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KF-ORTFLEX taps Asia equities, backed by growth and AI tailwinds
One of the key markets in a strategy to diversify beyond the US is Asia, a region at the heart of the global AI ecosystem. Companies in Taiwan, Japan, and South Korea are set to play a pivotal role in driving growth over the next decade.
KF-ORTFLEX : Krungsri Oriental Flexible Fund
Investing in the master fund, Allianz Oriental Income Fund
- Adopts an all-cap flexible strategy, investing across companies of all sizes in Asia Pacific, including Japan and Australia/New Zealand - unlike typical Asia funds that often exclude these markets.
- Focuses primarily on mid- to small-cap stocks, complemented by selective large caps, using active, benchmark-agnostic stock selection with a long-term investment approach.
- Employs a bottom-up selection strategy, targeting companies with strong cash flow generation, sustainable competitive advantages, and leadership positions across industries (e.g., Ping An Insurance(Financial), ASPEED Technology Inc(IT), Mitsubishi Heavy Industries(Industrials), PetroChina(Energy), Hoya Corp (Healthcare)).
- Maintains flexibility to rotate across regional themes, such as Japan’s corporate reform and domestic consumption growth in Emerging Asia.
Key tailwinds for Asia markets
- Sustained Economic Growth: The market expects Asia ex-Japan real GDP to expand by 4.5% this year, reflecting continued strength in the region’s economies and outpacing global growth, which is projected at just 2.6%.
- More accommodative monetary policy: Inflation across many Asia ex-Japan countries remains within or below central bank targets, supporting easing conditions.
- Earnings growth: EPS is projected to grow 23% this year, following 11% last year, with upward revisions of ~6% year-to-date.
- AI-driven demand: Heavy capex from hyperscalers is boosting demand across AI-related sectors, particularly semiconductors in North Asia (Korea, Taiwan).
- Valuation: The P/E ratio remains attractive, with Asian equities trading at a discount compared to global markets.
- Low Ownership & Weaker USD: Asia ex-Japan remains under-owned, with global investors maintaining below-benchmark allocations to the region. At the same time, a weaker U.S. dollar could support increased capital inflows into Asia ex-Japan in the period ahead.
- Japan Equity Market – Key Support Factors:
- Corporate Governance Reforms: Ongoing improvements, including share buybacks and higher dividend payouts, are enhancing shareholder value, with a continued upward trend.
- Earnings Growth as a Key Driver: EPS growth is expected to drive market returns this year, with the market projecting 11% growth, up from 7% last year.
- Supportive Fiscal and Monetary Policy: Fiscal measures are helping to support the economy, while the market expects the Bank of Japan to pursue a gradual pace of interest rate hikes.
For more information or the prospectus, please contact Krungsri Asset Management at +66 2 657 5757 (press 2), Bank of Ayudhya / Selling agents.
Investment policy & risk disclosure:
- This document is based on sources believed to be reliable as of the publication date; however, the Company cannot guarantee the accuracy or completeness of such information.
- KF-ORTFLEX invests, on average, at least 80% of NAV in the underlying fund, Allianz Oriental Income.
- Risk level: 6 (high risk). Currency hedging is at the fund manager’s discretion; therefore, the fund is exposed to foreign exchange risk, which may result in gains or losses and could lead to returns lower than the initial investment.
- Investors should study product features, conditions of returns, and risks before making an investment decision. Past performance of mutual funds is not indicative of future results.
