The GEME fund aims to capture the significant growth potential of emerging markets through a concentrated investment approach, typically holding between 20 and 50 distinct equity and equity-linked securities. Its portfolio includes common and preferred stocks, along with American Depositary Receipts (ADRs), sourced from both large- and mid-capitalization companies. The fund commits a minimum of 40% of its assets to a diverse range of non-U.S. countries, reducing this allocation to no less than 30% under less favorable market conditions. Its investment philosophy is value-driven, meticulously identifying and acquiring undervalued companies believed to be trading below their true worth. This is accomplished using proprietary valuation models that synthesize a top-down assessment of macroeconomic trends with a rigorous bottom-up analysis of individual companies. While primarily focused on equities, the fund may also allocate up to 10% of its assets to fixed-income securities, participatory notes for accessing restricted markets, and China A-shares. To mitigate currency risk, derivatives are employed for hedging. The fund is authorized to use leverage, up to 15% for long positions, and may establish short positions, capped at 20%, strictly for hedging purposes. Investments are liquidated when they either exceed their estimated intrinsic value, exhibit a decline in fundamental business strength, or heighten the overall risk profile of the portfolio.

ICICI Bank Limited

JD.com, Inc.

YPF Sociedad Anónima

Pan American Silver Corp.

Full Truck Alliance Co. Ltd.

Joint Stock Company Kaspi.kz

Yum China Holdings, Inc.

Credicorp Ltd.

Taiwan Semiconductor Manufacturing Company Limited

HDFC Bank Limited

Pacific NoS Global EM Equity Active ETF

GEME Holdings & Sector Breakdown