New Capital US Value Fund

Fund Objective

The investment objective is to achieve capital appreciation and income through investment in a portfolio of equity securities.

This is a focused value fund, seeking to buy US companies with high prospective earnings growth that are trading at lower valuations. The philosophy underpinning the strategy is that thorough fundamental research, allied with valuation discipline, gives investors the best chance of strong relative and absolute gains over the long term. The purchase of stocks on low multiples, relative to their earnings, is a key determinant of successful performance.

Fund Manager

Jim Cullen

Portfolio Manager at Cullen Capital Management (Sub-Advisor)


Jennifer Chang

Portfolio Manager at Cullen Capital Management (Sub-Advisor)



Warning statement

Past performance is not a guide to future performance. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV, net of fees, dividends reinvested and does not take account of commissions and costs incurred on the issue and redemption of units. US/Hong Kong dollar-based investors are exposed to currency fluctuations where funds are denominated in currencies other than US/Hong Kong dollars.

Performance data is not available if a share class is less than 12 calendar months old. However performance data for other share classes of the same fund will be available in the factsheet, provided such share classes are more than 12 calendar months old. Performance between share classes may differ due to factors such as hedging strategies and fees.

Please click here for the previous 5-year annual performance of Hong Kong authorised funds.

Important Information

  • The Fund seeks to achieve income as well as capital appreciation by investing equities and equity-related securities of companies worldwide.
  • The Fund is therefore exposed to a range of investment related risks which include risk associated with investing in equity securities, emerging markets risk, risks of investing in companies located in Mainland China, currency risk, risks in connection with investing in convertible bonds, concentration risk and derivatives risk.
  • The investment may involve risks that could result in loss of part or entire amount of investors’ investment.
  • For Income Classes, the Fund may at its discretion pay dividends out of gross income while charging all or part of the Fund’s fees (including management fees) and expenses to the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends effectively out of the Fund’s capital may result in an immediate reduction of the net asset value per share.
  • Investors should not solely rely on this document to make any investment decision. You should read and understand the offering documents for further fund details including risk factors.