6 9

Asia Ex-Japan Fund

DISCLOSURES

THIS INFORMATION IS FOR MARKETING PURPOSES ONLY

Please note that this is an actively managed product. 

Class I shares are only available to certain qualifying institutional investors.

LU0219454807
$ 322.59
$3.84 As of 14-Mar-25
US$38M
As of 28-Feb-25

Asia Ex-Japan Fund

LU0219454807
$3.84 As of 14-Mar-25
As of 28-Feb-25
LU0219454807
$ 322.59
$3.84 As of 14-Mar-25
$38M
As of 28-Feb-25
  • Overview

    INVESTMENT OBJECTIVE

    Seeks capital appreciation, measured in US dollars.

    INVESTMENT FOCUS

    Analyst run portfolio that looks for favorable growth prospects and attractive valuations in the Asia region (excluding Japan)

    Country and industry weights driven by stock selection, not top-down allocations

    Typically has been diversified by sector and invests across industries, styles and market capitalizations

    Important Risk Considerations

    The fund may not achieve its objective and/or you could lose money on your investment in the fund.

    Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.

    Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.

    Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.

    Please see the prospectus for further information on these and other risk considerations.

    Fund Information

    • Fund Inception 26-Sep-2005
    • Net Assets (US$ M) As of 28-Feb-25 US$38.72
    • Fiscal Year End JANUARY
    • SFDR Classification

      Article 6: Integrates sustainability risks into the investment process.

      Article 8: Systematically promotes a stated environmental or social characteristic and provides enhanced disclosure accordingly.

      Article 9: Typically for "impact" funds, which have a dual objective of financial return and specific environmental or social outcomes.
      Article 6
    • Benchmark MSCI All Country Asia (ex-Japan) Index (net div)

    Share Class Information

    • Class Inception 26-Sep-2005
    • Net Asset Value (NAV) As of 14-Mar-25 $322.59
    • Most Recent NAV Change As of 14-Mar-25 $3.84 | 1.20%
    • ISIN LU0219454807
    • SEDOL B08NF94
    • WKN A0ESBH
    • Bloomberg MAPEIU1 LX
    • CUSIP L6365R178
    • Maximum Sales Charge --
    • Benchmark MSCI All Country Asia (ex-Japan) Index (net div)

    MANAGERS

    Team of Investment Professionals
    Team of Investment Professionals
    Sanjay Natarajan
    Sanjay Natarajan

    General Oversight

    17 YEARS WITH PORTFOLIO

    Top 10 Holdings

    As of 28-Feb-25
    • Taiwan Semiconductor Manufacturing Co Ltd
    • Tencent Holdings Ltd
    • HDFC Bank Ltd
    • AIA Group Ltd
    • Alibaba Group Holding Ltd
    • Samsung Electronics Co Ltd
    • DBS Group Holdings Ltd
    • China Construction Bank Corp
    • China Merchants Bank Co Ltd
    • PDD Holdings Inc ADR
    Full and Historical Holdings
    The portfolio is actively managed, and current holdings may be different.
  • Performance

    Performance

    Collapse Expand
    12 Month Total Returns

    12 Month Total Returns (%)

    12 Month Total Returns (%)

    As of 28-Feb-25 [updated monthly]
    These results represent the percent change in net asset value.
    *YTD Updated Daily as of 14-Mar-25, subject to revision and not annualized.
    12 month period ending:
    28-Feb-21
    or Life

    Life performance is only shown when 5 years of performance is not available.
    		28-Feb-22 28-Feb-23 28-Feb-24 28-Feb-25 YTD % * Class Inception
    Class I1 Shares, US Dollars at NAV 41.31 -14.79 -13.80 -2.12 12.82 4.32 26-Sep-2005
    MSCI All Country Asia (ex-Japan) Index (net div) 41.95 -14.44 -14.40 4.94 14.14 - -
    12 month period ending: Class I1 Shares, US Dollars at NAV
    28-Feb-21 or Life

    Life performance is only shown when 5 years of performance is not available.
    		41.31
    28-Feb-22 -14.79
    28-Feb-23 -13.80
    28-Feb-24 -2.12
    28-Feb-25 12.82
    YTD % * 4.32
    Class Inception 26-Sep-2005 26-Sep-2005

    Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

    Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

    Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

    Important Performance Information

    Class I1 Roll-Up shares do not pay distributions to shareholders. 

    The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.

    Average Annual Total Returns

    Average Annual Total Returns (%)

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Updated monthly as of 28-Feb-25
    *YTD Updated Daily as of 14-Mar-25, subject to revision and not annualized.

      Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

      Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

      Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

      The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.

      The Fund's benchmark is indicated for performance comparison only. 

      MORNINGSTAR RATING
      Morningstar View Overall Morningstar Ratings Information
      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      NA
      THREE YEAR
      Out Of Funds
      NA
      FIVE YEAR
      Out Of Funds
      NA
      TEN YEAR
      Out Of Funds
      NA

      Important Performance Information

      Class I1 Roll-Up shares do not pay distributions to shareholders. 

      The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.

      Annual Rate of Return

      Annual Rate of Return (%)

      Annual Rate of Return (%)

      As of 31-Dec-24 Benchmark: MSCI All Country Asia (ex-Japan) Index (net div)
      annual rate of return table
      Life

      Life performance as of  28-Feb-25
      		2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
      At NAV 6.09 -7.40 7.08 36.49 -11.77 20.39 25.96 -6.86 -19.35 0.00 9.28
      MSCI All Country Asia (ex-Japan) Index (net div) - -9.17 5.44 41.72 -14.37 18.17 25.02 -4.72 -19.67 5.98 11.96
      At NAV MSCI All Country Asia (ex-Japan) Index (net div)
      2024 9.28 11.96
      2023 - 5.98
      2022 -19.35 -19.67
      2021 -6.86 -4.72
      2020 25.96 25.02
      2019 20.39 18.17
      2018 -11.77 -14.37
      2017 36.49 41.72
      2016 7.08 5.44
      2015 -7.4 -9.17
      Life

      Life performance as of  28-Feb-25
      		6.09 -

      Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested. 

      Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.

      Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.

      Important Performance Information

      Class I1 Roll-Up shares do not pay distributions to shareholders. 

      The Fund's investment strategy was changed on 1 August 2018; performance shown prior to this date reflects the Fund's prior investment strategy.

      Pricing & Distributions

      Pricing History

      • NAV at Close of Trading on:  14-Mar-25
      • Net Asset Value (NAV):  $322.59
      • Change ($) (since 13-Mar-25):  3.84
      • Change (%) (since 13-Mar-25):  1.20
      • Market Price (MP): 
      Maximum data displayed is for the most recent 10 years
      Historical NAV Lookup
      Enter date for which you wish to obtain a Historical NAV for this fund

      Historical NAV may not be available for all dates.

      Historical MP Lookup
      Enter date for which you wish to obtain a Historical MP for this fund

      Historical MP may not be available for all dates.

      Historical Exit Price Table
      NAV at Close of Trading on Net Asset Value (NAV)
      No Data Available

      Swing Pricing

      Distributions
      The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.

      The Payable Date is the date on which the distribution is paid to shareholders.

      Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.

      Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.

      Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.

      There are no distributions for this share class or distributions are currently not available
      Performance Attribution

      Performance Attribution

      Guide

      Available approximately 15 or 25 days after month end

      Quarterly Attribution

      Available approximately 25 days after quarter end

      Year To Date (YTD)
      12 Month Attribution
      Calendar Year
      No Data Available
    • Portfolio & Holdings Information

      Portfolio & Holdings Information

      Portfolio characteristic data are based on unaudited net assets.

      The portfolio is actively managed, and current holdings may be different.

      • Select All
      • Largest Sector Weights
      • Holding Characteristics
      • Performance Statistics
      • Top 10 Holdings
      • Type Of Holdings (%)
      • Sector Weights (%)
      • Currency Weights %
      • Region & Country
      • Top Country Weightings (%)
      Collapse Expand
      Sector, Holding & Characterstics

      Largest Sector Weights

      As of 28-Feb-25

      The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.  

      Map represents sectors greater than 5%.

      Holding Characteristics

      Weighted average price/earnings (P/E) ratio is the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted average of the P/E ratios of the securities held, excluding companies with projected negative earnings.

      Weighted Average Price/Cash Flow: Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.

      Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.

      Price/Book ratio (P/B) is the ratio of a stock's price to its book value per share.

      Weighted Average IBES Long Term EPS Growth is the weighted average forecast, by sell side analysts of how much a company's net income will grow over the long-term (typically 3-5 years). The forecast is derived from all polled analysts' estimates. Source FactSet. 

      Weighted Average Dividend Yield:The equivalent exposure weighted average of the dividend yields of the securities held in the portfolio (or the equity segment of a multi asset class mandate).

      Weighted Average Market Cap: Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.

      Weighted Median Market Cap: Weighted Median Market Cap is the Market Capitalization of the firm defined by the median dollar within the distribution of the market capitalization of all companies in the index or portfolio. It is calculated from a running total of market capitalizations from smallest company to largest. The Market Capitalization of the firm that sorts the total dollar value of all market capitalizations into two equal portions defines the value.

      As of 28-Feb-25
      Data table of holding characteristics
      characterstics Equity Earning
      Weighted Average Price/Earnings (next 12 months) 12.46x
      Weighted Average Price/Cash Flow 11.78x
      Weighted Average Price/Sales 1.84x
      Weighted Average Price/Book 2.09x
      Weighted Average IBES Long Term EPS Growth 11.17%
      Weighted Average Dividend Yield 2.26%
      Weighted Average Market Cap $185.0b
      Weighted Median Market Cap $80.1b
      Number of Issues 68
      Active Share

      Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
      		59.26%
      Portfolio Turnover (U.S. Method)

      Turnover Ratio is the percentage of a portfolio's securities that have changed over the course of a year: (lesser of purchases or sales)/average market value.
      		55.76%
      Portfolio Turnover (LUX Method)

      Lux Method

      Turnover ratio is the percentage of a portfolio's assets that have changed over the course of a year: ((Purchases + Sales) -  (Subscriptions + Redemptions))/Average Month End Assets
      		50.11%
      % in Stocks 97.96%
      % Cash & Cash Equivalents 2.04%
      % in Top Ten 38.06%

      Performance Statistics

      Alpha is a measure of the portfolio's risk-adjusted performance. When compared to the portfolio's beta, a positive alpha indicates better-than-expected portfolio performance and a negative indicates alpha worse-than-expected portfolio performance.

      Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. It is most reliable as a risk measure when the return fluctuations of the portfolio are highly correlated with the return fluctuations of the index chosen to represent the market.

      Information ratio is a measure of consistency in excess return. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return.

      R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market.  Index portfolios will tend to have values very close to 100.  R squared is not a measure of performance.

      The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. It uses a standard deviation and excess return. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.

      Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The larger the portfolio's standard deviation, the greater the portfolio's volatility.

      Tracking error is the standard deviation of a portfolio's excess returns. Excess returns are a portfolio's return minus the benchmark's annualized return.

      Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed.

      Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.

      Updated Monthly As of 28-Feb-25
      Benchmark
      MSCI All Country Asia (ex-Japan) Index (net div)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha -0.25 -1.64 -2.36
      Beta 0.98 1.02 1.03
      R-squared 95.09 95.68 95.58
      Standard Deviation % 17.33 19.69 20.50
      Sharpe Ratio 0.12 0.01 -0.29
      Tracking Error 3.86 4.12 4.35
      Information Ratio -0.10 -0.42 -0.57
      Treynor Ratio 2.12 0.20 -5.69
      Downside Capture % 95.85 104.88 106.91
      Upside Capture % 94.88 97.92 96.81

      Top 10 Holdings

      As of 28-Feb-25
      • Taiwan Semiconductor Manufacturing Co Ltd
      • Tencent Holdings Ltd
      • HDFC Bank Ltd
      • AIA Group Ltd
      • Alibaba Group Holding Ltd
      • Samsung Electronics Co Ltd
      • DBS Group Holdings Ltd
      • China Construction Bank Corp
      • China Merchants Bank Co Ltd
      • PDD Holdings Inc ADR

      Full and Historical Holdings

      The portfolio is actively managed, and current holdings may be different.

      Type Of Holdings (%)

      As of 28-Feb-25

      Sector Weights (%)

      As of 28-Feb-25
      •  % Assets
      • Technology
        24.86
      • Financial Services
        23.09
      • Consumer Cyclicals
        18.92
      • Capital Goods
        15.78
      • Energy
        5.65
      • Consumer Staples
        5.07
      • Communication Services
        2.63
      • Health Care
        1.95
      • Cash & Cash Equivalents
        2.04

      The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.  

      Exposures

      Currency Weights (%)

      As of 28-Feb-25
      • Hong Kong Dollar
        34.35
      • Taiwan Dollar
        18.61
      • Indian Rupee
        15.39
      • South Korean Won
        11.32
      • Chinese Renminbi
        7.06
      • Singapore Dollar
        4.07
      • United States Dollar
        3.03
      • Indonesian Rupiah
        2.57
      • Thailand Baht
        2.36
      • Philippine Peso
        1.22
      Region & Country

      Region & Country

      As of 28-Feb-25
      Region & Country Table
      Region & Country % Assets
      Emerging Markets
      7 Countries
      86.21
      Asia/Pacific ex-Japan
      2 Countries
      10.57
      Cash & Cash Equivalents
      1 Countries
      2.04
      United Kingdom
      1 Countries
      1.17
      By Country Table
      By Country

      Top Country Weightings (%)

      As of 28-Feb-25
      • China
        33.74
      • Taiwan
        18.61
      • India
        16.38
      • South Korea
        11.32
      • Hong Kong
        6.50
      Important Characteristics Information
      The portfolio is actively managed, and current holdings may be different.

      Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

      *Short positions, unlike long positions, lose value if the underlying asset gains value.

    • Resources

      Resources

      Collapse Expand
      Product Resources

      Fact Sheets are available approximately 15 days after month end.


      Quarterly Portfolio Review is available approximately 25 days after quarter end.


      Full Holdings available approximately 25 days after month end.


      Monthly Portfolio Review available approximately 15 days after month end.


      Product Presentation available approximately 25 days after quarter end.


      Available approximately 15 or 25 days after month end

      Quarterly Investment Update available approximately 25 days after quarter end.


      Monthly Investment Update available approximately 25 days after month end.
      Fund Documents & Fact Sheets

      Fund Documents & Fact Sheets

      Click here to view fund documents such as Key Investor Documents, Complete Prospectus, Annual Report, Semi Annual Report, Swing Pricing, and Fact Sheets. Some of these documents are available in other languages.
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