Schroder International Selection Fund Middle East by pengxiang


									February 2010                                                                                        All data are expressed as at 26 February 2010

Schroder International Selection Fund
Middle East
A Accumulation Share Class
                                                  To provide capital growth primarily through investment in equity securities of Middle Eastern companies including
Investment Objective,                             companies in emerging Mediterranean markets. The portfolio may also, to a limited extent, seek exposure to the markets
                                                  of Northern Africa.
Policy and Risk
                                                  The value of investments and the income from them may go down as well as up and investors may not get back the
                                                  amounts originally invested. Investments in equities are subject to market risk and, potentially, to currency exchange rate
                                                  risk. This fund may use financial derivative instruments as a part of the investment process. This may increase the fund’s
                                                  price volatility by amplifying market events. Investments in emerging markets are subject to market risk and, potentially,
                                                  liquidity and currency exchange rate risk.

                                                  Fund Manager                                                   Allan Conway & Rami Sidani
Key Information
                                                  Total Fund Size (Million)                                      USD 187.0
                                                  Fund Base Currency                                             USD
                                                  Fund Launch Date                                               03/09/2007
                                                  Share Launch Price                                            10.00 (03/09/2007)
Share Price Information in                        Share Price End of Month                                      7.23
USD                                               Max Share Price last 12 Months                                8.08 (20/10/2009)
                                                  Min Share Price last 12 Months                                4.77 (03/03/2009)

Performance over 5 years                        30.0 %
                                                20.0 %
                                                10.0 %
                                                  0.0 %
       Middle East                              -10.0 %
       MSCI Arab Markets and Turkey with        -20.0 %
       Saudi Arabia capped at 20%
                                                -30.0 %
                                                -40.0 %
                                                -50.0 %
                                                -60.0 %
                                                       02/05 05/05 08/05 11/05 02/06 05/06 08/06 11/06 02/07 05/07 08/07 10/07 01/08 04/08 07/08 10/08 01/09 04/09 07/09 10/09 01/10
                                                      02/2005                  02/2006                  02/2007                 02/2008                 02/2009               02/2010

Performance in %                                                      YTD           1 month        3 months          6 months             1 year           3 years            5 years

Middle East                                                           -1.4             -1.4             11.9              -1.9              48.5                 ---              ---
MSCI Arab Markets and Turkey with Saudi Arabia                         0.8              1.1               3.1             -1.4              49.6                 ---              ---
capped at 20%

                                                                        Q4/2008 -               Q4/2007 -               Q4/2006 -                  Q4/2005 -               Q4/2004 -
Discrete Yearly Performance in %                                         Q4/2009                 Q4/2008                 Q4/2007                    Q4/2006                 Q4/2005

Middle East                                                                  27.9                   -53.7                        ---                      ---                     ---
MSCI Arab Markets and Turkey with Saudi Arabia                               31.3                   -47.6                        ---                      ---                     ---
capped at 20%

Past performance is not a guide to future performance and may not be repeated.
All fund performance data are on a NAV to NAV basis, net income reinvested. Data is not available for the time periods with no % growth stated. In case a share class is
created after the fund's launch date, a simulated past performance is used, based upon the performance of an existing share class within the fund, taking into account the
difference in the Total Expense Ratio.
Some performance differences between the fund and the benchmark may arise because the fund performance is calculated at a different valuation point from the

Source: Schroders
The constituent country weights in the benchmark were rebalanced on September 30th, 2009 as follows [Country benchmark weight% (previous weight)]: Turkey 23%
(19%), Saudi Arabia 20% (10%), Kuwait 20% (17%), UAE 10% (5%), Egypt 9% (5%), Qatar 6% (5%), Lebanon 2% (1%), Other countries 10% (8%) and Israel 0% (30%).
February 2010                                               Schroder Investment Management (Luxembourg) S.A.                   Tel.: (352) 341 342 212 Fax: (352) 341 342 342.
                                                            5, rue de Höhenhof, L-1736 Senningerberg                           For your security, all telephone calls are recorded.

Schroder International Selection Fund
Middle East
A Accumulation Share Class
Top 10 Holdings in %
Holding                                                                                                                Sector                                                                      % NAV
   1. Turkiye Garanti Bankasi                                                                                          Financials                                                                          6.8
   2. Mobile Telecommunications                                                                                        Telecommunication services                                                          6.5
   3. Saudi Basic Industries                                                                                           Materials                                                                           6.3
   4. The National Bank Of Kuwait                                                                                      Financials                                                                          3.9
   5. Turkcell Iletisim Hizmet                                                                                         Telecommunication services                                                          3.5
   6. Tupras Turkiye Petrol Rafine                                                                                     Energy                                                                              3.3
   7. Turkiye Is Bankasi                                                                                               Financials                                                                          3.1
   8. Emaar Properties                                                                                                 Financials                                                                          3.1
   9. Turkiye Halk Bankasi                                                                                             Financials                                                                          3.0
  10. Credit Suisse International                                                                                      Financials                                                                          2.6
Total number of holdings =                           64

Asset Allocation in %
     Fund                                         Sector                                                                                                 Country
     Benchmark                                                                        50.20                                                                                                        25.58
                                   Financials                                                                                             Turkey                                                  24.55
                                                                   13.19                                                                                                                   20.36
                 Telecommunication services                                                                                         Saudi Arabia                                         19.86
                                   Industrials                     12.51                                                                  Kuwait                                             21.56
                                                                  11.61                                                                     UAE                      6.80
                                    Materials                      13.09                                                                                                    9.83
                                                         4.36                                                                              Qatar                     6.62
                                      Energy            3.48                                                                                                             8.95
                                                       2.70                                                                                Egypt                           9.87
                     Consumer Discretionary         0.35                                                                                                      2.99
                                                                                                                                           Oman              2.54
                                      Utilities      0.94                                                                                                   2.25
                                                                                                                                        Lebanon            1.91
                          Consumer Staples              3.46                                                                                            0.00
                                                                                                                                 Other countries                     6.29
                            Other Net Assets        0.00                                                                                                    2.46
                                                                                                                                Other Net Assets        0.00

     USD                             27.16
     TRY                             26.23
     KWD                             17.50
     QAR                             10.08
     AED                              8.47
     EGP                              7.49
     OMR                              3.06
     SAR                              0.00
     MAD                              0.00
     Other currencies                 0.00
Index Data Source : MSCI
Other Net Assets is comprised of pure Cash (Cash in Bank), Payables and Receivables, Unrealised Profit and Loss on Forwards/ Futures/Swaps & Options and short term investments with 1 month or
less to maturity.
0.64% of the fund was held as cash or short-term investments with 1 month or less to maturity.

Technical Information                                       ISIN                                                               LU0314587907
                                                            Bloomberg                                                          SISMEAALX
                                                            Reuters                                                            LU0314587907.LUF
Third party data is owned or licensed by the data provider and may not be reproduced or extracted and used for any other purpose without the data provider's consent. Third party data is provided
without any warranties of any kind. The data provider and issuer of the document shall have no liability in connection with the third party data. The Prospectus and/or contains
additional disclaimers which apply to the third party data.
The Schroder ISF Middle East is not within the scope of the European Union Directive 2003/48/EC (Taxation of Savings Income in the Form of Interest Payments), as implemented in Luxembourg Law.
This document does not constitute an offer to anyone, or a solicitation by anyone, to subscribe for shares of Schroder International Selection Fund (the "Company"). Nothing in this document should be
construed as advice and is therefore not a recommendation to buy or sell shares.
Subscriptions for shares of the Company can only be made on the basis of its latest prospectus and simplified prospectus together with the latest audited annual report (and subsequent unaudited
semi-annual report, if published), copies of which can be obtained, free of charge, from Schroder Investment Management (Luxembourg) S.A. 5, rue Höhenhof, L-1736 Senningerberg, Luxembourg.
The Company is a Luxembourg-registered UCITS recognised in the UK under Section 264 of the Financial Services and Markets Act 2000. There will be no right to cancel any agreements to purchase
shares under section 6.7 of the UK Financial Services Conduct of Business Sourcebook. All or most of the protection provided by the UK regulatory system does not apply to investments in the
Company and compensation will not be available under the UK Financial Services Compensation Scheme.
In accordance with the current prospectus, other than for Schroder ISF Global Property Securities, Schroder ISF Asia Pacific Property Securities, Schroder ISF European Defensive and Schroder ISF
Middle East, the Company will seek UK distributor status for all distribution A and C shares.

This document is issued by Schroder Investment Management (Luxembourg) S.A., 5, rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registered No. B 37.799. Approved for issue in the UK by
Schroder Investment Management Limited, 31, Gresham Street, London EC2V 7QA. Authorised and regulated by the Financial Services Authority.
Schroders has expressed its own views and opinions in this document and these may change.

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