Vontobel mtx Asian Leaders (ex Japan)

Investment rationale

This is an actively managed Asia ex Japan equity fund designed to generate long-term capital growth through listed companies that are described as leaders in their industries. With a Summary Risk Indicator of 5 out of 7 and a recommended holding period of 6 years, it is positioned for investors with a long-term horizon who can bear losses up to the amount invested. It is intended for investors with knowledge and/or experience of these types of products, and the I share class is reserved for institutional investors. Its distinct role comes from concentrated exposure to Asian equities outside Japan, including limited access to China A-shares, combined with Article 8 SFDR environmental and social characteristics and a minimum allocation to sustainable investments.

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How the strategy works

The fund aims to generate long-term capital growth and is an actively managed Luxembourg UCITS classified under Article 8 SFDR. It mainly invests across Asia excluding Japan in equities and equity-like securities, including transferable securities qualified as closed-ended real estate investment trusts, participation certificates and depositary receipts of companies that are based and/or conduct most of their business in the region; it may invest up to 35% via Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect in China A-shares, up to 10% in UCITS/UCIs, up to 33% outside the main investment universe, and up to 20% in bank deposits at sight. The sub-fund must invest at least 15% of net assets in sustainable investments, and it may use derivatives for hedging, efficient portfolio management and achieving the investment objective. The benchmark is the MSCI AC Asia ex Japan Index 10/40 TRN USD, which is used for performance comparison, while the investment team retains full discretion within predefined limits; income is reinvested and the recommended holding period is 6 years.

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Investment philosophy

• The investment universe is Asia excluding Japan, focused mainly on equities and equity-like securities of companies described as leaders in their industry, including participation certificates, depositary receipts and certain closed-ended real estate investment trusts.

• Portfolio construction is based on high-conviction, long-term decisions supported by in-depth research and systematic screening to identify companies with high potential for long-term profitability.

• The managers adjust positions flexibly as markets change, with the aim of capturing opportunities while controlling risk, and they have full discretion within the fund’s predefined investment limits.

• Sustainability criteria are incorporated in assessing potential investments; the fund promotes environmental and/or social characteristics and commits to sustainable investments, with at least 15% of net assets in sustainable investments.

• Positioning as of 31 August 2026 was concentrated in technology-heavy Asian markets, with major holdings including Taiwan Semiconductor Manufacturing Company, SK Hynix, Tencent, Samsung Electronics, Samsung Electronics-Pref and Alibaba; sector exposure is led by Information Technology, and the largest country weights are China, South Korea and Taiwan.

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Management team

The portfolio managers are Thomas Schaffner and Raphael Lüscher.

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Distinctive features

The fund combines a clear regional specialisation in Asia excluding Japan with a focus on industry leaders and an actively managed, research-driven stock selection process. It has explicit flexibility to access China A-shares through Stock Connect, use derivatives, hold a limited allocation outside the core universe, and manage liquidity with cash and deposits when needed. The strategy also embeds sustainability features through Article 8 SFDR classification and a minimum allocation to sustainable investments, while applying norm-based and activity-based exclusions covering coal, other fossil fuels, tobacco and weapons-related areas. Operationally, it is a daily dealing Luxembourg UCITS, is swing-pricing eligible, and follows a reinvesting distribution policy.

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Risks

The fund is classified at 5 out of 7 on the Summary Risk Indicator, indicating a medium-high risk class, and the indicator assumes a 6-year holding period. Key risks include performance, market, operational, liquidity, equity, real estate investment trust, financial derivative instruments, emerging markets, China, currency, ESG strategy and sustainability risks. These risks are linked to the fund’s structure and exposures, including its focus on Asian equities outside Japan, ability to invest in China A-shares, use of derivatives, exposure to multiple local currencies, and sustainable investment approach. The product offers no capital protection or guaranteed return, and investors could lose some or all of their investment.

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Asset manager

The product manufacturer and management company is Vontobel Asset Management S.A., which is authorised in Luxembourg and supervised by the CSSF. Vontobel Asset Management S.A. is part of Vontobel Group. The fund is domiciled in Luxembourg and structured as a UCITS umbrella fund, with this strategy offered as a sub-fund of Vontobel Fund.

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