MI Polen Capital Asia Income Fund

All performance is calculated in GBP. For Financial Professional Use Only. The figures shown relate to past performance. Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up, and investors may not get back the original amount invested. The Fund was previously managed by Somerset Capital Management; Polen Capital UK LLP were appointed as sub-advisers for the Fund with effect from 1st February 2024. The Portfolio Managers also joined Polen Capital UK LLP, on 1st February 2024. The Portfolio Managers have been managing the Fund since inception. There is a risk of an investor losing all or part of their investment in the Fund. Current performance may be lower or higher. Periods over one-year are annualised. Performance figures shown are net of fees for the GBP Class I Income unit class, which carry an annual investment management fee of 0.75%, with an annual Ongoing Charge based on the financial year ending 31 December of 1.00%. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units. Additional benchmark information is available at the end of the page.

For Financial Professional Use Only. The difference at any one time between the sale and repurchase price of units in the Fund means that the investment should be viewed as medium to long term. Entry fees charged will lower returns. The ongoing charges figures shown here are based on expenses for the year ending 31st December 2023. This figure may vary from year-to-year and the Fund's annual report for each financial year will include details on the exact charges made. It excludes all portfolio transaction charges and performance fees. Please consult the Prospectus for a comprehensive explanation of all fees. As noted in the Fund Prospectus, the trust is dual priced and the value of the property of the Fund shall be determined in accordance with the Financial Conduct Authority Rules.

Polen Capital UK Limited Liability Partnership is registered in England with company number OC428634 and has its registered office at 1st Floor Offices, 15 – 18 Austin Friars, EC2N 2HE, United Kingdom. Polen Capital UK LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority (the “FCA”) in the conduct of its investment business, under reference number 925147. You can check this information on the FCA Register by visiting www.fca.org.uk/register.  The FCA can also be contacted at 12 Endeavour Square, London, E20 1JN.

Polen Capital UK LLP is registered with the UK Information Commissioner’s Office as Data Controllers and endeavour to follow all the guidelines and rules set out in the General Data Protection Regulation (GDPR).

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.

All performance data on this page are in GBP currency. Changes in exchange rates may have an adverse effect on the value, price, or income of the product. Whilst the Company aims to ensure the accuracy of the data contained in the page, it is provided for information purposes only. It should not be relied on as the basis for making an investment decision.

Past performance is no indication of current or future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units.

The MSCI AC Asia ex Japan Index is a benchmark representing Asia regional (excluding Japan) equity market performance. The index is maintained by Morgan Stanley Capital International. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved by an individual investor. In addition, an investor’s holdings may be materially different from those within the index. Indices are unmanaged and one cannot invest directly in an index. The performance of an index does not reflect any transaction costs, management fees, or taxes.

Definitions:

Alpha: is the excess return of an investment relative to the return of the benchmark.        
Beta: the measure of systemic risk of a portfolio in comparison to the market as a whole.     
Downside Capture: is a statistical measure of overall performance relative to a benchmark during declining markets.        
Information Ratio: a measurement of portfolio returns relative to a given benchmark.        
Sharpe Ratio: a ratio of the return on an investment relative to its risk.        
Standard Deviation: measurement of the dispersion or volatility of investment returns relative to its mean or average.        
Upside Capture: is a statistical measure of overall performance relative to a benchmark during rising markets.  

Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index.          
GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group.       
P/E Forward: denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio.        
Polen Long Term EPS Growth Estimate: a Polen Capital estimate of projected long-term earnings growth rates (Earnings Growth is not a measure of future performance).        
Net Debt/Equity ex Lease: is a measure of a company's financial leverage calculated by dividing its net liabilities by stockholders' equity, excluding leases.   
Return on Invested Capital: assesses a company’s efficiency at allocating the capital and is measured by operating profit after taxes divided by investment capital.     
Risk-Adjusted Return: a calculation of the profit or potential profit from an investment that considers the degree of risk that must be accepted in order to achieve it.   
Weighted Average Market Cap: a weighted average of the price of each security multiplied by the number of shares outstanding all the securities in the portfolio. 

Risk factors you should consider before investing: The value of investments and any income will fluctuate and investors may not get back the full amount invested. Where the Fund’s Investment Manager has expressed views and opinions in this fact sheet, these may change. Changes in exchange rates may have an adverse effect on the value, price, or income of the product. Whilst the Company aims to ensure the accuracy of the data contained in the factsheet, it is provided for information purposes only. It should not be relied on as the basis for making an investment decision. Investors should consider the investment objectives, risks and expenses of any investment carefully before investing as described in the Company’s Prospectus.

The Fund invests in foreign markets which involve risks such as social and political instability, market illiquidity, currency fluctuations and limited regulation. Additionally, investing in emerging market countries may be less liquid and more volatile than securities markets in more developed markets or in companies that are less well-established and substantially smaller. These companies may often experience significant price volatility and potential lack of liquidity due to low trading volume of their securities. Substantial risks are involved in trading in OTC markets and there is no guarantee that the Fund will be able to realize the fair value of such securities due to their tendency to have limited liquidity and comparatively high price volatility. Investments in financial derivative instruments including futures, forward contracts and options may be highly volatile and have limited liquidity which could result in major losses to the Fund. Certain derivative instruments in which the Fund may invest are foreign exchange rate sensitive and could amplify risks.

The Fund is considered to be actively managed in reference to the MSCI AC Asia Pacific ex Japan Index (the “Benchmark”) by virtue of the fact that it uses the Benchmark for performance comparison purposes. Certain of the Fund’s securities may be components of and may have similar weightings to the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Fund or as a performance target and the Fund may be wholly invested in securities which are not constituents of the Benchmark.

None of the shares may be offered or sold in the U.S. or to any U.S. person (as such term is defined in Rule 902(k) under the Securities Act).

UK Investors: Investors should read the prospectus, key investor information document, the memorandum and articles of association as well as the annual and semi-annual reports of the Company before investing, copies of which are available free of charge from the fund’s UK Facilities Agent, Polen Capital UK LLP, 1st Floor, 15-18 Austin Friars, London EC2N 2HE, United Kingdom, Tel: 442080570457, email: [email protected].

This webpage is a marketing communication. Please see the Prospectus for additional information on the investment policy, objectives, and strategy of the Fund.

The management company of MI Polen Capital Asia Income Fund is Apex Fundrock Ltd, Hamilton Centre, Rodney Way, Chelmsford, Essex CM1 3BY, United Kingdom. Apex Fundrock Ltd is authorised and regulated by the Financial Conduct Authority. Please note that the management company may de-notify arrangements made for marketing as regards units of the Fund in a Member State of the EU in respect of which it has made a notification.

Apex Fundrock Ltd  has not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended (1933 Act). No units may be offered or sold, directly or indirectly in the United States or to any U.S. person unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act is available. A “U.S. person” is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business. In the United States, this material may be distributed only to a person who is a “distributor,” or who is not a “U.S. person,” as defined by Regulation S under the U.S. Securities Act of 1933 (as amended).

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