Be patient and don’t be greedy
The Fund will attempt to achieve over the long term a total return in excess of that of the MSCI Emerging Markets Index (with net dividends reinvested) through investment in a concentrated portfolio of equities of companies from emerging markets and from other markets where it can be demonstrated by the Investment Manager that the company concerned is overwhelmingly an emerging market related company.
| Launch date | 03 November 2008 |
|---|---|
| Domicile | Ireland |
| Structure | QIAIF |
| Base currency | USD |
| Dealing | Daily |
| Min. investment | €100,000 |
| Benchmark | MSCI Emerging Markets |
| Fund size | US$23.4m |
| Strategy size | US$90.1m |
| Share class | AMC* | TER** | Bloomberg | ISIN |
|---|---|---|---|---|
| A USD | 1.25% | 1.60% | OVEMKEA ID | IE00B3DDVH01 |
| I USD | 0.90% | 1.25% | OVEMKEI ID | IE00B4N0BT09 |
* AMC - Annual management charge
** TER - Total expense ratio
Please note that the shares in the Fund are not marketed to investors resident in certain member states of the European Economic Area (EEA). If you are not resident in the EEA or would like to receive further information regarding the states in which the shares in the Fund are marketed, please contact us.
Charles Sunnucks joined OP at the start of 2023, prior to which he was involved in cross-border M&A transactions at investment bank NovitasFTCL. He previously worked at Jupiter Asset Management where he co-managed the Jupiter Emerging & Frontier Income Trust, he speaks fluent Mandarin, and is a CFA/CAIA Charterholder. He manages the emerging markets portfolios and contributes to the overall investment selection.
Click here for the Q2 2025 commentary
| Annualised | ||||||
|---|---|---|---|---|---|---|
| 1 month | YTD | 1 year | 3 years | 5 years | Launch | |
| Fund (A shares) | +3.1 | +25.1 | +20.4 | +15.8 | +9.9 | +7.6 |
| MSCI Emerging Markets | +1.3 | +19.0 | +16.8 | +10.8 | +5.2 | +7.4 |
| Annual performance | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Fund (A shares) | +1.5 | +21.1 | -23.0 | +11.3 | -3.8 |
| MSCI Emerging Markets | +7.5 | +9.8 | -20.1 | -2.5 | +18.3 |
Performance is calculated net of all fees and expenses and on a total return basis, inclusive of all distributions to unit holders.
The value of all investments and the income from them can go down as well as up; this may be due, in part, to exchange rate fluctuations. Past performance is not a guide to future performance
| Materials | 18.0 | |
| Consumer Staples | 16.3 | |
| Consumer Discretionary | 15.0 | |
| Industrials | 14.0 | |
| Information Technology | 13.5 | |
| Communication Services | 11.5 | |
| Energy | 4.4 | |
| Health Care | 4.4 | |
| Cash | 3.0 |
| China/Hong Kong | 23.4 | |
| South Korea | 18.0 | |
| Brazil | 17.7 | |
| Mexico | 12.0 | |
| Indonesia | 8.6 | |
| Peru | 6.0 | |
| Thailand | 4.3 | |
| Taiwan | 4.2 | |
| India | 2.9 | |
| Cash | 3.0 |
| Samsung Electronics | 6.3 |
| Buenaventura | 6.0 |
| Alibaba | 5.6 |
| Embraer | 5.3 |
| Telkom Indonesia | 5.2 |
| SK Inc | 5.0 |
| Cemex | 5.0 |
| Yue Yuen Industrial | 4.8 |
| Trip.com | 4.6 |
| Petrobras | 4.4 |
| Fund | Benchmark | |
|---|---|---|
| P/E ratio (fwd) | 9.4 | 14.1 |
| P/B ratio (hist) | 1.2 | 2.0 |
| Gross div. yield (fwd) | 4.5 | 2.5 |
| Active share (%)* | 91.9 |
*Active share is calculated using the sum of the absolute value of the differences between the weight of each holding in the manager’s portfolio and the weight of each holding in the benchmark, divided by two.
All data as at 31 August 2025.
Source: Oldfield Partners.
The Overstone Emerging Markets Equity Fund is a constituent of the Oldfield Partners Emerging Markets Equity Composite.
Oldfield Partners LLP claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Oldfield Partners LLP has been independently verified for the periods 1 January 2000 to 31 December 2011 by HSBC Securities Services and from 1 January 2012 to 31 December 2023 by Ernst & Young LLP. To receive a copy of a GIPS® compliant presentation and/or a list and description of our composites, please contact us.
Be patient and don’t be greedy
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