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
1 Yr -6.97 -0.48
3 Yrs 11.58 15.31
5 Yrs 13.80 3.53
10 Yrs 34.10 35.40
Since Inception 98.85 80.62
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
2011 -24.42 -17.71
2012 19.30 19.99
2013 10.44 -9.26
2014 -7.61 -3.41
2015 5.74 -10.93
2016 10.71 23.53
2017 15.03 9.40
TIMEFRAME Share Class AX EUR (%) MSCI Emerging Europe, Middle East and Africa Index (%)
2014 -2.61 -0.84
2015 6.41 -7.87
2016 3.17 3.21
2017 11.91 8.04
2018 -14.48 -7.21
Past performance is not a reliable indicator of future results.
 
 
Risk/Return Statistics

TIMEFRAME:
    Share Class AX Index
Beta 0.75 1.00
Information ratio -0.22 --
R squared 0.76 1.00
Tracking error (%) 7.15 --
Volatility (Standard deviation) (%) 12.65 14.64
Past performance is not a reliable indicator of future results.
 
 
 
 
Composition 4 As of 31-Oct-2018
  Fund Index
Financials 42.42 33.78
Consumer Staples 13.48 5.33
Consumer Discretionary 10.65 3.45
Materials 7.04 9.80
Communication Services 6.49 17.21
Energy 6.41 19.62
Industrials 5.68 3.23
Information Technology 1.88 --
Health Care 1.51 1.59
Cash & equivalents 4.44 --


Geography4 As of 31-Oct-2018
  Fund Index
South Africa 35.54 41.03
Poland 21.62 8.31
Russia 21.39 27.25
Hungary 6.60 2.12
Turkey 3.07 4.50
Austria 2.95 --
Egypt 2.51 0.90
United States 1.88 --
Cash & equivalents 4.44 --
Total 100.00 --


Holdings As of 31-Oct-2018
Fund Index
Lukoil Holding 6.41 5.36
Sberbank of Russia 5.48 4.55
OTP Bank 5.09 1.17
Capitec Bankholding S Ltd 4.81 0.40
Naspers Ltd 4.43 11.25
Sanlam Ltd 3.63 1.31
Reunert Ltd 3.59 --
Clicks Group Ltd 3.59 0.47
Avi Ltd 3.36 --
Nedbank Group Ltd 3.16 0.99
Total 43.55 --

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 Index
Active share (%) 73.32 --
Price/cash flow 7.08 6.52
Price/book 1.86 1.22
Price/earnings 10.34 8.10
Dividend Yield (%) 3.56 4.43
Number of holdings 35 162
 
 
Portfolio Managers
Managing Director
22 years industry experience
Managing Director
24 years industry experience
Team members may be subject to change at any time without notice.
 
 
 
 

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 facts statement (KFS) contains this and other information about the fund. Please read the prospectus and KFS 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.

© 2018 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.

The MSCI Emerging Markets Europe, Middle East and Africa Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the emerging market countries of Europe, the Middle East & Africa.

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.

This communication was issued by Morgan Stanley Asia Limited for use in Hong Kong, and its contents have not been reviewed by the Securities & Futures Commission of Hong Kong.

Only A and C share classes of the Fund are authorized by the Securities & Futures Commission of Hong Kong to be offered to the public in Hong Kong. 

 
 

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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