EP
Emerging Markets Fund
EPEIX (I Share)
EPASX (A Share)
Purpose
The EP Emerging Markets Fund is designed for investors seeking long-term capital appreciation through exposure to companies economically tied to emerging market countries. The Fund provides access to a broad and diverse set of opportunities across emerging economies, offering investors participation in regions with distinct growth drivers and long-term development potential.
The Fund is differentiated from traditional emerging markets strategies by its emphasis on fundamental quality and valuation discipline. Rather than simply tracking benchmark weightings, the Fund applies a selective approach to identify companies with strong business models, durable competitive positions, and sound financial characteristics that may be mispriced or overlooked by the broader market.
Our investment process combines a top-down assessment of countries and regions with a bottom-up focus on individual companies. By investing selectively and maintaining a long-term perspective, the Fund seeks to manage risk thoughtfully while reducing unnecessary portfolio turnover. This disciplined approach is intended to support consistent decision-making across market cycles and provide diversified emerging market exposure within a long-term investment framework.
Process
Our process begins with a thorough and complete review of all investible companies within our universe. This review is both qualitative and quantitative, with the goal of identifying exceptional companies with strong balance sheets, that are positioned in industries with positive long-term prospects. The highest quality businesses are then valued and placed on a watch list. We will then patiently wait until a business on the watch list hits our target buy price, which incorporates a large margin of safety. By focusing on the long term and having a low portfolio turnover, we believe we are able to increase the chances of successful security selection.
Funds
Rating
Holdings
| Samsung Electronics Co Ltd | 9.0% |
| TSMC | 4.8% |
| British American Tobacco PLC | 3.8% |
| Telkom Indonesia Persero Tbk P | 2.6% |
| Astra International Tbk PT | 2.6% |
| Vale SA | 2.5% |
| B3 SA - Brasil Bolsa Balcao | 2.3% |
| WEG SA | 2.2% |
| Kimberly-Clark de Mexico SAB de CV | 2.2% |
| ASPEED Technology Inc | 2.1% |
Regions
| South Korea | 17.1% |
| China | 16.2% |
| Brazil | 10.4% |
| Taiwan | 10.0% |
| Indonesia | 9.0% |
| Mexico | 7.0% |
| Saudi Arabia | 4.0% |
| Britain | 3.8% |
| Singapore | 3.6% |
| India | 3.3% |
Sectors
| Consumer Staples | 24.9% |
| Technology | 19.7% |
| Communications | 13.2% |
| Consumer Discretionary | 12.2% |
| Financial | 9.8% |
| Basic Materials | 8.5% |
| Industrial | 6.7% |
| Others | 5.1% |
