{"success":true,"data":{"pressRelease":{"id":"125462","rtpr_id":"nPRrO0785a","ticker":"AWEM","exchange":"LSE","all_tickers":["AWEM"],"title":"REG-Ashoka WhiteOak Emerging Markets Trust Plc: Monthly Update - July 2026","author":"PR Newswire","published_at":"2026-08-24T06:00:26.241Z","article_body":"24 August 2026\n\n \n\nAshoka WhiteOak Emerging Markets Trust plc\n\n(the `Company')\n\n \n\nMonthly Update - July 2026\n\n \n\nThe Company's monthly factsheet as at 31 July 2026 is now available:          \n                       https://awemtrust.com/factsheet/\n\n \n\nThe Fund was down 5.45% in July 2026, underperforming the benchmark by 1.05%.\nThe key contributors include Alibaba Group (+24.3%), Tencent (+9.0%), and\nKusumgar (+67.6%), whereas SK hynix (-30.5%), Samsung Electronics (-15.8%),\nand Delta Electronics (-18.2%) were the key detractors.\n\n \n\nMarket Review\n\n \n\nIn July 2026, the MSCI EM index was down 4.41%. It underperformed other global\nindices like the US equities (S&P 500) and MSCI World which returned -1.7% and\n-1.1% respectively.\n\n \n\nFor the month, Consumer Discretionary and Energy outperformed, while Info Tech\nand Industrials underperformed. Large caps underperformed Mid and Small caps\nthis month. Among major EM markets, Indonesia and China outperformed, while\nSouth Korea and Taiwan underperformed.\n\n \n\nTop 10 Holdings\n\n \n\n Top 10 holdings (as at 31 July 2026)  Country      % of NAV  \n 1. TSMC                               Taiwan       11.8      \n 1. Samsung Electronics                South Korea  8.1       \n 1. SK Hynix                           South Korea  6.0       \n 1. Tencent Holdings                   China/HK     3.5       \n 1. Alibaba Group Holding              China/HK     2.2       \n 1. Delta Electronics                  Taiwan       1.4       \n 1. MediaTek Inc                       Taiwan       1.3       \n 1. OCBC                               Singapore    1.2       \n 1. China Merchants Bank               China/HK     1.0       \n 1. Hong Kong Exchanges                China/HK     1.0       \n Total                                              37.5%     \n\n \n\nKey Contributors\n\n July 2026   Key Contributors  Ending   Weight (%)  Total   Return (%)  Contribution to   Return (bps)  \n Alibaba Group                 2.2                  +24.3               +41                             \n Tencent Holdings              3.5                  +9.0                +29                             \n Kusumgar                      0.5                  +67.6               +19                             \n OCBC                          1.2                  +16.8               +16                             \n China Merchants Bank          1.0                  +14.7               +13                             \n\n \n\n \n\nKey Detractors\n\n July 2026   Key Detractors  Ending   Weight (%)  Total   Return (%)  Contribution to   Return (bps)  \n SK hynix                    6.0                  -30.5               -255                            \n Samsung Electronics         8.1                  -15.8               -139                            \n Delta Electronics           1.4                  -18.2               -32                             \n MediaTek                    1.3                  -18.1               -29                             \n TSMC                        11.8                 -2.2                -27                             \n\nSource: Factset. Past performance does not predict future returns. The\nperformance calculation is based on GBP. Currency fluctuations will also\naffect the value of an investment.\n\n \n\nAbout                                         Ashoka WhiteOak Emerging Markets\nTrust plc\n\n \n\nAshoka WhiteOak Emerging Markets Trust plc (AWEMT) is a UK investment trust\nseeking to achieve long-term capital appreciation primarily through investing\nin a multi-cap portfolio of equities that provide exposure to global emerging\nmarkets. Advised by White Oak Capital Pte. Ltd, founded by Prashant Khemka\nwith leading Emerging Markets investment experience.                     \nWhite Oak Capital Group has delivered an exceptional track record for its\nother strategies, and has £5.97 billion in assets under management or\nadvisory          4          . Analytical approach integral to disciplined\nresearch process underpinned by proprietary frameworks OpcoFinco™ for\nvaluation and ABLEx™ for ESG research.                      The team at\nWhiteOak believes that emerging markets present potential for higher alpha. EM\nmarkets remain under-researched and inefficient. AWEM leverages WhiteOak's\ninvestment approach to capture the higher alpha potential in these markets.   \n                  No fixed management fee. Manager remuneration is aligned\nwith alpha generation and hence shareholders' interest.                     \nThe Investment Manager is remunerated solely as a function of outperformance\nover the benchmark.\n\n \n\n4                     Data as at 31 July 2026. AUM data refers to aggregate\nassets under management or investment advisory for WhiteOak Group.\n\n \n\nFurther Information\n\n \n\nFor further information on the Company's investment strategy and portfolio\nconstruction approach as well as details of the portfolio market cap, regional\nand sector composition please refer to the latest factsheet.\n\n \n\nInvestment Objective\n\n \n\nTo achieve long-term capital appreciation, primarily investing in equity and\nequity-related securities that provide exposure to global emerging markets.\n\n \n\nSummary of Investment Policy\n\n \n\nThe Company shall invest primarily in securities admitted to trading on any\nstock exchange (which may include stock exchanges in Developed Markets) that\nprovide exposure to companies that are domiciled in Global Emerging Markets\n(EMs), or that are domiciled in Developed Markets but at the time of\ninvestment, derive a majority of their economic value, revenues or profits\nfrom, or whose assets or cost base are mainly located in EMs.\n\n \n\nThe Company's LEI is 254900Z4X5Y7NTODRI75\n\n \n\n \n\n- Ends -\n\nFor further information:\n\n \n\nCompany Secretary\n\n AWEMT.Cosec@jtcgroup.com  Tel: +44 (0) 20 7409 0181  \n                                                      \n                                                      \n\nAshoka WhiteOak Capital Pte. Ltd\n\n Prashant Khemka  Hiren Dasani  Via Burson Buchanan  \n Fadrique Balmaseda                                  \n Ben Hayward                                         \n\n \n\nMarex\n\n Mark Thompson  Tel: +44 (0) 20 7016 6711  \n Eddie Nissen   Tel: +44 (0) 20 7016 6713  \n\n \n\nBurson Buchanan\n\n Henry Harrison-Topham  Tel: +44 (0) 20 7466 5000  \n Henry Wilson           AWEM@buchanancomms.co.uk   \n                                                   \n\n \n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPRrO0785a","title":"REG-Ashoka WhiteOak Emerging Markets Trust Plc: Monthly Update - July 2026","author":"PR Newswire","ticker":"AWEM","created":"2026-08-24T06:00:26.241Z","tickers":["AWEM"],"exchange":"LSE","article_body":"24 August 2026\n\n \n\nAshoka WhiteOak Emerging Markets Trust plc\n\n(the `Company')\n\n \n\nMonthly Update - July 2026\n\n \n\nThe Company's monthly factsheet as at 31 July 2026 is now available:          \n                       https://awemtrust.com/factsheet/\n\n \n\nThe Fund was down 5.45% in July 2026, underperforming the benchmark by 1.05%.\nThe key contributors include Alibaba Group (+24.3%), Tencent (+9.0%), and\nKusumgar (+67.6%), whereas SK hynix (-30.5%), Samsung Electronics (-15.8%),\nand Delta Electronics (-18.2%) were the key detractors.\n\n \n\nMarket Review\n\n \n\nIn July 2026, the MSCI EM index was down 4.41%. It underperformed other global\nindices like the US equities (S&P 500) and MSCI World which returned -1.7% and\n-1.1% respectively.\n\n \n\nFor the month, Consumer Discretionary and Energy outperformed, while Info Tech\nand Industrials underperformed. Large caps underperformed Mid and Small caps\nthis month. Among major EM markets, Indonesia and China outperformed, while\nSouth Korea and Taiwan underperformed.\n\n \n\nTop 10 Holdings\n\n \n\n Top 10 holdings (as at 31 July 2026)  Country      % of NAV  \n 1. TSMC                               Taiwan       11.8      \n 1. Samsung Electronics                South Korea  8.1       \n 1. SK Hynix                           South Korea  6.0       \n 1. Tencent Holdings                   China/HK     3.5       \n 1. Alibaba Group Holding              China/HK     2.2       \n 1. Delta Electronics                  Taiwan       1.4       \n 1. MediaTek Inc                       Taiwan       1.3       \n 1. OCBC                               Singapore    1.2       \n 1. China Merchants Bank               China/HK     1.0       \n 1. Hong Kong Exchanges                China/HK     1.0       \n Total                                              37.5%     \n\n \n\nKey Contributors\n\n July 2026   Key Contributors  Ending   Weight (%)  Total   Return (%)  Contribution to   Return (bps)  \n Alibaba Group                 2.2                  +24.3               +41                             \n Tencent Holdings              3.5                  +9.0                +29                             \n Kusumgar                      0.5                  +67.6               +19                             \n OCBC                          1.2                  +16.8               +16                             \n China Merchants Bank          1.0                  +14.7               +13                             \n\n \n\n \n\nKey Detractors\n\n July 2026   Key Detractors  Ending   Weight (%)  Total   Return (%)  Contribution to   Return (bps)  \n SK hynix                    6.0                  -30.5               -255                            \n Samsung Electronics         8.1                  -15.8               -139                            \n Delta Electronics           1.4                  -18.2               -32                             \n MediaTek                    1.3                  -18.1               -29                             \n TSMC                        11.8                 -2.2                -27                             \n\nSource: Factset. Past performance does not predict future returns. The\nperformance calculation is based on GBP. Currency fluctuations will also\naffect the value of an investment.\n\n \n\nAbout                                         Ashoka WhiteOak Emerging Markets\nTrust plc\n\n \n\nAshoka WhiteOak Emerging Markets Trust plc (AWEMT) is a UK investment trust\nseeking to achieve long-term capital appreciation primarily through investing\nin a multi-cap portfolio of equities that provide exposure to global emerging\nmarkets. Advised by White Oak Capital Pte. Ltd, founded by Prashant Khemka\nwith leading Emerging Markets investment experience.                     \nWhite Oak Capital Group has delivered an exceptional track record for its\nother strategies, and has £5.97 billion in assets under management or\nadvisory          4          . Analytical approach integral to disciplined\nresearch process underpinned by proprietary frameworks OpcoFinco™ for\nvaluation and ABLEx™ for ESG research.                      The team at\nWhiteOak believes that emerging markets present potential for higher alpha. EM\nmarkets remain under-researched and inefficient. AWEM leverages WhiteOak's\ninvestment approach to capture the higher alpha potential in these markets.   \n                  No fixed management fee. Manager remuneration is aligned\nwith alpha generation and hence shareholders' interest.                     \nThe Investment Manager is remunerated solely as a function of outperformance\nover the benchmark.\n\n \n\n4                     Data as at 31 July 2026. AUM data refers to aggregate\nassets under management or investment advisory for WhiteOak Group.\n\n \n\nFurther Information\n\n \n\nFor further information on the Company's investment strategy and portfolio\nconstruction approach as well as details of the portfolio market cap, regional\nand sector composition please refer to the latest factsheet.\n\n \n\nInvestment Objective\n\n \n\nTo achieve long-term capital appreciation, primarily investing in equity and\nequity-related securities that provide exposure to global emerging markets.\n\n \n\nSummary of Investment Policy\n\n \n\nThe Company shall invest primarily in securities admitted to trading on any\nstock exchange (which may include stock exchanges in Developed Markets) that\nprovide exposure to companies that are domiciled in Global Emerging Markets\n(EMs), or that are domiciled in Developed Markets but at the time of\ninvestment, derive a majority of their economic value, revenues or profits\nfrom, or whose assets or cost base are mainly located in EMs.\n\n \n\nThe Company's LEI is 254900Z4X5Y7NTODRI75\n\n \n\n \n\n- Ends -\n\nFor further information:\n\n \n\nCompany Secretary\n\n AWEMT.Cosec@jtcgroup.com  Tel: +44 (0) 20 7409 0181  \n                                                      \n                                                      \n\nAshoka WhiteOak Capital Pte. Ltd\n\n Prashant Khemka  Hiren Dasani  Via Burson Buchanan  \n Fadrique Balmaseda                                  \n Ben Hayward                                         \n\n \n\nMarex\n\n Mark Thompson  Tel: +44 (0) 20 7016 6711  \n Eddie Nissen   Tel: +44 (0) 20 7016 6713  \n\n \n\nBurson Buchanan\n\n Henry Harrison-Topham  Tel: +44 (0) 20 7466 5000  \n Henry Wilson           AWEM@buchanancomms.co.uk   \n                                                   \n\n \n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-08-24T06:00:26.300201696Z","server_sent_at_ms":1787551226300},"received_at":"2026-08-24T06:00:26.350Z","source_url":null},"analysis":{"id":"114415","press_release_id":"125462","analysis_json":{"industry":{"label":"Capital Markets","sector":"Financials"},"redFlags":[],"eventType":"operations_update","narrative":"Ashoka WhiteOak Emerging Markets Trust plc reported a negative return of 5.45% for July 2026, underperforming its benchmark by 1.05%.\n\nKey detractors included SK hynix and Samsung Electronics, while Alibaba Group and Tencent Holdings were notable positive contributors during the month.\n\nThe Trust's advisor, White Oak Capital Group, reported aggregate assets under management of £5.97 billion.","sentiment":"bearish","agentHooks":{"shouldPost":false,"suggestedAngle":"Monthly underperformance report; low materiality."},"keyFigures":{"customDimensions":{"group_aum_gbp":"£5.97 billion","msci_em_return":"-4.41%","july_nav_return":"-5.45%","benchmark_underperformance":"-1.05%"}},"quotedText":"No fixed management fee.","namedEntities":{"people":[{"name":"Prashant Khemka","role":"Founder, White Oak Capital"},{"name":"Hiren Dasani","role":"Ashoka WhiteOak Capital"},{"name":"Fadrique Balmaseda","role":"Ashoka WhiteOak Capital"},{"name":"Ben Hayward","role":"Ashoka WhiteOak Capital"},{"name":"Mark Thompson","role":"Marex"},{"name":"Eddie Nissen","role":"Marex"},{"name":"Henry Harrison-Topham","role":"Burson Buchanan"},{"name":"Henry Wilson","role":"Burson Buchanan"}],"products":["OpcoFinco™","ABLEx™"],"companies":[{"name":"Ashoka WhiteOak Emerging Markets Trust plc","ticker":"AWEM"},{"name":"Alibaba Group Holding","relationship":"holding"},{"name":"Tencent Holdings","relationship":"holding"},{"name":"Kusumgar","relationship":"holding"},{"name":"SK hynix","relationship":"holding"},{"name":"Samsung Electronics","relationship":"holding"},{"name":"Delta Electronics","relationship":"holding"},{"name":"TSMC","relationship":"holding"},{"name":"MediaTek Inc","relationship":"holding"},{"name":"OCBC","relationship":"holding"},{"name":"China Merchants Bank","relationship":"holding"},{"name":"Hong Kong Exchanges","relationship":"holding"},{"name":"White Oak Capital Group","relationship":"investment advisor"},{"name":"White Oak Capital Pte. 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While the fund underperformed the benchmark in July, this is standard periodic reporting and does not constitute a material change to the company's business or structure."},"tickerRelevance":{"others":[],"primary":"AWEM"},"globalImportance":10,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"routine_monthly_update"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bearish","material_impact_score":1,"narrative":"Ashoka WhiteOak Emerging Markets Trust plc reported a negative return of 5.45% for July 2026, underperforming its benchmark by 1.05%.\n\nKey detractors included SK hynix and Samsung Electronics, while Alibaba Group and Tencent Holdings were notable positive contributors during the month.\n\nThe Trust's advisor, White Oak Capital Group, reported aggregate assets under management of £5.97 billion.","key_figures":{"customDimensions":{"group_aum_gbp":"£5.97 billion","msci_em_return":"-4.41%","july_nav_return":"-5.45%","benchmark_underperformance":"-1.05%"}},"named_entities":{"people":[{"name":"Prashant Khemka","role":"Founder, White Oak Capital"},{"name":"Hiren Dasani","role":"Ashoka WhiteOak Capital"},{"name":"Fadrique Balmaseda","role":"Ashoka WhiteOak Capital"},{"name":"Ben Hayward","role":"Ashoka WhiteOak Capital"},{"name":"Mark Thompson","role":"Marex"},{"name":"Eddie Nissen","role":"Marex"},{"name":"Henry Harrison-Topham","role":"Burson Buchanan"},{"name":"Henry Wilson","role":"Burson Buchanan"}],"products":["OpcoFinco™","ABLEx™"],"companies":[{"name":"Ashoka WhiteOak Emerging Markets Trust plc","ticker":"AWEM"},{"name":"Alibaba Group Holding","relationship":"holding"},{"name":"Tencent Holdings","relationship":"holding"},{"name":"Kusumgar","relationship":"holding"},{"name":"SK hynix","relationship":"holding"},{"name":"Samsung Electronics","relationship":"holding"},{"name":"Delta Electronics","relationship":"holding"},{"name":"TSMC","relationship":"holding"},{"name":"MediaTek Inc","relationship":"holding"},{"name":"OCBC","relationship":"holding"},{"name":"China Merchants Bank","relationship":"holding"},{"name":"Hong Kong Exchanges","relationship":"holding"},{"name":"White Oak Capital Group","relationship":"investment advisor"},{"name":"White Oak Capital Pte. 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