Goldman Sachs Asset Management (GSAM) said that Hong Kong retail investors can now buy the Goldman Sachs All China Equity Portfolio Fund and the Goldman Sachs India Equity Portfolio Fund.
“These products offer diversification benefits to help investors navigate the changing market landscape,” said Gladys Chan, head of the retail client business at the asset manager.
The firm received regulatory approval by the Securities and Future Commission in early April 2022.
The $46m (£35m, €42m) Goldman Sachs All China Equity Portfolio Fund was incepted in 2012, and is managed by Shao Ping Guan.
It invests in Chinese equities, including those listed in Hong Kong, and has 69 holdings, with 20.6% of its AUM invested in consumer discretionary, 14.4% in financials, 14.3% in communication services, and 11.0% in industrials, according to the fund factsheet.
The top ten holdings make up of 42.7% of the total portfolio as of end of March, with most AUM invested in media conglomerate Tencent Holdings (8.1%), followed by e-commerce giant Alibaba Group (6.6%), and state-owned spirit producer Kweichow Moutai (5.1%).
The fund has posted a three-year cumulative return of -5.98% compared with -8.26% by its benchmark MSCI China All Share index, according to FE Fundinfo.
India equities
The $2.24bn Goldman Sachs India Equity Portfolio Fund was also incepted in 2012, and is managed by Hiren Dasani.
It invests in Indian equities and now has 99 holdings. They include 22% in the financials sector, 18.9% in the information technology sector, and 12.2% in the materials sector.
Among the top holdings, 9% is invested in information technology consulting firm Infosys, followed by 6.8% in ICICI Bank, and 4.4% in energy firm Reliance Industries.
In terms of market capitalisation, 47.2% of the AUM is invested in large cap companies, 19.7% in mid cap, and 29.6% in small cap firms.
The fund has posted a three-year cumulative return of 51.18% compared with 44.79% by its benchmark MSCI India IMI index, according to FE Fundinfo.
Investors can access both funds through local distributors, including Bank of China (Hong Kong), Bank of East Asia, China CITIC Bank International, Citi, DBS, Hang Seng Bank, Shanghai Commercial Bank, and Standard Chartered Bank.
GSAM now offers 16 funds to Hong Kong retail investors. As of the end of 2021, the asset manager oversaw $2.8trn in AUM worldwide.
For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com
