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Asia Fund


As of 11/30/2018 As of 09/30/2018
1 month
at NAV 4.86 -18.54 4.19 -6.40 -2.25 10.15 6.60 9.50 5.19
at Max Load 4.86 -18.54 4.19 -6.40 -2.25 10.15 6.60 9.50 5.19
MSCI AC Asia ex Japan NR Index 5.31 -11.99 4.34 0.17 2.19 13.51 6.34 8.13 5.26

*SI = Since Inception
Inception Date: 9/24/2010

Past performance does not guarantee future results. The performance data quoted represent past performance and current returns may be lower or higher. Share prices and investment returns fluctuate and an investor's shares may be worth more or less than original cost upon redemption. For periods more than one year, performance is annualized. For performance data as of the most recent month-end please call (888) 335-3417.

The Fund performance may not be indicative of the Fund's long-term potential. The Fund's returns will fluctuate over long- and short-term periods. "NAV" is the Fund's Net Asset Value per share and has not been adjusted to reflect any applicable sales charge. Maximum sales charge (load) as a percentage of the offering price (applies to Class A shares only): 5.75%. Maximum deferred sales charge (load) for redemptions within one year of purchase (applies to Class C shares and may apply to certain redemptions of Class A shares): 1.00%.

Mirae Asset Global Investments has contractually agreed at least through August 31, 2019 to limit the fund's expense ratio as described in the prospectus, at which time this arrangement may be terminated, extended or modified.

The strategy behind the Fund

Emerging markets offer a dynamic environment and a growing set of investment opportunities. Asia Fund seeks to identify those companies which are already—or that we expect to become—leaders.

What makes this Fund unique?

  • Insight—Our origins and presence in the emerging markets give us a unique perspective into the characteristics that help drive success
  • Diligence—Our fundamental analysis includes face-to-face meetings with company management, often in their own language
  • Exposure—We maintain exposure to Asian currencies in order to capitalize on their return potential
  • Conviction—We build concentrated portfolios of our best ideas
  • Opportunity—To find current and future leaders, we look across a wide range of industries and countries

Want to know more?

As of 11/30/2018

Portfolio Composition

Holdings (Top Ten)
weightinG (%)
Tencent Holdings Ltd. 5.5 China
Samsung Electronics Co., Ltd. 4.7 South Korea
AIA Group Limited 4.5 Hong Kong
Taiwan Semiconductor Manufacturing Co., Ltd. 3.9 Taiwan
Alibaba Group Holding Ltd. Sponsored ADR 3.7 China
IHH Healthcare Bhd. 3.7 Malaysia
Ping An Insurance (Group) Company of China, Ltd. Class H 3.5 China
DBS Group Holdings Ltd 3.4 Singapore
HDFC Bank Limited 3.2 India
Dabur India Limited 3.1 India

Don't know some of these companies? That's okay, we do.

Download the latest Holdings Report

Country Allocation (Top Ten)
China 33.9 35.7 -1.8
India 23.0 10.6 12.4
South Korea 13.6 16.0 -2.4
Hong Kong 8.0 11.3 -3.3
Taiwan 5.9 13.0 -7.1
United States 3.7 0.0 3.7
Malaysia 3.7 2.7 0.9
Singapore 3.4 4.0 -0.7
Indonesia 2.7 2.6 0.1
Thailand 1.0 2.8 -1.7
(Includes Cash)
1.2 1.3 -0.1

We are in and of these markets.

Currency Allocation (Top Ten)
Hong Kong (Dollar) 33.3 37.0 -3.7
India (Rupee) 23.0 10.6 12.4
South Korea (Won) 13.6 16.0 -2.4
U.S. (Dollar) 9.6 9.2 0.3
Taiwan (Dollar) 5.9 13.0 -7.1
Malaysia (Ringgit) 3.7 2.7 0.9
Singapore (Dollar) 3.4 4.0 -0.7
China (Renminbi) 2.8 0.8 2.0
Indonesia (Rupiah) 2.7 2.6 0.1
Thailand (Baht) 1.0 2.8 -1.7
(Includes Cash)
1.2 1.3 -0.1

We don't hedge emerging currencies.

Sector Allocation
Financials 27.7 24.0 3.6
Information Technology 15.0 16.9 -1.9
Health Care 14.1 3.0 11.1
Consumer Discretionary 13.9 12.2 1.7
Communication Services 7.2 12.9 -5.7
Consumer Staples 6.8 4.9 1.9
Utilities 5.0 3.3 1.7
Energy 4.9 4.9 0.0
Materials 2.9 4.7 -1.8
Industrials 1.3 7.0 -5.7
Real Estate 0.0 6.1 -6.1
Cash 1.2 0.0 1.2

We don't mirror the benchmark.

Market Cap Exposure
Market Cap Market Cap Exposure (%)
More than $5 billion 64.7
$1 billion to $5 billion 26.5
Less than $1 billion 7.6
Cash 1.2

Opportunities are not one size fits all.

Important Information

©2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.  The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The portfolio holdings and allocations will change and the information provided should not be considered as a recommendation to purchase or sell a particular security. There is no assurance that the securities mentioned remain in the Fund's portfolio or that securities sold have not been repurchased. Totals may not add up to 100% due to rounding.

The MSCI AC Asia ex-Japan NR Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of Asia, excluding Japan.

An investor cannot invest directly in an index.

For shares of those Funds that have been in existence for less than one year, cumulative performance is utilized.

Risk Factors

Equity Securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.

Emerging Market investing may be subject to additional economic, political, liquidity, and currency risks not associated with more developed countries.

Geographic Concentration Risk — A small number of companies and industries may represent a large portion of the market in a particular country or region, and these companies and industries can be sensitive to adverse social, political, economic or regulatory developments in that country or region.

As of 11/30/2018


  • TickerMILAX
  • CUSIP 60462F606
  • Inception Date09/24/2010
  • Number of Holdings47
  • Fund Assets (mm)$38.5 M
  • Net Expense Ratio*1.15%
  • Gross Expense Ratio*1.97%
  • Asset ClassEquity
As of 11/30/2018

Morningstar Rating1

Category: Pacific/Asia ex-Japan

Overall3 stars out of 73 funds.
3 year2 stars out of 73 funds.
5 year3 stars out of 60 funds.