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Overview

Performance

Holdings

Listings

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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 03/Feb/2023
Daily Net Asset Value (NAV)
NAV $17.51
NAV Daily Change -0.51%

Performance History

Cumulative %
Data for USD share class as of: 31/Jan/2023
Fund NAV Index
1 Month 8.48% 8.78%
3 Month 8.21% 8.26%
6 Month -8.77% -7.05%
Since Inception -30.92% -29.37%
Avg Annualized %
Data for USD share class as of month end: 31/Jan/2023
Fund NAV Index
1 Year -23.18% -21.99%
Since Inception -19.68% -18.62%
Avg Annualized %
Data for USD share class as of quarter end: 31/Dec/2022
Fund NAV Index
1 Year -38.32% -36.83%
Since Inception -24.54% -23.62%

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.

Top 10 Holdings

Data as of 03/Feb/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 TRINA SOLAR CO LTD-A 8.22% 688599 CNE100003ZR0 22,438 219,477
2 BEIJING KINGSO-A 6.85% 688111 CNE100003PM2 3,845 183,062
3 ADVANCED MICRO-A 5.34% 688012 CNE100003MM9 8,945 142,661
4 MONTAGE TECHNO-A 5.12% 688008 CNE100003MN7 16,426 136,822
5 ZHEJIANG SUPCO-A 3.75% 688777 BMYLP63 7,218 100,138
6 WESTERN SUPERCON 3.64% 688122 CNE100003MF3 6,744 97,260
7 CHINA RESOURCE-A 3.42% 688396 CNE100003S06 10,941 91,360
8 SHENZHEN TRANS-A 3.34% 688036 CNE100003P74 6,677 89,158
9 GOODWE TECHNOL-A 3.12% 688390 CNE100004363 1,441 83,473
10 PYLON TECHNOLO-A 2.99% 688063 BN45744 1,810 79,772

Holdings are subject to change.

Listings

Data as of 03/Feb/2023
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

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.