Fund Overview

The Fund is managed within Man Group’s Discretionary investment capability (formerly Man GLG) and is built on the belief that relative earnings revisions are one of the most persistent and durable sources of alpha in Asia ex-Japan equity markets.

The investment approach is bottom-up and fundamentally driven, with a core focus on identifying companies with the potential for positive earnings surprises relative to market expectations over a forward-looking horizon of approximately 12 to 18 months. The team seeks to capture turning points in earnings by analysing changes in revenue, costs, margins, cash flows and balance sheet strength.

Portfolio construction is high-conviction and concentrated, typically comprising 35–45 stocks selected from an investment universe of approximately 1,200 Asia ex-Japan companies. While the portfolio is unconstrained by style, sector or market capitalisation, the team actively manages country, sector and position sizing to ensure diversification and disciplined risk control.

The Fund is deliberately style-agnostic and flexible, with the ability to tilt between growth, value, quality and size as opportunities emerge, while maintaining a strong emphasis on stock-specific drivers of return. The majority of active risk and returns are expected to be generated through idiosyncratic, company-level insights, rather than macro or thematic positioning.

Risk management is embedded throughout the investment process, with a focus on maintaining a high proportion of idiosyncratic risk and minimising unintended exposure to broader market, sector or style factors.

The Fund invests in Asia ex-Japan equities across all market capitalisations, with a preference for mid-cap stocks, and may also invest in companies that derive the majority of their revenues from the region.