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Overview

Performance

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KESG seeks to track the MSCI China ESG Leaders 10/40 Index, designed to provide exposure to companies with high Environmental, Social and Governance (ESG) ratings relative to their sector peers. The Index consists of large and mid-cap companies in China. In order to ensure diversification, the Index limits individual constituent weights to 10% and sector weights to 40% of its composition.

China’s ESG Highlights:

  • Chinese domestic investors and issuers are moving fast to incorporate ESG considerations in their decision making, driven by strong regulatory initiatives to promote ESG practices and disclosures.
  • China’s commitment to stricter environmental mandates and conservation efforts is necessary to achieve national goals of sustained economic growth. Consequently, China now is the world leader in total renewable energy capacity, at approximately 31% of total global capacity1.
  • China’s economic and technological transformation drives demand for a more educated workforce. In recent years, many Chinese companies in knowledge-intensive sectors have improved their talent programs, which has in turn upgraded their MSCI ESG Rating.
  • Greater inclusion of China’s capital markets internationally creates more of an incentive to align shareholder rights and governance policies with global standards, paving the way for Chinese companies to develop a more diversified shareholder structure.

KESG Features:

  • MSCI China ESG Leaders 10/40 Index inclusion criteria has a track record of effectively identifying growth companies within China’s new economy.
  • As companies with high ESG scores have proven to consistently outperform their peers in China, investors do not necessarily have to compromise returns for investing based on beliefs.
  • Benchmarked to an MSCI ESG Index: MSCI is the #1 index provider for ESG, Socially Responsible Investment (SRI), and Corporate governance indexes according to a 2018 survey of 1,300 participants conducted by SRI Connect and Extel.

1. REN21’s Renewables 2019 Global Status Report (GSR)

Premium Discount Chart

Daily Performance

Data as of 02/03/2023
Daily Net Asset Value (NAV) and Market Price
NAV $21.40
NAV Daily Change -1.83%
Market Price $21.09
Market Price Daily Change -2.45%
30 Day Median Bid/Ask Spread
0.46%
Distributions

Performance History

Cumulative %
Data as of: 01/31/2023
Fund NAV Closing Price Index
1 Month 11.29% 12.62% 11.44%
3 Month 51.75% 52.06% 52.08%
6 Month 3.44% 4.08% 3.78%
Since Inception -10.08% -9.96% -8.42%
Avg Annualized %
Data as of month end: 01/31/2023
Fund NAV Closing Price Index
1 Year -14.47% -16.67% -13.86%
Since Inception -4.14% -4.09% -3.44%
Avg Annualized %
Data as of quarter end: 12/31/2022
Fund NAV Closing Price Index
1 Year -26.26% -27.01% -25.77%
Since Inception -8.41% -8.81% -7.76%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Growth of $10,000

Data as of 02/03/2023

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only.

Top 10 Holdings

Data as of 02/06/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 TENCENT HOLDINGS LTD 8.95% 700 KYG875721634 9,700 465,828
2 MEITUAN-CLASS B 8.50% 3690 KYG596691041 21,170 442,765
3 ALIBABA GROUP HOLDING LTD 8.42% 9988 KYG017191142 33,336 438,467
4 CHINA CONSTRUCTION BANK-H 8.04% 939 CNE1000002H1 662,000 418,488
5 BAIDU INC-CLASS A 5.05% 9888 KYG070341048 14,650 263,083
6 NETEASE INC 4.70% 9999 KYG6427A1022 13,800 244,652
7 WUXI BIOLOGICS CAYMAN INC 3.89% 2269 KYG970081173 25,000 202,329
8 BYD CO LTD-H 3.61% 1211 CNE100000296 6,000 187,965
9 YUM CHINA HOLDINGS INC 3.26% YUMC US98850P1093 2,905 169,826
10 CHINA MERCHANTS BANK-H 3.07% 3968 CNE1000002M1 27,000 159,671

Holdings are subject to change.