Pzena Emerging Markets Value P - Managed Fund

Fund Objective

Beginning with a universe of 1000 largest companies from non-developed countries, Pzena conducts fundamental research on companies considered the most undervalued based on price relative to normalised earnings. Co-Portfolio Managers construct a portfolio of deeply undervalued businesses, requiring unanimous consent.

Fund Strategy

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	6.44%	8.63%	18.02%	30.68%	25.9%	-%	-%	-%
Growth return	2.33%	10.03%	19.15%	26.93%	19.73%	-%	-%	-%
Income return	4.11%	-1.4%	-1.13%	3.75%	6.17%	-%	-%	-%
Market index (MSCI EM NR AUD)
Total return	1.28%	4.09%	13.88%	24.01%	21.21%	17.05%	7.28%	9.37%

As at 31 Jan 2026. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Pzena Emerging Markets Value P

International Equities: 100%

Australian Equities: 0%

Cash: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Average Allocation of Peers

International Equities: 92.26%

Australian Equities: 5.32%

Cash: 2.33%

Property & Infrastructure: 0.08%

Fixed Interest: 0.02%

General Information

Fund Details

Type	Description
Fund Name	Pzena Emerging Markets Value P
APIR Code	ETL6693AU
Sector/Asset Class	Equity Emerging Markets
Morningstar Rating	Not Rated
Legal Structure	Investment Fund
Fund Inception	31 Oct 2023
Fund Size	$534789707 million (as at 18 Feb 2026)
Entry Price	$1.5471 (as at 18 Feb 2026)
Exit Price	$1.5317 (as at 18 Feb 2026)
Fund Status	Open

Offer information

Type	Description
MER	0.77% (as at 5 Jun 2025)
Indirect Cost Ratio (ICR)	0.87% (as at 30 Jun 2025)
Minimum initial investment	$25,000
Minimum additional investments	$1,000.00

Top 10 holdings (as at 31 Dec 2025)

Holding (as at 31 Dec 2025)	Type	% of Portfolio
Samsung Electronics Co Ltd	Equity	5.95%
Login now to view the complete list of holdings.

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FAQs about the Pzena Emerging Markets Value P

What is the objective of the Pzena Emerging Markets Value P managed fund?

The objective of the Pzena Emerging Markets Value P managed fund is Beginning with a universe of 1000 largest companies from non-developed countries, Pzena conducts fundamental research on companies considered the most undervalued based on price relative to normalised earnings. Co-Portfolio Managers construct a portfolio of deeply undervalued businesses, requiring unanimous consent.

What is the strategy for the Pzena Emerging Markets Value P managed fund?

The strategy of the Pzena Emerging Markets Value P managed fund is Beginning with a universe of 1000 largest companies from non-developed countries, Pzena conducts fundamental research on companies considered the most undervalued based on price relative to normalised earnings. Co-Portfolio Managers construct a portfolio of deeply undervalued businesses, requiring unanimous consent.

What is the APIR code of the Pzena Emerging Markets Value P managed fund?

The APIR code of the Pzena Emerging Markets Value P managed fund is ETL6693AU.

What was Pzena Emerging Markets Value P’s total return last month?

Pzena Emerging Markets Value P’s total return last month was 6.44%. This was made up of a growth return of 2.33% and an income return of 4.11%. These returns were calculated as at 31 Jan 2026.

What was Pzena Emerging Markets Value P’s total return for the last three months?

Pzena Emerging Markets Value P’s total return for the last three months was 8.63%. This was made up of a growth return of 10.03% and an income return of -1.4%%. These returns were calculated as at 31 Jan 2026.

What is Pzena Emerging Markets Value P’s one-year total return?

Pzena Emerging Markets Value P’s one-year total return is 30.68%. This was made up of a growth return of 26.93% and an income return of 3.75%. These returns were calculated as at 31 Jan 2026.

What is Pzena Emerging Markets Value P’s three-year total return?

Pzena Emerging Markets Value P’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 Jan 2026.

What is the asset allocation of the Pzena Emerging Markets Value P managed fund?

The asset allocation of the Pzena Emerging Markets Value P managed fund is :

International Equities: 100%

Australian Equities: 0%

Cash: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

What sector/asset class does the Pzena Emerging Markets Value P managed fund belong to?

The Pzena Emerging Markets Value P managed fund belongs to the Equity Emerging Markets sector/asset class.

What is the size of the Pzena Emerging Markets Value P managed fund?

As at 18 Feb 2026, the size of the Pzena Emerging Markets Value P managed fund was $534789707 million.

What is the inception date of the Pzena Emerging Markets Value P managed fund?

The Pzena Emerging Markets Value P managed fund has an inception date of 31 Oct 2023.

What is the current entry price of the Pzena Emerging Markets Value P managed fund?

The current entry price of the Pzena Emerging Markets Value P managed fund is $1.5471 per unit and the current exit price is $1.5317 per unit (as at 18 Feb 2026).

What is the current exit price of the Pzena Emerging Markets Value P managed fund?

The current exit price of the Pzena Emerging Markets Value P managed fund is $1.5317 per unit and the current entry price is $1.5471 per unit (as at 18 Feb 2026).

What is the minimum investment amount for the Pzena Emerging Markets Value P managed fund?

The minimum initial investment amount for the Pzena Emerging Markets Value P managed fund is $25,000. Minimum additional investment is $1000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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