Values Assessment

The report reflects our assessment of value delivered to investors in our UK fund range over the assessment period 1 August 2023 to 31 July 2024. A detailed analysis for each fund and share class is listed firstly by our affiliate investment team (First Sentier Investors, FSSA Investment Managers and Stewart Investors), then in alphabetical order. It is important to note that each fund assessed typically has several share classes, each offering different investment characteristics. As our analysis has been conducted at a share class level, this report will be more useful to you if you are aware of which share class/es you are invested in.

Our philosophy and culture is built on the principle of acting as responsible stewards of our investors’ assets. This guides how we operate the overall business and how the teams invest. We place investor interests at the core of our business, and have a clear focus on earning and maintaining confidence in our investment capabilities and operations. We strive for the highest degree of transparency and accountability and place strong emphasis on the values of honesty and integrity.

Our core purpose at First Sentier Investors is to achieve long-term investment success for investors through a specialist investment offering and an ongoing commitment to responsible investment and stewardship. This approach, combined with client service and governance, provides the core elements of our overall service quality – and is central to our assessment of value across all funds and share classes.

Our report outlines the detailed and robust methodology to our analysis, an approach that we believe leads to better outcomes for investors.

Our assessment determined that out of 84 share classes, 74 were rated Green, confirming they offer value. Ten share classes were rated Amber, which indicates opportunity for improvement and the fund board will continually assess these. No share classes were rated Red.

We intend this report to be a valuable tool in assessing the value of each of our funds and share classes. We welcome its role in improving transparency and information for our investors, and we will continue to focus on value as an integral part of our day-to-day management and oversight practices. We hope you find this year’s report useful.

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Assessment of Value report

For the year ended 31 July 2024

The report reflects our assessment of value delivered to investors in our UK fund range over the assessment period 1 August 2023 to 31 July 2024.

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First Sentier Investors became a Certified B Corporation in November 2022 with a score = 107.2, noting that the passing score is 80. Please visit the B Corp Directory to view our report and for additional information regarding the assessment process.

Copyright © First Sentier Investors (Australia) Services Pty Ltd 2024, (part of First Sentier Investors, a global asset management business. First Sentier Investors is ultimately owned by Mitsubishi UFJ Financial Group, Inc MUFG.)

In the EU: This is a marketing communication. The fund(s) mentioned here may or may not be registered for marketing to investors in your location. If registered, marketing may cease or be terminated in accordance with the terms of the EU Cross Border Distribution Framework. Copies of the prospectus (in English and German) and key investor information documents in English, German, French, Danish, Spanish, Swedish, Italian, Dutch, Icelandic and Norwegian , along with a summary of investors' rights are available free of charge at firstsentierinvestors.com

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