Amendment to Fund Project of Krungsri Emerging Markets Equity Fund (KF-EM)

2 September 2021
Krungsri Asset Management Company Limited (“the Management Company”) would like to notify unitholders of the amendments to the mutual fund project of Krungsri Emerging Markets Equity Fund (KF-EM) which have been approved by the Office of the Securities and Exchange Commission.  The amendments are made to ensure consistency with the change of information of Vontobel Fund - Emerging Markets Equity which is a foreign fund in which KF-EM invests (“the Master Fund”). The amendments are summarized as follows:
 
Investment Objective and Policy of the Master Fund :
Old New
The Fund aims to achieve the highest possible capital growth in USD.
While respecting the principle of risk diversification, the Fund’s assets are invested mainly in shares, equity-like transferable securities, participation certificates etc. Issued by companies based in an emerging market and/or by companies which conduct the majority of their business in an emerging market.
Emerging markets under the terms of this Fund are deemed to be all countries considered by the World Bank, the International Finance Corporation, the United Nations or the government of the respective country to be developing or emerging economies. In particular, these countries include: Brazil, Chile, China, Columbia, India, Indonesia, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Taiwan, Thailand, Turkey, Hong Kong.
Up to 33 % of the Fund’s assets may be invested outside the aforementioned investment universe.
The reference currency is not necessarily identical to the investment currencies of the Fund. In addition to investments in the reference currency, the Fund may make investments in other currencies that are optimally suited to the performance of the Fund.
This Fund pursues an investment style aimed at the preservation of capital, and invests primarily in securities of companies with a market value at a relatively low level compared with their book value and earnings expectations, or which have above average, stable dividend yields.
Bearing in mind the applicable investment restrictions, this investment style may lead to more heavily concentrated positions in individual companies or sectors.
The Fund may invest in securities listed on stock exchanges which do not qualify as recognised exchanges or markets and other non-listed investments may not exceed 10 % of the net assets of the Fund.
The Fund may, for the purpose of hedging (incl.   currency hedging) and the efficient management of the  portfolio, make use of derivative financial instruments,   which will result in a corresponding leverage effect.
The Fund aims to achieve the highest possible capital growth in USD.
While respecting the principle of risk diversification, the Fund's assets are invested mainly in equities, equity-like transferable securities, participation certificates, etc. issued by companies which are based in an emerging market and/or conduct the majority of their business in an emerging market. 
Emerging markets in connection with this Fund are all countries considered as such by the World Bank, the International Finance Corporation or the United Nations or that are included in the MSCI Emerging Markets Index or the MSCI Frontier Markets (FM) Index. Irrespective of recognition by one of the abovementioned institutions, emerging markets also include: Brazil, Chile, China, Colombia, India, Indonesia, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Taiwan, Thailand, Turkey, Hong Kong, Argentina, Uruguay, Venezuela, Singapore, Sri Lanka, Hungary, Egypt, the Czech Republic, Romania, Israel.
The Fund may invest up to 35% of its assets via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect in China A-Shares.
Up to 33% of the Fund's assets may be invested outside the aforementioned investment universe.
The Fund may also hold cash.
This Fund pursues a "quality growth" investment style aimed at the preservation of capital, and invests primarily in securities of companies that have relatively high long term earnings growth and above average profitability. Bearing in mind the applicable investment restrictions, this investment style may lead to more heavily concentrated positions in individual companies or sectors.
The Fund may, for the purpose of hedging (incl. currency hedging) and efficient portfolio management, make use of derivative financial instruments.

The amendments to the statements relating to the investment objective and policy of the Master Fund as mentioned above do not have any impact and/or increase risk to the Fund.

The amendments to the mutual fund project mentioned above shall take effect from 1 September 2021 onwards.  

Should you require any further information, please contact your account manager or our Client Service at 02-657-5757 press 7 for English and 2 or via email at krungsriasset.clientservice@krungsri.com.

Please be informed accordingly.
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