Key highlights

  • ASX:EAFZ provides concentrated exposure to 44 Asian companies, with the top ten making up 54.20% of the fund.
  • Taiwan (30.03%), China (20.77%) and South Korea (20.29%) are the three largest country allocations.
  • Taiwan Semiconductor Manufacturing is the largest holding at 21.96%.

The Ellerston Asia Growth Fund Complex ETF (ASX:EAFZ) is designed to give investors access to Asian companies through an ASX-quoted fund. The fund obtains its exposure through any combination of securities listed on Asian exchanges, or securities included in, or likely to be included in, its benchmark.

About the Fund

EAFZ was admitted to the ASX on 8 June 2023 and sits in the Equity Asia Pacific without Japan category, using the MSCI AC Asia ex Japan Net Return Index in Australian dollars as its benchmark. The fund’s stated universe covers exchanges in Hong Kong, China, Taiwan, Korea, India, Singapore, Malaysia, Thailand, the Philippines, Indonesia, Japan, Vietnam, Pakistan and Sri Lanka. The responsible entity is based in Sydney.

The management fee is 0.95%.

Country exposure

The largest country allocation is Taiwan at 30.03%, followed by China at 20.77%. The remaining exposure is spread across South Korea (20.29%), India (9.63%), Japan (8.61%), Singapore (3.55%), the United States (3.14%), the United Kingdom (2.14%) and Malaysia (1.84%).

Because the fund can invest beyond its benchmark’s country list, it holds Japan (8.61%) in addition to the other Asian markets, and stocks make up 94.80% of the portfolio with cash at 5.19%.

Portfolio holdings

The portfolio holds 44 companies, with top ten holdings making up 54.2% of the fund. The largest positions are Taiwan Semiconductor Manufacturing Co Ltd (21.96%), Samsung Electronics Co Ltd (9.61%), SK hynix Inc (7.12%), DBS Group Holdings Ltd (3.36%) and Tencent Holdings Ltd (2.64%).

The top ten also include Alibaba Group, HSBC Holdings, China Construction Bank, Advantest and AMMB Holdings. Taiwan Semiconductor, Samsung and SK hynix together account for 38.69% of the fund.

Understanding the exposure

The five largest positions add up to 44.69% of the fund, which shows how much of the exposure rests on a small number of names. The remaining 34 holdings share the other 45.80% of the portfolio, an average of about 1.35% each. Exposure is spread across 9 countries or regions, and the three largest allocations (Taiwan, China and South Korea) together account for 71.09% of the portfolio.

Fees, size and distributions

The fund’s most recent distribution was a final distribution of $0.301 per unit, with an ex-date of 1 July 2026 and payment on 22 July 2026.

Fund structure and reporting

EAFZ has an ISIN of AU0000278400 and a head office at Level 11, 179 Elizabeth Street, Sydney. Recent ASX announcements from the fund include a monthly units-on-issue and redemptions notice for September and the annual report for the year ended 30 June 2026, lodged on 30 September 2026.

Equity Asia Pacific without Japan funds invest in companies from the Asia Pacific region excluding Japan. Asia Pacific securities typically account for at least 75% of the portfolio, and the portfolio may include stocks from emerging markets in the region.

Units in EAFZ are quoted on the ASX and can be bought and sold through a broker during trading hours, in the same way as shares, so the exposure described above is available without buying each holding separately. It is identified as a complex ETF on the ASX. The fund is actively managed, so its holdings and weightings are chosen by the manager rather than set by an index, and they can change over time.