Overview

Performance

Growth of USD 10,000

Holdings

Listings

Fund Documents

Overview

Investment Strategy:

KSTR seeks to track the performance of the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index is comprised of the 50 largest companies listed on the SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.

STAR Market Highlights:

  • Facilitates the fast-tracking of private science and technology companies to an initial public offering (IPO).
  • Since its establishment in July 2019, the STAR Market has become one of the largest IPO markets globally1 and a premier listing venue for prominent Chinese unicorns (privately held startup companies valued at over $1 billion).
  • Recent increases in fund-raising activity on Chinese exchanges can largely be attributed to the STAR Market, which accounted for 47% of capital raised across China’s Mainland A-Share market in 20202.
  • Potential inclusion in the SSE Composite Index and Shanghai-Hong Kong Stock Connect could result in greater flows for STAR Market securities.

KSTR Features:

  • Exposure to companies poised to be China’s future leaders across industries that could represent the growth engine of China for decades to come.
  • Innovation-driven science and technology companies in China that offer a potential source of uncorrelated, long-term growth.
  • Includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.

1. YiCai Global, “China’s Year-Old Star Market Outshines the Venerable Nasdaq”, 2020/Jul/23.
2. The Asset, “A bumper IPO year despite Covid-19”, 2020/Dec/14.

Daily Performance

Data for USD share class as of 16/May/2024
Daily Net Asset Value (NAV)
NAV $11.34
NAV Daily Change -0.53%

Performance History

Cumulative %
Data for USD share class as of: 30/Apr/2024
Fund NAV Index
1 Month 1.13% 0.33%
3 Month 12.24% 11.11%
6 Month -10.32% -11.21%
YTD -10.59% -11.83%
Since Inception -53.40% -49.82%
Avg Annualized %
Data for USD share class as of month end: 30/Apr/2024
Fund NAV Index
1 Year -33.05% -32.23%
Since Inception -22.91% -20.94%
Avg Annualized %
Data for USD share class as of quarter end: 31/Mar/2024
Fund NAV Index
1 Year -35.46% -32.51%
Since Inception -23.79% -21.57%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Growth of USD 10,000

Data as of 16/May/2024

The Growth of USD 10,000 chart reflects an initial investment of USD 10,000 in the Fund's USD share class on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of USD 10,000 chart since inception, the initial investment of USD 10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a USD 10,000 investment in the fund is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 17/May/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 HYGON INFORMAT-A 7.73% 688041 BMZNGH6 17,561 179,430
2 BEIJING KINGSO-A 7.31% 688111 CNE100003PM2 4,366 169,742
3 ADVANCED MICRO-A 6.45% 688012 CNE100003MM9 8,281 149,716
4 SHANGHAI UNITE-A 6.07% 688271 BN47MR8 7,872 140,786
5 MONTAGE TECHNO-A 5.07% 688008 CNE100003MN7 17,192 117,614
6 SHENZHEN TRANS-A 5.04% 688036 CNE100003P74 6,163 116,905
7 CAMBRICON TECHNOLOGIES-A 4.52% 688256 CNE1000041R8 3,979 105,026
8 BEIJING ROBORO-A 3.85% 688169 CNE100003R80 1,507 89,339
9 SUPCON TECHNOLOGY CO-A 2.90% 688777 CNE100005D92 10,510 67,336
10 NATIONAL SILIC-A 2.47% 688126 CNE1000040F5 31,255 57,238

Holdings are subject to change.

Listings

Data as of 16/May/2024
Exchange Ticker Currency Listing Date SEDOL ISIN
London Stock Exchange KSTR LN USD 26/May/2021 BMBNL20 IE00BKPJY434
Borsa Italiana KSTR IM EUR 21/Jul/2021 IE00BKPJY541
London Stock Exchange KSTP LN GBP 17/May/2023 BRSDHB9 IE00BKPJY434
Deutsche Börse Xetra KSRE EUR 10/Oct/2023 IE00BKPJY434

Each share class is offered in the base currency noted above. To the extent the fund holds exposure to any positions in a currency different to the base currency, that position is unhedged.