MW Emerging Markets Fund
Fund launch date
Fund size
at 22/05/2017
Personal class
Unit class launch date
Unit class size
Current price
per personal unit
at 12pm on
Change in price (+/-)
Dividend yield
Calculate your fund holding value

Your fund holding value based on above price: £

Objectives and policy

The investment objective of the Emerging Markets Fund is to grow the real value of investors’ capital and income. Investments will primarily be in companies operating or incorporated in developing countries. An equal emphasis will be placed on the generation of income and on capital growth. 

The fund may invest in any geographical area and any economic sector. In accordance with the firm’s ethical principles, the fund has no investments in tobacco companies or companies directly involved in the development of arms. 


The fund holds a portfolio of direct investments in a diversified range of emerging market equities. Individual investments and geographic allocations are continually evaluated and adjustments are made according to the relative merits of each holding and the opportunities offered by different international markets.


The fund is structured as an authorised unit trust. Its structure provides investors with certain institutional safeguards and simplicity of administration. Investors will gain access, through the fund, to a portfolio that may be impractical to assemble themselves. Furthermore, as no tax is suffered on capital gains realised within the fund, there are no tax constraints on active management of fund holdings and individuals benefit from the deferral of tax on capital gains (if any) until the point at which capital is withdrawn.

Asset allocation
  • 2%
  • 98%

If you cannot see this chart, please download the Quarterly Fact Sheet

Geographic allocation
  • 71%
    Asia ex. Japan
  • 18%
    Latin America
  • 4%
  • 5%
    Emerging Europe
  • 2%
    UK (incl. cash)

If you cannot see this chart, please download the Quarterly Fact Sheet

In Asia, the outlook has improved.  There has been progress in much-anticipated tax reform in India, while the controversial president of the Philippines has indicated his desire to boost foreign investment and improve infrastructure.  In China, too, the picture appears to be brightening.

In Latin America, conditions are more uncertain.  Brazil has a new government after the impeachment of Dilma Rousseff, but the economy remains in recession and promised structural reforms may prove unpopular and difficult to implement.  Mexico would be particularly vulnerable to any protectionist measures that President-Elect Donald Trump might implement, so investment is likely to continue to slow. Elsewhere in the region, there are early signs of improvement in Argentina.  After painful but necessary reform, inflation is flowing and the IMF is forecasting a return to growth next year.

After a difficult period following the collapse of commodity prices, relative growth trends now favour emerging markets over their developed peers.  Global economic recovery remains fragile and the political atmosphere in many countries appears to be turning towards protectionism and populism, which could threaten growth.  Nonetheless, many developing markets retain key defences against recession, including the ability to cut interest rates and favourable demographic forces.

In the long term, McInroy & Wood believes that there are particularly attractive investment opportunities to be found in the emerging markets. This reflects our view that the centre of economic gravity is shifting away from the developed economies of the world towards the developing ones. The latter are benefiting from favourable trends in demographics, liberalisation, and capital and technology flows. The result has been a superior rate of economic growth in much of the developing world, and we expect this to result in rising profit growth and good stock market returns in the future.

Total return on investment
net of charges and assuming re-investment of dividends

You must upgrade your browser in order to view this chart.

Total return (£)
Value of initial £1,000 investment
RPI inflation
Total returns
Total return (%)
to 30th April 2017
1 year
3 years
5 years
10 years
Since launch
Cumulative return
Annualised return
Discrete annual returns
Total return (%)
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
12 months to 30th April
  • 23.6
  • -3.3
  • 10.9
  • -11.6
  • 20.7
  • -3.7
  • 15.3
  • 65.8
  • -18.6
  • 16.7
Historic prices and dividends
Personal class
Legacy class (closed 21/12/2016)
Launch date
McInroy & Wood Portfolios Ltd 
Investment adviser
McInroy & Wood Ltd 
Custodian & Trustee
BNY Mellon Trust & Depositary (UK) Ltd 
Fund size (at 22/05/2017)
Independent auditor
PricewaterhouseCoopers LLP 
Fund status
Authorised unit trust 
Reference currency
IA sector
Valuation and dealing
12pm on each UK business day 
Valuation basis
Forward, single-price basis 
Unit type
Income (reinvestment facility available) 
Min. initial and subsequent investment
Regular savings facility
£100 monthly minimum investment 
Reporting periods
31st March and 30th September 
Current tax year ISA/JISA limits
£20,000 / £4,128 
Dividend information
Ex-dividend dates
1st April and 1st October 
Payment dates
On or before 31st May and 30th November for each reporting period 
Most recent dividends:
Personal class
Unit class
Personal class
Launch date
Unit price
(at 22/05/2017)
Dividend yield
Fees and charges
Personal class
Initial charge
Ongoing charges figure
(including 1.00% annual management charge)
Exit charge
Performance fee

If you are considering investing in the fund or wish to manage existing investments all the information and forms you need can be downloaded using the links below. All investments require the completion of the appropriate form which should then be sent to the postal address below.

Our funds are also available from various platforms. These are categorised as either Retail (for anyone investing directly in their own right) or Advisor (for investments made via a professional intermediary).

Please do not hesitate to contact our Unit Trust Team should you have any questions.

Fund documentation
Contact us
If you require further information or clarification, or would simply like to discuss any aspect of the services we provide, please call us on the number below and we will make sure the right person speaks to you.


+44 (0)1620 825 867

Postal address for mailing of all forms

McInroy & Wood Portfolios Limited
PO Box 12177
CM99 2EA

By using our site you accept the terms of our cookie policy.