Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I NAV | as of 10/09/2024 $16.56 -$0.48 (-2.82%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 96 China Region funds as of 09/30/2024 View Morningstar Details Morningstar Medalist Rating as of 03/07/2024 Analyst-Driven:100% | Data Coverage:100% Growth of $10,000 (Hypothetical) Since Inception 10/01/2011 to 09/30/2024 = $27,392.72 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective The Fund seeks to provide long-term capital appreciation Why Consider The Fund may be appropriate for investors looking to gain exposure to companies in Greater China Invests in a focused portfolio of Chinese companies identified through a combination of top-down thematic drivers and bottom-up fundamental research Real return approach focused on protecting and growing capital Documents Fact Sheet Commentary Summary Prospectus Prospectus 2023 Distributions View All Documents Investment Style Veritas China Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective Veritas China Fund is categorized as Large-Blend. It invests in large-cap companies with medium risk. Morningstar Ratings Risk-adjusted returns as of 09/30/2024 Overall Rating (of 96) 3 Years (of 96) 5 Years — 10 Years — Category China Region Read Important Investment Disclosures Ezra Sun FUND MANAGER AND HEAD OF ASIA Ezra Sun is a Fund Manager of the Veritas Asian strategies and joined the Partnership in 2004. Prior to joining Veritas Asset Management, Ezra was the Director of Investment Management and Investment Leader at Asia Newton Investment Management 1995 to 2004. In charge of Newton’s Asia Pacific fund range including Newton Oriental Fund and Mellon Asia Equity Fund. Education: BA, (Nankai University, China), BA (Nankai University, China), MA Research Student Cambridge University. Xiaoyu Liu CO-PORTFOLIO MANAGER OF CHINA FUND Xiaoyu Liu is an Asian Analyst and Co-Manager for the Veritas China strategy at Veritas. She joined Veritas in August 2022. Previously, Ms. Liu was a Fund Manager at Aviva Investors from 2014 to 2022, in charge of the Aviva Investors Asia Income Fund and a range of other Asia Pacific funds for their life client, and an equity analyst at JPMorgan Asset Management from 2007 to 2014 focusing on Asian Equities. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized. Expense Ratios Gross Expense Ratio: 1.12% Net Expense Ratio: 0.93% Expense Cap Expiration Date: 03/01/2025 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 14, 2023 $0.150900 $0.150900 — — May 27, 2021 $26.454300 — $8.934100 $17.520200 Dec 16, 2020 $2.211200 $0.110100 — $2.101100 Dec 16, 2019 $3.685500 — — $3.685500 Dec 27, 2018 $8.653300 — $1.436100 $7.217200 Dec 27, 2017 $5.711400 — $1.231000 $4.480400 Dec 27, 2016 $0.146000 — — $0.146000 Dec 28, 2015 $4.596500 $0.044800 $0.780700 $3.771000 Dec 26, 2014 $5.339300 — $0.804500 $4.534800 Dec 26, 2013 $6.820500 — $3.237100 $3.583400 Dec 26, 2012 $3.029000 $0.174200 — $2.854800 Dec 27, 2011 $2.659400 — — $2.659400 From: To: Risk & Return Statistics As of: 09/30/2024 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -8.57 -2.48 2.27 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 27.81 28.37 23.48 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.58 -0.18 0.09 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 64.04 64.25 34.41 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 98.07 96.08 90.42 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.80 0.81 0.66 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 85.88 63.46 48.68 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 12.31 17.94 18.75 View All Characteristics & Statistics All Characteristics & Statistics Veritas China Fund (MIMFX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI China Index Fund Assets (Mil.$) $43 Number of Holdings 33 657 Weighted Avg. Market Cap (Mil.$) $138,003 $140,253 Median Market Cap (Mil.$) $31,693 $6,846 Weighted Avg. P/E (1-yr Forward EPS) 14.06 9.68 Weighted Avg. P/E (Trailing EPS) 18.21 11.40 PEG Ratio 1.07 0.86 Weighted Avg. P/B 2.56 1.27 EPS Growth (Trailing 3-yr %) 4.44% -0.87% EPS Growth (Trailing 5-yr %) 15.43% 10.94% Forward EPS Growth (1-yr %) 19.83% 16.30% Forward EPS Growth (Long Term %) 15.14% 13.00% Revenue Growth (Trailing 5-yr %) 14.13% 13.38% Return on Equity 17.18% 13.88% Weighted Avg. Dividend Yield 1.83% 2.74% Debt to Equity 36.34 75.06 Trailing 12-Months Portfolio Turnover 58.84% As of: 06/30/2024 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -8.57 -2.48 2.27 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 27.81 28.37 23.48 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.58 -0.18 0.09 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 64.04 64.25 34.41 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 98.07 96.08 90.42 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.80 0.81 0.66 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 85.88 63.46 48.68 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 12.31 17.94 18.75 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.57 -0.20 0.02 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. -20.23 -6.39 3.13 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -48.71 -56.20 -56.20 As of: 09/30/2024 Market Cap Fund MSCI China Index Market Cap ($mm) 0 - 1,000 0.00% 0.01% Market Cap ($mm) 1,000 - 1,500 0.00% 0.18% Market Cap ($mm) 1,500 - 2,500 2.19% 0.71% Market Cap ($mm) 2,500 - 5,000 2.43% 5.65% Market Cap ($mm) 5,000 - 10,000 11.81% 10.75% Market Cap ($mm) 10,000 - 25,000 8.32% 16.29% Market Cap ($mm) 25,000 - 50,000 15.89% 11.33% Market Cap ($mm) 50,000 - 100,000 23.35% 12.47% Market Cap ($mm) 100,000 - 200,000 14.58% 20.97% Market Cap ($mm) 200,000 - 21.43% 21.63% Market Cap – NA 0.00% 0.00% As of: 06/30/2024 Valuation Characteristics Fund MSCI China Index P/E 0-10 5.28% 24.55% P/E 10-15 15.19% 16.01% P/E 15-20 23.89% 19.25% P/E 20-25 34.75% 25.25% P/E 25-Above 19.96% 12.27% P/E – NA 0.93% 2.66% As of: 06/30/2024 Growth Characteristics Fund MSCI China Index EPS Growth (Trailing 3-yr %) - Negative 41.78% 47.12% EPS Growth (Trailing 3-yr %) 0 - 5 7.55% 9.09% EPS Growth (Trailing 3-yr %) 5 - 10 3.20% 8.23% EPS Growth (Trailing 3-yr %) 10 - 15 9.93% 4.45% EPS Growth (Trailing 3-yr %) 15 - 20 11.20% 4.60% EPS Growth (Trailing 3-yr %) Above 20 20.52% 16.86% EPS Growth (Trailing 3-yr %) - NA 5.82% 9.64% As of: 06/30/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 06/30/2024 Tencent Holdings Ltd 18.70% Alibaba Group Holding Ltd 9.65% NARI Technology Co Ltd 5.34% BYD Co Ltd 4.06% NetEase Inc 3.70% Meituan, Class B 144A 3.27% Zijin Mining Group Co Ltd 3.07% Midea Group Co Ltd, Class A 3.02% CSPC Pharmaceutical Group Ltd 2.98% Shenzhen Mindray Bio-Medical Electronics Co Ltd 2.81% % in Top 10 Holdings 56.61% View Holding Details Holding Details Veritas China Fund (MIMFX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 06/30/2024 Tencent Holdings Ltd 18.70% Alibaba Group Holding Ltd 9.65% NARI Technology Co Ltd 5.34% BYD Co Ltd 4.06% NetEase Inc 3.70% Meituan, Class B 144A 3.27% Zijin Mining Group Co Ltd 3.07% Midea Group Co Ltd, Class A 3.02% CSPC Pharmaceutical Group Ltd 2.98% Shenzhen Mindray Bio-Medical Electronics Co Ltd 2.81% % in Top 10 Holdings 56.61% As of: 06/30/2024 Download All Holdings (PDF) As of: 08/31/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 700 Tencent Holdings Ltd Communication Services S CN HKD 160,400 48.50 $7,779,386 19.72% 9988 Alibaba Group Holding Ltd Consumer Discretionary S CN HKD 393,700 10.36 $4,080,533 10.34% 600406 NARI Technology Co Ltd Industrials S CN CNY 673,471 3.46 $2,332,554 5.91% 2899 Zijin Mining Group Co Ltd Materials S CN HKD 1,002,000 2.01 $2,015,586 5.11% 002594 BYD Co Ltd Consumer Discretionary S CN CNY 51,100 35.04 $1,790,576 4.54% PDD PDD Holdings Inc ADR Consumer Discretionary S CN USD 17,353 96.11 $1,667,797 4.23% 9999 NetEase Inc Communication Services S CN HKD 83,900 16.07 $1,348,661 3.42% 300750 Contemporary Amperex Technology Co Ltd Industrials S CN CNY 49,080 25.92 $1,272,050 3.22% 168 Tsingtao Brewery Co Ltd Consumer Staples S CN HKD 196,000 5.78 $1,133,787 2.87% EDU New Oriental Education & Technology Group Inc ADR Consumer Discretionary S CN USD 17,571 61.48 $1,080,265 2.74% 1299 AIA Group Ltd Financials S HK HKD 119,300 7.04 $840,192 2.13% 3968 China Merchants Bank Co Ltd, Class H Financials S CN HKD 197,000 4.10 $808,429 2.05% 2688 ENN Energy Holdings Ltd Utilities S CN HKD 115,400 6.44 $742,983 1.88% 9888 Baidu Inc, Class A Communication Services S CN HKD 69,200 10.55 $730,151 1.85% 601138 Foxconn Industrial Internet Co Ltd Information Technology S CN CNY 252,000 2.89 $729,310 1.85% 1801 Innovent Biologics Inc 144A Health Care S CN HKD 133,500 5.42 $723,623 1.83% 2282 MGM China Holdings Ltd Consumer Discretionary S MO HKD 520,400 1.34 $699,245 1.77% 388 Hong Kong Exchanges & Clearing Ltd Financials S HK HKD 22,800 30.51 $695,701 1.76% 300308 Zhongji Innolight Co Ltd Information Technology S CN CNY 34,400 15.41 $529,978 1.34% 1093 CSPC Pharmaceutical Group Ltd Health Care S CN HKD 812,000 0.61 $498,544 1.26% 2602 Onewo Inc Real Estate S CN HKD 205,900 2.22 $456,672 1.16% 002371 NAURA Technology Group Co Ltd Information Technology S CN CNY 10,000 44.98 $449,804 1.14% 2330 Taiwan Semiconductor Manufacturing Co Ltd Information Technology S TW TWD 14,000 29.61 $414,475 1.05% 002475 Luxshare Precision Industry Co Ltd Information Technology S CN CNY 72,900 5.56 $405,609 1.03% RIO Rio Tinto Plc Materials S GB GBP 6,360 63.05 $400,982 1.02% 300012 Centre Testing International Group Co Ltd Industrials S CN CNY 240,700 1.47 $354,708 0.90% 1114 Brilliance China Automotive Holdings Ltd Consumer Discretionary S HK HKD 770,000 0.42 $321,027 0.81% Cash & Equivalents Cash C US USD - - $5,147,598 13.05% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Tencent Holdings Ltd 1 17.03% 23.94% BYD Co Ltd 2 3.49% 22.56% Meituan, Class B 144A 3 3.13% 15.05% Proya Cosmetics Co Ltd 4 2.31% 18.96% NARI Technology Co Ltd 5 4.89% 4.05% Alibaba Group Holding Ltd 6 9.75% 2.80% ENN Energy Holdings Ltd 7 2.23% 10.06% Midea Group Co Ltd, Class A 8 2.99% 3.77% Hong Kong Exchanges & Clearing Ltd 9 1.66% 10.10% Trip.Com Group Ltd 10 2.52% 8.78% As of: 06/30/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Kweichow Moutai Co Ltd, Class A 20 5.41% -12.72% Wuliangye Yibin Co Ltd, Class A 19 3.37% -17.05% Sands China Ltd 18 1.53% -25.99% LONGi Green Energy Technology Co., Ltd. Class A 17 1.38% -27.32% Shenzhen Inovance Technology Co Ltd 16 2.25% -16.09% Baidu Inc, Class A 15 1.92% -16.79% MGM China Holdings Ltd 14 1.50% -9.47% New Oriental Education & Technology Group Inc ADR 13 2.23% -10.47% Centre Testing International Group Co Ltd 12 0.87% -20.15% NetEase Inc 11 2.47% -7.74% As of: 06/30/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Regional Allocation As of: 06/30/2024 View Allocation Details Allocation Details Veritas China Fund (MIMFX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI China Index Consumer Discretionary 33.13% 28.33% Communication Services 24.14% 22.66% Industrials 10.99% 5.04% Consumer Staples 9.48% 4.30% Health Care 7.72% 3.63% Financials 5.87% 17.56% Materials 3.07% 3.59% Utilities 2.20% 2.93% Information Technology 1.53% 5.89% Real Estate 1.43% 1.98% Cash & Other 0.45% 0.00% Energy 0.00% 4.10% As of: 06/30/2024 Investment Allocation 06/30/2024 Stocks 99.55% Bonds 0.00% Cash and Other 0.45% As of: 06/30/2024 Country Fund MSCI China Index China 92.55% 100.00% Hong Kong 3.80% 0.00% Macau 3.21% 0.00% % in Top 3 Countries 99.56% 100% As of: 06/30/2024 Region Fund MSCI China Index Developed 3.80% 0.00% Europe & Middle East 0.00% 0.00% North America 0.00% 0.00% Pacific 3.80% 0.00% Emerging 92.55% 100.00% Asia 92.55% 100.00% Latin America 0.00% 0.00% Europe & Middle East 0.00% 0.00% Africa 0.00% 0.00% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 3.65% 0.00% As of: 06/30/2024 Industry Fund MSCI China Index Interactive Media & Services 20.44% 19.03% Broadline Retail 11.31% 13.60% Electrical Equipment 8.15% 0.78% Beverages 7.35% 2.55% Hotels, Restaurants & Leisure 5.98% 6.56% Automobiles 4.06% 4.15% Entertainment 3.70% 3.12% Metals & Mining 3.07% 2.43% Household Durables 3.02% 0.84% Pharmaceuticals 2.98% 1.18% % in Top 10 Industries 70.06% 54.24% As of: 06/30/2024 Read Important Investment Disclosures About the Affiliate About Veritas Asset Management Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long-term real returns. Learn More About Veritas Asset Management's Approach FOUNDED 2003 AMG AFFILIATE SINCE 2014 HEADQUARTERS London, England Portfolio Managers Ezra Sun FUND MANAGER AND HEAD OF ASIA Read full bio Xiaoyu Liu CO-PORTFOLIO MANAGER OF CHINA FUND Read full bio Investment Approach Investment Approach Veritas China Fund Veritas combines top-down analysis, focused on identifying long term themes and trends, with bottom-up fundamental company research that seeks to identify companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. Veritas seeks to focus on quality companies in sectors that the Subadviser believes show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness. Related products Other Products From Veritas Asset Management MGSEX Veritas Asia Pacific Fund View Fund Details MFQAX Veritas Global Focus Fund View Fund Details BLUEX Veritas Global Real Return Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS