Promotions/Fund Highlight

---

KF-ACHINA-A and KF-ACHINARMF provide investors with access to China's A-share market, home to many leading companies poised to benefit from China's transition toward a new economy and expected to play a vital role in the country's long-term growth through a new master fund, Goldman Sachs China A-Share Equity Portfolio, which has delivered a strong long-term performance track record through its disciplined investment strategy focused on identifying market leaders with sustainable competitive advantages across high-growth industries. The portfolio combines both growth and defensive stocks while dynamically adjusting allocations in response to changing market conditions. (Remark: The change of master fund is effective on 8 Jul 2026.)

Don't miss the opportunity to invest while China's equity market continues to benefit from supportive government policies, rapid technological innovation, and industrial upgrading, driving the country's transformation toward an innovation- and consumption-led economy.

Key features of the master fund
1. Investment team: A boutique research team based on the ground in China, with an average of 17 years of investment experience and deep local expertise to identify opportunities across the Chinese equity market. (Source: Goldman Sachs Asset Management, Feb 2026.)

2. Investment Philosophy

• Critical focus on sustainability of returns, with the conviction that outsized returns are earned over time by investing in sound businesses trading at substantial discount to intrinsic.
• Differentiated portfolio exposure leaning toward higher-quality, better-growth companies, including those with compelling earnings growth. Historically, the strategy has maintained an overweight allocation to "New China" sectors. (Source: Goldman Sachs Asset Management, FactSet, MSCI as of 31 Mar 2026.)

3.    Investment process: Rigorous idea generation framework resulting in a differentiated and sustainable Portfolio


4. Portfolio construction: Maintain a balanced portfolio by combining pro- and countercyclical stocks, believing that this allows performance to be driven by stock selection, even in volatile macro environments. (Source: Goldman Sachs Asset Management)


5.   Attribution by sector: The portfolio maintains differentiated sector exposures relative to the benchmark through bottom-up stock selection, with an emphasis on industries benefiting from long-term structural growth trends, aiming to generate returns above the benchmark over time.


6. Fund Performance: Consistently generating sustainable alpha across market cycles, driven by deep stock selection

• The portfolio has outperformed the benchmark by 2.38% (Trailing 10-year period excess return).
• In line with philosophy, about 90% of the outperformance has come from stock selection

In addition, the master fund has delivered consistent market outperformance with robust downside protection.


Three Key Growth Drivers for China A-Shares

1. AI: Powering China's New Economy
China's A-share market may benefit from the rapid advancement of AI technologies, one of the country's key economic growth engines. Continued investments by leading domestic technology companies, together with the expansion of AI infrastructure, are creating growth opportunities throughout AI supply chain, supported by both domestic and global demands.

2.  Growth: Corporate Profits Enter a Recovery Cycle
Corporate earnings within the A-share market are showing continued signs of recovery following last year's slowdown. Analysts expect listed companies to deliver double-digit earnings growth alongside improving profit margins, reflecting stronger economic activity and improving business confidence.

3. Liquidity: Ample Liquidity Supports Equity Inflows
China's government bond yields remain relatively low, encouraging investors to seek higher-return opportunities in the equity market. Meanwhile, Chinese households continue to hold substantial cash savings, providing potential for further capital inflows into the stock market over time.
Source: Krungsri Asset Management as of Jun 2026.

3 Fund Choices

• Krungsri China A-Shares Equity Fund-A (KF-ACHINA-A)
• Krungsri China A-Shares Equity RMF (KF-ACHINARMF)
• Krungsri China A-Shares Equity SSF (KF-ACHINASSF) (Available only for switches within the SSF fund group.)

For more information or to obtain the fund prospectus, please contact Krungsri Asset Management Co., Ltd. at +66 (0)2-657-5757, press 2, or Bank of Ayudhya PCL or Selling Agents

Disclaimers:

• SSF is a fund to promote long-term savings. RMF is a fund to promote long-term retirement savings. Investors should understand fund features, investment conditions, risks, condition of returns, and tax benefits before making an investment decision. Past performance is not indicative of future results.
• This document is prepared from sources believed to be reliable as of the date indicated. However, the Company does not guarantee the accuracy, reliability, or completeness of the information and reserves the right to amend any information without prior notice.
• The fund may hedge foreign exchange risk at the discretion of the fund manager. Therefore, investors remain exposed to foreign exchange risk, which may result in gains or losses from exchange rate movements, and investors may receive less than their initial investment.
• Units of KF-ACHINARMF & KF-ACHINASSF cannot be sold, transferred, pledged, or used as collateral.
• Purchases made by credit card are not eligible for credit card promotional campaigns.
• Investors should carefully review the tax benefits described in the investment guide. Failure to comply with RMF investment conditions may result in the loss of tax privileges, and investors may be required to repay tax benefits previously received, together with any applicable surcharges and penalties under the Revenue Code.

KF-ACHINA-A Fund Details, click

KF-ACHINARMF Fund Details, click

KF-ACHINASSF Fund Details, click

2026 RMF/Thai ESG Promotion, click

Back