Legg Mason Western Asset Asian Enterprise Trust

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About The Fund

Investment Aim

To seek long-term capital appreciation of the assets of the Trust by investing primarily in equity securities of corporations in Asia (excluding Japan) with an emphasis on such corporations whose equity capitalisation is, in the view of the Managers, small to medium at the time of investment in relation to any of the markets in Asia (excluding Japan) in which the Trust is permitted to invest.

Performance Benchmark

MSCI AC Asia ex Japan (SS$) with effect from 1 February 2010. Prior to that, the benchmark was MSCI AC Far East ex Japan (S$)

CPF Investment Scheme

Included under the CPF Investment Scheme (Ordinary Account)
CPF Investment Scheme - List A Fund
 
Unit NAV
NAV:SGD 1.653
High*:SGD 3.607
Low*:SGD 0.560
*Based on since inception month end prices.
 
Fund Size:SGD 176 million
All data are as of 31 December 2011.
 
 
 

About the Investment Strategy

  • The Fund places most emphasis on identifying the best investment opportunities and on calibration of the right investment weigh to develop a focused and yet adequately diversified portfolio.
  • Targets excellent returns by generating original investment insights early and consistently and seeking to profit from inefficiently priced stocks.
  • The Fund may invest in countries like Australia, China, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and any other countries in Asia (excluding Japan).

About the Investment Team

Havenport Asset Management(“Havenport”) is an Asia Pacific Equities specialist, headquartered in Singapore. Havenport’s investment leaders have over two decades of individual experience investing in this region. Havenport is focused on managing Asian Pacific equity mandates for a broad spectrum of clients and the key investment personnel has been managing collective investment schemes in Singapore since 1995.

General Fund Literature

Fact Sheet
Fact Sheet (Chinese)
Prospectus
Product Highlight Sheet
Annual Report
Interim Report
 
 

Havenport Asset Management Pte. Ltd (“Havenport”), a Singapore incorporated company, is an independent employee-owned company incorporated in Singapore whose founders were executives of Legg Mason Asset Management Singapore Pte. Limited (“LMAMS”). Havenport is focused on managing Asian Pacific equity mandates for a broad spectrum of clients and the key investment personnel has been managing collective investment schemes in Singapore since 1995.

Havenport will be appointed as the sub-manager for Legg Mason Western Asset Asian Enterprise Trust , Legg Mason Western Asset Singapore Opportunities Trust and Legg Mason Western Asset Southeast Asia Special Situations Trust with effective from 1 April 2011.With the appointment of Havenport as the Sub-Manager, it is expected that the same team of people (originally from LMAMS) with the same investment processes will continue to manage the portfolio of the Equity Funds.

This document, prepared by Legg Mason Asset Management Singapore Pte. Limited ("Legg Mason"), is for information only and does not constitute an offer nor solicitation to buy or sell any units of the Fund. The prospectus of the Fund is available and may be obtained from Legg Mason or its authorised distributors. Investors should read the prospectus prior to any subscription. All applications for units in the Fund must be made on the application forms accompanying the prospectus. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. The value of units and the income accruing to the units, if any, may fall or rise and past performance is not necessarily a guide for future performance.

The Fund may invest in derivatives for hedging and/or efficient portfolio management purposes, and transferable securities embedding a financial derivative may be used for the purposes of hedging, efficient portfolio management and/or optimising returns. The Fund’s net asset value may have higher volatility characteristics as a result of its portfolio management style. Please refer to the prospectus for more information.

The CPF interest rate for the Ordinary Account (OA) is based on the 12-month fixed deposit and month-end savings rates of the major local banks. Under the CPF Act, the Board pays a minimum interest of 2.5% per annum when this interest formula yields a lower rate. The interest rate for the Special and Medisave Account (SMA) is pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%. The interest rate to be credited to Retirement Account (RA) will be the weighted average interest of the entire portfolio of Special Government Securities (SSGS) the RA savings are invested in which earn a fixed coupon equal to the 12-month average yield of the 10YSGS plus 1% of the point of issuance. For 2010 and 2011, the minimum interest rate for the SMA and RA is 4.0% per annum. After 31 December 2011, the 2.5% per annum minimum interest rate, as prescribed by the CPF Act, will apply to the SMA and RA. In addition, the CPF Board will pay an extra interest rate of 1% per annum on the first S$60,000 of a CPF member's combined balances, including up to S$20,000 in the OA. The first S$20,000 in the OA and the first S$40,000 in the Special Account may not be invested under the CPFIS.

Investors should note that the applicable interest rate for each of the CPF accounts may be varied by the CPF Board from time to time. Subscriptions using CPF monies shall at all times be subject to inter alia regulations and such directions or requirements imposed by the CPF Board from time to time.

All opinions and estimates in this document constitute Legg Mason's judgement as of this date and are subject to change without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

Distribution of this document may be restricted in certain jurisdictions; persons into whose possession this publication comes should inform themselves of and observe such restrictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute this document. This Fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.