Neuberger Berman InnovAsia Fund
The Neuberger Berman InnovAsia Fund* is a thematic equity fund focusing on innovative Asian disruptive thematic opportunities and 5G innovations. It is focused on Asian “Small Giants,” thus investing in companies with innovative technologies or applications that are still in the early stages of commercialisation.
Neuberger Berman is constructive on Asia’s growth opportunity, especially within advanced semiconductors, structural growth in artificial intelligence, robust data centre capex, and digital content lifestyle proliferation. “Asia is a vibrant region with increasingly digital economies and is leading in early-stage innovative applications,” Portfolio Manager Yan Taw (YT) Boon said in the June commentary.
*formerly Neuberger Berman InnovAsia 5G Fund
Key Information
Investment Category | Sector Equity Technology |
ISIN | IE00049QBO88 |
Benchmark Index | MSCI AC Asia Index (Net) |
Inception Date | 14 July 2021 |
Assets Under Management (AUM)* | $22.0 mn |
Initial Sales Charge (max.) | 5.00% |
Ongoing Charge | 1.90% |
Management Fee | 1.70% |
*as of 31 May 2024
Strategy
The Neuberger Berman InnovAsia Fund is actively managed and not constrained by its benchmark, the MSCI AC Asia Index. The Asia-based team combines on-the-ground insights with deep bottom-up research on Asian innovative ecosystems and strategic partnerships.
Performance
2022 (Fund / Benchmark) | -39.91% / -18.61% |
2023 (Fund / Benchmark) | 30.84% / 11.07% |
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Portfolio
The fund holds 51 securities with a weighted average market capitalisation of $49,065 mn.
Taiwan and Japan make for over 50% of the portfolio, with 28.72% and 26.66%, respectively. Korea (16.65%), India (7.67%) and China (6.52%) complete the top 5 countries.
In terms of sectors, the portfolio is dominated by and heavily overweighted in information technology (67.45%; benchmark: 22.11%) and is only invested in five sectors. The other sector allocations are in industrials (14.68%; 13.58%), consumer discretionary (6.23%; 15.60%); communication services (6.13%; 8.51%) and materials (1.79%; 4.44%). 3.71% are in cash.
The 5 largest holdings are:
- Taiwan Semiconductor Manufacturing Co., Ltd. (4.50%, Taiwan)
- SK hynix Inc. (3.89%, South Korea)
- Nitto Boseki Co., Ltd. (3.62%, Japan)
- Towa Corporation (3.35%, Japan)
- Bharti Airtel Limited (3.20%, India)
32.98% of assets are invested the top 10.
Portfolio as of 31 May 2024