April 30, 2026
A blended-style equity fund seeking long-term growth by investing in Asian companies.
Is this fund right for you?
- You want your money to grow over a longer term.
- You want to invest in companies located in Asia or the Pacific Basin whose shares are mainly traded on Asian stock exchanges.
- You're comfortable with a high level of risk.
RISK RATING
How is the fund invested? (as of April 30, 2026)
| Name | Percent |
|---|---|
| International Equity | 98.5 |
| Cash and Equivalents | 1.2 |
| Income Trust Units | 0.2 |
| Other | 0.1 |
| Name | Percent |
|---|---|
| China | 22.7 |
| Taiwan | 20.6 |
| Korea, Republic Of | 17.1 |
| India | 13.1 |
| Australia | 12.0 |
| Asia | 4.5 |
| Hong Kong | 3.9 |
| Singapore | 3.3 |
| Canada | 1.1 |
| Other | 1.7 |
| Name | Percent |
|---|---|
| Technology | 30.8 |
| Financial Services | 19.4 |
| Exchange Traded Fund | 14.2 |
| Industrial Goods | 6.7 |
| Basic Materials | 5.6 |
| Industrial Services | 3.9 |
| Consumer Goods | 3.8 |
| Real Estate | 3.7 |
| Consumer Services | 3.5 |
| Other | 8.4 |
Growth of $10,000 (since inception)
For the period 07/09/2018 through 04/30/2026 tr.with $10,000 CAD investment, The value of the investment would be $16,487
Fund details (as of April 30, 2026)
| Top holdings | Percent (%) |
|---|---|
| Taiwan Semiconductor Manufactrg Co Ltd | 8.9 |
| Samsung Electronics Co Ltd | 6.7 |
| SK Hynix Inc | 4.5 |
| Xtrackers MSCI India Swap UCITS ETF 1C (XCX5) | 4.4 |
| Lyxor MSCI India UCITS ETF - Acc (EUR) (INR) | 4.4 |
| Lyxor MSCI AC Asia Pacific Ex Japn UCITS ETF (AEJ) | 4.3 |
| Delta Electronics Inc | 3.2 |
| Tencent Holdings Ltd | 2.5 |
| Alibaba Group Holding Ltd | 2.3 |
| BHP Group Ltd | 2.0 |
| Total allocation in top holdings | 43.2 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 15.15% |
| Dividend yield | 2.36% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $431,009.4 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| 13.28 | 15.20 | 17.43 | 48.06 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 18.78 | 6.20 | - | 6.61 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 23.22 | 15.99 | 0.86 | -12.19 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| -6.16 | 18.00 | 13.09 | - |
Range of returns over five years (August 01, 2018 - April 30, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 6.20% | Apr 2026 | 0.12% | Aug 2023 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 3.15% | 100 | 34 | 0 |
Q1 2026 Fund Commentary
Commentary and opinions are provided by Keyridge Asset Management Limited.
Market commentary
Asia Pacific equity markets entered the first quarter of 2026 strongly, with solid gains in January and February before a sharp pullback in March. The quarter began with a rally led by information technology, particularly semiconductors, in markets such as South Korea and Taiwan, supported by favourable currency moves. As the quarter progressed, this momentum faded as broader global challenges, including energy price volatility and geopolitical uncertainty, weighed on risk appetite across the region.
Dispersion across markets remained a defining feature of the quarter. South Korea continued to attract investor flows and proved relatively resilient, while sentiment toward China and India was more fragile amid growth concerns and policy uncertainty. Structural themes, especially artificial intelligence (AI) and broader technology exposure, continued to support earnings expectations despite near-term volatility, with companies such as Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), Samsung Electronics Co. Ltd. and SK Hynix Inc. representing a significant share of the region's index weight.
Geopolitics also shaped market sentiment during the quarter. U.S.-China relations were broadly stable, with continued strategic competition increasingly seen as the new normal. The unexpected escalation in the Middle East contributed to energy price volatility and a rise in global risk aversion, adding to uncertainty across the region. Asia Pacific, viewed as more vulnerable to the conflict because of its reliance on oil imports, experienced additional pressure.
Performance
The financials, information technology and consumer discretionary sectors contributed to performance during the quarter.
Delta Electronics Inc. and HDFC Bank Ltd. contributed to performance.
The communication services, industrials and utilities sectors detracted from performance during the quarter.
TSMC and Samsung Electronics Co. Ltd. detracted from performance.
Portfolio activity
The sub-advisor didn't make any trades during the quarter.
Outlook
The sub-advisor's outlook for the Asia Pacific market remains cautiously positive. While near-term volatility may persist because of the uncertain global interest-rate path and ongoing geopolitical tensions, including U.S.-China relations and instability in the Middle East, the region continues to benefit from solid structural growth in technology and semiconductors, improving domestic demand and relatively attractive valuations compared with other developed markets.
The sub-advisor believes policy support in China could provide incremental upside if more decisive measures are implemented, while continued global diversification flows into Asia may offer additional support. South Korea may maintain its earnings momentum, supported by corporate governance reforms and sustained semiconductor investment. The sub-advisor continues to monitor potential risks including geopolitical developments and currency fluctuations, which could affect market performance across the region.
Summary
For the period 07/09/2018 through 04/30/2026 with $10,000 CAD investment
Total returns performance
64.87%
Last price
$16.49 CAD
as of market close 04/30/2026
Value of $10,000 investment
$16,486.74 CAD
