Ashoka WhiteOak Emerging Markets Trust Plc - Monthly Update - May 2024
(the "Company")
Monthly Update -
The Company's monthly factsheet as at
The Company has delivered a NAV total return of 13.0% since inception to
Significant contributors for the month of
Notable detractors include Samsung Electronics (-6.9%, South Korean multinational major appliance and consumer electronics corporation), PT Bank Central Asia (-7.1%, largest private bank in
Market Review
In
For the month, Utilities and Information Technology outperformed, while Healthcare and Materials underperformed. Large caps underperformed mid and small caps this month. Among major EM markets,
Top 10 Holdings
__________________________________________________________ |Top 10 holdings (as at 31 May, 2024)|Country |% of NAV| |____________________________________|____________|________| |1. TSMC |Taiwan |6.5 | |____________________________________|____________|________| |2. Samsung Electronics |Korea |4.4 | |____________________________________|____________|________| |3. Awfis Space Solutions |India |2.7 | |____________________________________|____________|________| |4. Naspers |South Africa|2.3 | |____________________________________|____________|________| |5. Hong Kong Exchanges & Clearing |China/HK |2.1 | |____________________________________|____________|________| |6. Prosus NV |Netherlands |1.7 | |____________________________________|____________|________| |7. SK Hynix |South Korea |1.7 | |____________________________________|____________|________| |8. DBS Group Holdings |Singapore |1.6 | |____________________________________|____________|________| |9. Alibaba Group |China/HK |1.5 | |____________________________________|____________|________| |10. CIE Fin. Richemont |France |1.5 | |____________________________________|____________|________| |Total | |26.0% | |____________________________________|____________|________|
Key Contributors
30 Apr 2024 - 31 May 2024 Ending Total Contribution to Key Contributors Weight (%) Return (%) Return (bps) CIE Fin. Richemont SA 1.5 +12.6 +17 Awfis Space Solutions 2.7 +5.5 +14 Go Digit General Insurance 1.4 +9.7 +12Tencent Music Ent 0.8 +15.0 +11 Bharat Bijlee 0.5 +30.5 +11
Key Detractors
30 Apr 2024 - 31 May 2024 Ending Total Contribution to Key Detractors Weight (%) Return (%) Return (bps) Samsung Electronics Co., Ltd. 4.4 -6.9 -31 Rashi Peripherals 0.1 -14.8 -9 PT Bank Central Asia 1.2 -7.1 -9 Koh Young Technology 0.4 -17.4 -8 Sonata Software 0.0 -25.1 -8
Source: Factset. Past performance does not predict future returns. The performance calculation is based on GBP. Currency fluctuations will also affect the value of an investment.
1 Benchmark index - MSCI Emerging Markets Net Return Sterling (Bloomberg MGEF)
Past performance cannot be relied on as a guide to future performance.
About
4
Data as at 31
st
Further Information
For further information on the Company's investment strategy and portfolio construction approach as well as details of the portfolio market cap, regional and sector composition please refer to the latest factsheet.
Investment Objective
To achieve long-term capital appreciation, primarily investing in equity and equity-related securities that provide exposure to global emerging markets.
Summary of Investment Policy
The Company shall invest primarily in securities admitted to trading on any stock exchange (which may include stock exchanges in Developed Markets) that provide exposure to companies that are domiciled in Global Emerging Markets (EMs), or that are domiciled in Developed Markets but at the time of investment, derive a majority of their economic value, revenues or profits from, or whose assets or cost base are mainly located in EMs.
The Company's LEI is 254900Z4X5Y7NTODRI75
For further information:
Company Secretary
AWEMT.Cosec@jtcgroup.com +44 207 409 0181
Prashant Khemka ViaBuchanan Fadrique Balmaseda Ben Hayward
Mark Thompson +44 (0) 20 7016 6711Eddie Nissen +44 (0) 20 7016 6713Oliver Kenyon +44 (0) 20 7016 6704
Buchanan
Henry Harrison-Topham +44 (0) 20 7466 5000 Henry Wilson AWEM@buchanancomms.co.ukGeorge Beale
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