Polen Capital Emerging Markets Growth Fund

Active Share
Downside Capture
Inception Date

Investment Objective

Our Emerging Markets Growth strategy seeks to achieve long-term growth by building a concentrated portfolio of outstanding businesses with competitive advantages and the potential for sustained growth.

Why Invest in Polen Emerging Markets Growth?+

  • Emerging markets growth strategy with a strong emphasis on sustainable earnings growth
  • Low portfolio turnover with long-term holding periods
  • Concentrated portfolio of 25-40 high-quality growth companies
  • Focus on companies with sustainable business models, robust balance sheets, proven management teams, and clear alignment of interest between majority and minority shareholders

Product Profile

Number of Holdings 25-40
Style Growth
Benchmark MSCI Emerging Markets Index

Expertise in High Quality Growth Investing

Damian Bird, CFA
Head of Team, Portfolio Manager & Analyst, Emerging Markets Growth
15 years of experience
Dafydd Lewis, CFA
Portfolio Manager & Analyst, Emerging Markets Growth
18 years of experience
Rishikesh Patel
Portfolio Manager & Analyst, Emerging Markets Growth
20 years of experience

Fund Details

This Sub-Fund integrates ESG criteria into its investment process and, in addition, aims to achieve a portfolio ESG score above the ESG score of its benchmark, or investment universe (where there is no benchmark). For full details please refer to the Pre-Contractual Annex, the Polen Sustainable Investment Policy and the Polen Capital ESG Policy Statement. The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund.

The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund. An investment in the Fund concerns the acquisition of shares in the Fund and not in any underlying asset of the Fund. As a result, shares held in the Fund do not confer any interest or share in any particular part of the assets of the Fund. The value of the investment in the Fund can reduce as well as increase and, therefore, the return on the investment in the Fund will be variable. Income may fluctuate in accordance with market conditions and taxation arrangements.

Please see the Prospectus for further information on the SFDR classification of the fund.

Risk Indicator

What Are the Risks and What Could I Get in Return?

Risk Scale [4]

The risk indicator assumes you keep the product for five years. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.

We have classified this product as 4 out of 7, which is a medium-high risk class. This rates the potential losses from future performance at a medium-high level, and poor market conditions will likely impact our capacity to pay you.

You may receive payments in a different currency so the final return you will get depends on the exchange rate between the two currencies.

This risk is not considered in the indicator shown above. Other risks to be considered are: Counterparty, Currency, Volatility, Derivative and Emerging & Frontier Market risks. All investments involve risks. The risk information in this page is intended to give an idea of the main and material risks associated with this fund. Any of these risks could cause the fund to lose money, perform less well than similar investments, experience high volatility (ups and downs in NAV), or fail to meet its objective over any period of time. Please refer to the Prospectus, the Supplement, and the KID available on the Materials tab of this website for further information on risks.

Performance (%)

Past performance does not predict future returns.

The performance data quoted represents past performance does not guarantee future results, and there is a risk of an investor losing all or part of their investment in the Fund. Current performance may be lower or higher. Periods over one-year are annualized. Performance figures shown are net of fees for the USD I share class (Institutional), which carry an annual investment management fee of 0.75%, with an annual Ongoing Charge based on the financial year ending 30 November, 2022 of 1.17%. The performance data is net of fees and does not take account of the commissions and costs incurred on the issue and redemption of units. Performance shown prior to March 2023 represents results achieved by the Emerging Markets team while it was a part of Columbia Threadneedle (EM) Investments Limited. The team joined the firm on 1 March 2023.

Portfolio Statistics*

*Since inception

Risk-Adjusted Returns (%)*

*Since inception

Share Class Details

KIID Ongoing Charge is as of November 30, 2022 and may be higher or lower and where applicable, the KIID Ongoing Charge is equal to the Max Ongoing Charge because such share class has not yet launched. The ongoing charge cap excludes all portfolio transaction charges. Performance for the various share classes will be more or less depending on differences in fees and ongoing charges. Fees, charges and costs may increase or decrease as a result of currency exchange rate fluctuations.

The difference at any one time between the sale and repurchase price of share in the Fund means that the investment should be viewed as medium term to long term. Entry fees charged will lower returns. The ongoing charges figures shown here are based on expenses for the year ending 30 November 2022. This figure may vary from year to year and the Fund’s annual report for each financial year will include details on the exact charges made. It excludes all portfolio transaction charges and performance fees. Please consult the prospectus for a comprehensive explanation of all fees.

Top 10 Holdings (% of Portfolio)

Active Share

GICS Sector Exposure (% of Portfolio)

Portfolio Characteristics

In an effort to avoid distorting aggregate portfolio characteristics, the weighted average portfolio calculations exclude an individual financial ratio that has a negative denominator or an outlier value (e.g., greater than 100x or 100%, less than 0%) which we view as not representative of the ongoing underlying economics of the business, likely due to transitory issues or GAAP accounting limitations. Additional information is available upon request.

For the avoidance of doubt, the portfolio characteristics are based on the underlying assets of the Fund. This information, along with all other information on our website, is not intended to be construed or understood in any way to equate to the expected or projected future performance/returns of the Fund. The Investment Manager may at any time determine to divest from some or all of the holdings in the Fund and invest in other assets. The information contained on our website is not a guarantee or indication of the future performance/returns of the Fund. As a result, there is a risk of an investor losing all or part of their investment in the Fund.

A summary of information about investors’ rights and collective redress mechanisms can be found in English on the Materials tab of this website.

Holdings are subject to change. The top holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. There is no assurance that any of the securities noted will remain in a portfolio at the time you view this webpage.. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. For a complete list of all securities held in this Fund in the prior year, contact [email protected].

Amounts shown are expressed in USD unless otherwise indicated. All performance data is shown USD currency. Changes in exchange rates may have an adverse effect on the value, price, or income of the product. Whilst the Company aims to ensure the accuracy of the data contained in the factsheet, it is provided for information purposes only. It should not be relied on as the basis for making an investment decision.

+Past performance is no indication of current or future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units.

The MSCI Emerging Markets Index is a market capitalization weighted equity index that measures the performance of the large and mid-cap segments across emerging market countries. The index is maintained by Morgan Stanley Capital International. It is impossible to invest directly in an index. The performance of an index does not reflect any transaction costs, management fees, or taxes.

Active Share: a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. Alpha: the excess return of an investment relative to the return of the benchmark. Annual Turnover: percentage of the portfolio holdings that have been replaced in a given year. Beta: the measure of systemic risk of a portfolio in comparison to the market as a whole. Downside Capture: a statistical measure of overall performance relative to a benchmark during declining markets. Est. 3-5 year Earnings Growth: a Polen Capital estimate of projected long-term earnings growth rates. GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group. Information Ratio: a measurement of portfolio returns relative to a given benchmark. Net Debt / Equity ex lease: is a measure of a company’s financial leverage calculated by dividing its net liabilities by stockholders’ equity, excluding leases. P/E Forward: denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio. Return on Invested Capital: assesses a company’s efficiency at allocating capital and is measured by operating profit after taxes divided by investment capital. Risk-Adjusted Return: a calculation of the profit or potential profit from an investment that considers the degree of risk that must be accepted in order to achieve it. SFDR: Sustainable Finance Disclosure Regulation. Sharpe Ratio: a ratio of the return on an investment relative to its risk. Standard Deviation: measurement of the dispersion or volatility of investment returns relative to its mean or average. Upside Capture: a statistical measure of overall performance relative to a benchmark during rising markets. Weighted Average Market Cap: a weighted average of the price of each security multiplied by the number of shares outstanding for all the securities in the portfolio.

The management company of Polen Capital Emerging Markets Growth Fund is KBA Consulting Management Limited, 35 Shelbourne Road, 4th Floor, Ballsbridge, Dublin 4, Ireland. KBA Consulting Management Limited is authorized and regulated by the Central Bank of Ireland. Please note that the management company may de-notify arrangements made for marketing as regards shares of the fund in a Member State of the EU in respect of which it has made a notification.

Risk factors you should consider before investing: The value of investments and any income will fluctuate and investors may not get back the full amount invested. Where the Fund’s Investment Manager has expressed views and opinions on this webpage, these may change.

The Fund invests in foreign markets which involve risks such as social and political instability, market illiquidity, currency fluctuations and limited regulation. Additionally, investing in emerging market countries may be less liquid and more volatile than securities markets in more developed markets or in companies that are less well-established and substantially smaller. These companies may often experience significant price volatility and potential lack of liquidity due to low trading volume of their securities.

Polen Capital Investment Funds Plc has not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended (1933 Act). No shares may be offered or sold, directly or indirectly in the United States or to any U.S. person unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act is available. A “U.S. person” is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business.  In the United States, this material may be distributed only to a person who is a “distributor,” or who is not a “U.S. person,” as defined by Regulation S under the U.S. Securities Act of 1933 (as amended).

The Fund is considered to be actively managed in reference to the MSCI Emerging Markets Index (the “Benchmark”) by virtue of the fact that it uses the Benchmark for performance comparison purposes. Certain of the Fund’s securities may be components of and may have similar weightings to the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Fund or as a performance target and the Fund may be wholly invested in securities which are not constituents of the Benchmark.

UK Investors: Investors should read the prospectus, key investor information document, the memorandum and articles of association as well as the annual and semi-annual reports of the Company before investing, copies of which are available free of charge from the fund’s UK Facilities Agent, Polen Capital UK LLP, 1st Floor, 15-18 Austin Friars, London EC2N 2HE, United Kingdom, Tel: 442080570457, email: [email protected].

Swiss Investors: This is an advertising document. The state of the origin of the fund is Ireland. In Switzerland, the representative is ACOLIN Fund Services AG, Leutschenbachstrasse 50, CH-8050 Zurich, whilst the paying agent is NPB Neue Privat Bank AG, Limmatquai1 / am Bellevue, CH-8024 Zurich. The prospectus, the key information documents or the key investor information documents, the articles of association as well as the annual and semi-annual reports may be obtained free of charge from the representative.

Investors should note that, relative to the expectations of the Autoritē des Marches Financiers, this UCITS presents disproportionate communication on the consideration on non-financial criteria in its investment policy. 

This webpage is a marketing communication. Please see the Prospectus for additional information on the investment policy, objectives, and strategy of the Fund.

Please Read and Agree to the Following Conditions of Use

By entering this site, you confirm that you are an investor accessing the website on your own initiative without any solicitation to do so by Polen Capital or one of the funds described herein (each, a “Fund”) and that no law or regulation prohibits you from accessing the information on this website.

The Fund is not publicly offered to all investors in all jurisdictions. Certain share classes of the Funds described in the following pages are registered for sale only in the countries listed below:

Further information is available in the prospectus, relevant country supplement and/or other Fund documents.

The information made accessible within this site is made available for informational purposes only and is published in good faith, but Polen Capital makes no representation or warranty, either expressed or implied, to the accuracy or completeness of the information, and it should not be relied on as such. Investors should read the information in the relevant KIID before deciding that an investment in a Fund is suitable to meet their needs. Investors should also read the information in the full Prospectus before investing.

The value of investments in the Fund and the income from them may fall as well as rise and investors may not get back the full value of capital invested. Returns will depend on market conditions, including variation in currency exchange rates and your personal tax circumstances. Past performance is not a reliable guide to future returns.

The Funds are within an umbrella type investment company with variable capital and segregated liability between funds incorporated under the laws of Ireland under registration number 522617. The Fund is authorised by the Central Bank of Ireland pursuant to the European Union (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 and has its registered office at 1 George’s Quay Plaza, George’s Quay, Dublin 2, Ireland.

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