Amendment to Fund Project of Krungsri BRIC Stars Fund (KF-BRIC)

1 June 2021
Krungsri Asset Management Company Limited (“the Management Company”) would like to notify unitholders of the amendments to the mutual fund project of Krungsri BRIC Stars Fund (KF-BRIC) which have been approved by the Office of the Securities and Exchange Commission.  The amendments are in relation to change of information of the Schroder International Selection Fund BRIC (Brazil, Russia, India, China) which is a foreign fund that the fund invested (“the Master Fund”). The change is summarized as follows:

1. Benchmark :
Old New
MSCI BRIC Net TR Index MSCI BRIC Net TR 10/40 Index

2. The details of Investment Strategy/ Objective/ Policy of the Master Fund :
Old New
Investment Strategy : At least two-thirds of the Fund (excluding cash) will be invested in a concentrated range of shares of companies in the MSCI BRIC index. The Fund will typically hold fewer than 50 companies with no bias to any particular size of company or industry.
The Investment Manager believes the key reason for investing in the BRIC markets (Brazil, Russia, India and China) is their excellent long-term growth potential. Their advantages include a large share of the world’s natural resources, while relatively low wage levels give these economies a significant competitive edge. Furthermore, the size of the middle class in these countries is growing rapidly, fuelling strong consumer spending growth. The Investment Manager’s ‘on the ground’ research in these countries enables them to access attractive investment opportunities.
The Fund may also invest in other financial instruments and hold cash on deposit. Financial derivative instruments may be used to achieve the investment objective and to reduce risk or
manage the Fund more efficiently.
Investment Objective:
The Fund aims to provide capital growth in excess of the MSCI BRIC (Net TR) 10/40 index after fees have been deducted over a three to five year period, by investing in equity and equity related securities of Brazilian, Russian, Indian and Chinese companies.
Investment Policy:
The Fund is actively managed and invests at least two-thirds of its assets in a range of equity and equity related securities of Brazilian, Russian, Indian and Chinese companies.
The Fund may invest directly in China B-Shares and China HShares and may invest less than 20% of its assets (on a net basis) directly or indirectly through derivatives in China AShares through Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. 
The Fund may also invest up to one-third of its asset directly or indirectly in other securities (including other asset classes), countries, regions, industries or currencies, Investment Funds, warrants and Money Market Investments, and hold cash.
The Fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the Fund more efficiently.

The Management Company will use MSCI BRIC Net TR 10/40 Index in Euro currency adjusted with the exchange rate as at the date of calculation of return to derive the THB equivalent as an indicator to assess performance of the Fund which is in line with the new benchmark of the master fund. The amendments to the statements relating to the investment strategy/objective/policy of the Master Fund as mentioned above do not have any impact and/or increase risk to the Fund. They made for the purpose of better clarification which include the deletion of statement about the restriction on holding of no more than 50 companies and the addition of statement about investment in China B-Shares and China H-Shares as well as investment of less than 20% of total assets in China A-Shares.

The amendments to the mutual fund project mentioned above shall take effect from 1 June 2021 onwards.  

Should you require any further information, please contact your account manager or our client service at  02-657-5757 press 7 for English and press 2 or via email at krungsriasset.clientservice@krungsri.com.

Please be informed accordingly.
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