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Please click to read related announcements of The Ping An of China CSI RAFI A-Share 50 ETF* (*This is a synthetic ETF):

1. Announcement and Notice on Termination, Cessation of Trading, Voluntary Delisting and Deauthorisation (24 Jul 2014)

2. Announcement of the Cessation of Trading (26 Aug 2014)

3. For reference only - Fund NAV Information (26 Aug 2014)

4. Announcement of Waiver from Strict Compliance of Certain Provisions of the UT Code (18 Sep 2014)

5. Announcement of Interim Distribution (25 Nov 2014)

6. Announcement on CGT Provision Refund
and Final Distribution
(31 May 2016)

7. Announcement and Notice of Termination, Voluntary Deauthorisation and Delisting (30 Jun 2016) 

 

  • The Ping An of China CSI RAFI A-Share 50 ETF* (*This is a synthetic ETF) (the 「A-Share 50 ETF」) is an index-tracking fund, the investment objective of which is to track the performance of the CSI RAFI 50 Index (an A Share index). The A-Share 50 ETF aims to achieve its investment objective by investing in Base Securities (each of which is a financial derivative), which tracks the performance of the constituent A Shares of the CSI RAFI 50 Index by a replication or representative sampling strategy.

 

  • Investment in the A-Share 50 ETF is not the same as an investment in the underlying A Shares of the CSI RAFI 50 Index. The A-Share 50 ETF will not invest directly in A Shares and all or substantially all of the non-cash assets shall be invested in Base Securities, which do not provide the A-Share 50 ETF any legal or equitable interest of any type in the underlying A Shares. 

 

  • The A-Share 50 ETF is exposed to the credit and counterparty risk associated with the Base Securities Issuers, and may suffer losses potentially equal to the full value of the Base Securities issued by the Base Securities Issuers if the Base Securities Issuers fail to perform their obligations under the Base Securities. Any loss would result in a reduction in the net asset value of the A-Share 50 ETF and may impair the ability of the A-Share 50 ETF to achieve its investment objective to track the CSI RAFI 50 Index. In the event of any default by the Base Securities Issuers, dealing of the units may be suspended and the units of the A-Share 50 ETF may not continue to trade.

 

  • In order to mitigate the counterparty risk in relation to the Base Securities, the Manager will obtain collateral which represents at least 100% of the A-Share 50 ETF's gross total counterparty risk exposure and will be maintained, marked to market on a daily basis with a view to ensuring that there is no uncollateralised counterparty risk exposure. However, this is subject to the risk of the collateral provider not fulfilling its obligations. There is a further risk that in the event that the Trustee may need to exercise its right against the collateral, its market value could be substantially less than the amount secured.

 

  • The units of the A-Share 50 ETF may trade at a discount or premium to the net asset value of the units.

 

  • PRC withholding tax is not currently enforced on capital gains realised by QFIIs on the sale of A Shares. There is a risk that the PRC tax authorities may seek to collect tax on capital gains without giving any prior warning, and possibly, on a retrospective basis. Any capital gains tax levied on and payable by a QFII may be passed on to the A-Share 50 ETF to the extent that the tax is attributable to its holdings of Base Securities. The Base Securities Issuers may withhold an amount equal to 10% of any gain on a Base Security on account of the PRC capital gain tax. Tax provisions are not made at the Index Fund level but are made by the Base Securities Issuers, and therefore any retrospective enforcement of capital gain tax which exceeds the amount withheld by the Base Securities Issuers may result in a substantial loss to the A-Share 50 ETF. In the worst case scenario where the assets of the A-Share 50 ETF are not sufficient to meet the tax liability, the fund may become insolvent and may have to be terminated.

 

  • The laws and regulations imposed by the PRC government on the QFII system are subject to change and may have significant adverse impact on the A-Share 50 ETF. In the worst case scenario where the Base Securities Issuers can no longer issue or maintain the Base Securities, the A-Share 50 ETF may have to be terminated.

 

  • Generally, investments in emerging markets (such as Mainland China) are subject to a greater risk of loss than investments in a developed market due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity.

 

Note: Investment involves risks and the A-Share 50 ETF may not be suitable for everyone. Investors should read the prospectus and its Product Key Facts Statement (「KFS」) as amended and supplemented from time to time (the 「Offering Documents」) carefully for further details including product features and risk factors, and should consider their own investment objectives and other circumstances before investing in the A-Share 50 ETF.


Estimated Net Asset Value

as of 2014-08-25

03:00pm (as of 2014-08-25) $ 15.30

Market Price

as of 2014-08-25

04:00pm (as of 2014-08-25) $ 16.58

Estimated Net Asset Value is indicative only and is provided on a delayed basis by AASTOCKS.com (See terms and conditions)
Market prices are provided on a delayed basis by AASTOCKS.com (See terms and conditions)


Net Asset Value

as of 2014-08-25

Net Asset Value Per Unit HK$ 15.2610
Change (HK$) HK$ -0.1719
Change (%) -1.1139%

Closing Price

as of 2014-08-25

Closing Price HK$ 16.5800
Change (HK$) HK$ -0.3000
Change (%) -1.7773%

Fund performance is calculated in HKD on NAV-to-NAV basis without dividend reinvested. Change indicates the change since the previous business day. Refer to the Prospectus for more information on determination of Net Asset Value.


Trading Information

  • Stock Code
2818
  • Exchange
Hong Kong Stock Exchange
  • Trading Board Lot
100
  • Trading Currency
HKD

Profile

as of 2014-08-25

  • Fund Inception Date
2010-05-04
  • SEHK Listing Date
2010-05-07
  • Underlying Index
CSI RAFI 50 INDEX
  • Total Net Assets('000,000)
7.63
  • Outstanding Units / Shares('000,000)
0.50
  • Management Fee
0.97%
  • Distribution Frequency (if any)
Annual

The Management Fee is a measure of the cost associated with managing the fund but excluding trustee fees and investment costs such as brokerage and Base Securities charges. For complete information on fees and charges, please refer to the Prospectus.


Dividend Record

Fund Inception Date: 2010-05-04
SEHK Listing Date: 2010-05-07

Ex-Date Record Date Payment Date Dividend Distribution (per unit)
------------

Distribution figures represent past distributions declared and paid for by the fund. There is no guarantee that any distributions will be declared in the future, or that if declared, the amount of any distribution will remain constant or increase over time.


Participating Dealers

  • Citigroup Global Markets Asia Ltd.
  • UBS Securities Hong Kong Ltd.

All dollar amounts are in HKD. All dates are in GMT+8 Time. Any exceptions are noted.
Fund Inception Date: 2011-05-04
SEHK Listing Date: 2011-05-07
Underlying Index: CSI RAFI 50 index

TOTAL RETURNS

Calendar Year Performance (%)

  201320122011201020092008
Fund -16.59+8.50-12.99-8.68#N/AN/A
CSI RAFI 50 index -10.37%+10.21-11.26-7.18#N/AN/A

Represents performance figures for each year ended 31 December, unless otherwise stated.

#Since Fund Inception Date: 4 May 2010


Cumulative Performance (%)

  YTD1 month3 months6 monthsSince Fund InceptionAnnualized Return Since Fund launch
Fund -27.52**-2.43-15.31-18.95-47.88-14.02
CSI RAFI 50 index +0.89-2.38+6.30+8.77-17.91-4.47

**Performance includes provisions deducted for Future Costs relating to termination and delisting

Fund lnception Date: 4 May 2010

Data as of 25 August 2014


Ping An of China CSI RAFI A-Share 50 ETF* (*This is a synthetic ETF) (the "A-Share 50 ETF*").

Fund performance is calculated in HKD on NAV-to-NAV basis without dividend reinvested. Index performance is price return.

The performance quoted represents past performance of the Fund. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Past performance may not be repeated and is no guide for future returns.

Investment Portfolio as of  2014-08-25

Overview

Total Net Assets HK$7,630,483 Percent Securities 121.45%
Number of Securities(1) 50 Percent Cash and Cash Equivalent -21.45%

(1) The "Number of Securities" represents the number of underlying securities held by the Fund. For the avoidance of doubt, where the Fund invests in the underlying market via Base Securities, this represents the number of securities to which the Base Securities held by the Fund are linked.


Top Holdings#

2014-08-25 (access to A Shares obtained through Base Securities)

7.91% China Merchants Bank Co., Ltd.
6.77% China Minsheng Banking Corp.,Ltd.
5.87% Ping An Insurance (Group) Company of China, Ltd.
5.37% Shanghai Pudong Development Bank Co.,Ltd.
5.02% Industrial Bank Co.,Ltd.
4.95% China State Construction Engineering Corporation Limited
4.25% CITIC Securities Company Limited
4.12% China United Network Communications Limited
3.96% SAIC Motor Corporation Limited
3.66% Bank of Communications Co., Ltd.
View All Holdings
% of Net Assets Stock Name Exchange
Ticker
Trading
Exchange
Market Price
(HKD equivalent)
Shares Held Market Value
(HKD equivalent)
2.04 Ping An Bank Co., Ltd. 000001 China 12.83 12,092 155,197.13
3.21 China Vanke Co.,Ltd. 000002 China 11.51 21,184 243,928.90
1.31 Midea Group Co., Ltd. 000333 China 28.13 3,543 99,676.10
2.12 Gree Electric Appliances,Inc.of Zhuhai 000651 China 36.87 4,391 161,895.70
1.38 Hebei Iron and Steel Company Limited 000709 China 2.83 37,729 106,713.07
1.18 Shanxi Taigang Stainless Steel Co.,Ltd. 000825 China 3.57 25,248 90,137.42
1.21 Wuliangye Yibin Co.,Ltd. 000858 China 23.72 3,887 92,203.26
5.37 Shanghai Pudong Development Bank Co.,Ltd. 600000 China 11.87 34,581 410,364.10
1.07 Wuhan Iron And Steel Company Limited 600005 China 2.75 29,227 80,461.51
1.8 Huaneng Power International Inc. 600011 China 7.39 18,611 137,564.65
2.03 Hua Xia Bank Co.,Ltd. 600015 China 10.52 14,719 154,868.67
6.77 China Minsheng Banking Corp.,Ltd. 600016 China 7.89 65,325 515,702.07
0.55 Shanghai International Port (Group) Co.,Ltd. 600018 China 5.88 7,178 42,228.84
2.52 Baoshan Iron and Steel Co.,Ltd. 600019 China 5.56 34,498 191,679.65
3.1 China Petroleum and Chemical Corporation 600028 China 6.83 34,728 237,049.70
4.25 CITIC Securities Company Limited 600030 China 16.08 20,231 325,272.77
7.91 China Merchants Bank Co., Ltd. 600036 China 13.30 45,252 601,843.07
1.58 Poly Real Estate Group Co., Ltd. 600048 China 7.08 17,073 120,830.91
4.12 China United Network Communications Limited 600050 China 4.31 72,421 312,261.51
3.96 SAIC Motor Corporation Limited 600104 China 21.04 14,351 301,993.39
1.28 Kweichow Moutai Co.,Ltd. 600519 China 199.56 488 97,385.29
1.1 Anhui Conch Cement Company Limited 600585 China 21.90 3,810 83,432.06
1.31 GD Power Development Co.,Ltd. 600795 China 2.90 34,966 101,535.46
1.67 China Yangtze Power Co.,Ltd. 600900 China 8.93 14,291 127,550.09
2.52 Daqin Railway Co., Ltd. 601006 China 9.11 21,033 191,689.82
2.9 China Shenhua Energy Company Limited 601088 China 18.69 11,867 221,825.63
0.47 Air China Limited 601111 China 4.68 7,741 36,199.27
5.02 Industrial Bank Co.,Ltd. 601166 China 12.87 29,783 383,378.91
1.96 Bank of Beijing Co., Ltd. 601169 China 8.89 16,818 149,469.84
2.88 China Railway Construction Corporation Limited 601186 China 6.42 34,213 219,771.75
3.32 Agricultural Bank of China Limited 601288 China 3.09 81,661 252,528.05
0.91 China CNR Corporation Limited 601299 China 6.36 10,883 69,224.36
5.87 Ping An Insurance (Group) Company of China, Ltd. 601318 China 53.11 8,442 448,365.18
3.66 Bank of Communications Co., Ltd. 601328 China 5.29 53,023 280,611.98
2.28 China Railway Group Limited 601390 China 3.56 48,730 173,357.51
3.11 Industrial and Commercial Bank of China Limited 601398 China 4.40 53,689 236,218.10
2.38 China Pacific Insurance (Group) Co., Ltd. 601601 China 24.41 7,427 181,310.30
1 Metallurgical Corporation of China Ltd. 601618 China 2.41 31,600 76,269.01
1.01 China Life Insurance Company Limited 601628 China 18.76 4,125 77,366.44
4.95 China State Construction Engineering Corporation Limited 601668 China 4.00 93,797 374,952.18
1.23 Power Construction Corporation of China,Ltd. 601669 China 3.33 28,107 93,631.11
0.95 CSR Corporation Limited 601766 China 6.45 11,231 72,426.18
1.43 China Communications Construction Company Limited 601800 China 5.12 21,303 108,992.09
2.58 China Everbright Bank Company Limited 601818 China 3.37 59,110 199,138.65
2.12 PetroChina Company Limited 601857 China 9.97 16,183 161,321.42
0.54 China Coal Energy Company Limited 601898 China 5.41 7,586 41,005.41
2.65 China Construction Bank Corporation 601939 China 5.09 39,496 201,079.57
1.41 Bank of China Limited 601988 China 3.39 31,605 107,270.27
0.69 Datang International Power Generation Co., Ltd. 601991 China 4.80 11,034 52,985.39
0.77 China Citic Bank Corporation Limited 601998 China 5.41 10,776 58,248.65

Total allocation percentages shown in the Overview and All Holdings tables may not equal 100% due to rounding or omissions of holdings of less than 1%. Information on certain fund holdings of less than 1% may not be widely available and hence may not be included in the table of holdings shown.

The holdings shown above represent the Chinese stocks to which the Base Securities held by the Fund are linked.

# As a percentage of NAV. Total may not equal to 100% due to cash holdings.

Index Value

as of 2014-08-25

Underlying Index CSI RAFI 50 INDEX
Currency (Local) CNY
Closing Level (Local) 1,913
Closing Level (HKD equivalent) 2,404
Change (HKD equivalent) -21.99
Change % (HKD equivalent) -0.91%
Exchange Rate (Local / HKD) 0.795500

Index returns are for illustrative purposes only and are not indicative of future results. Index returns do not reflect any management fees, transaction costs or expenses.
Change indicates the change since the previous business day's closing index level.
Source: China Securities Index, Reuters. Exchange Rates as of 9:00am Beijing Time (Source: Reuters).

The following table describes the approximate net exposure to each Base Securities Issuer as a percentage of NAV after collateral
as of 2014-08-25

Base Securities
Issuer
Collateral Provider Collateral
Type
Relevant Stock
Exchange
Gross
Exposure
Before Haircut
Collateral Exposure
After Haircut
Collateral Exposure
Citigroup Global Markets Holdings Inc. Citigroup Global Markets Limited N/A N/A 0.0% 0.0% 0.0%
UBS AG London Branch UBS AG London Branch Equity HKEx 121.2% 147.8% 123.2%

Exposures are effective on T+1 basis (where T = trade date) and involve settlement, operational and realisation risk. Collateral involves risks and there can be no assurance that such measures will avert loss to the fund. Exposures are based on information provided to the Manager.


Overall collateralisation level after haircut (expressed as a percentage % of the fund's NAV, as of 2014-08-22): 123.19%  

Ping An of China CSI RAFI A-Share 50 ETF* (2818) ( * This is a synthetic ETF )

1.Termination ReportDownloadFile Size: 370k
2.Announcement and Notice of Termination, Voluntary Deauthorisation and DelistingDownloadFile Size: 32k
3.Announcement on CGT Provision Refund and Final DistributionDownloadFile Size: 57k
4.Announcement of Interim DistributionDownloadFile Size: 38k
5.Announcement of Waiver from Strict Compliance of Certain Provisions of the UT CodeDownloadFile Size: 171k
6.Announcement Of The Cessation Of TradingDownloadFile Size: 174k
7.Final Reminder - Announcement - Proposed Termination, Cessation of Trading, Voluntary Delisting and DeauthorisationDownloadFile Size: 362k
8.Third Reminder - Announcement - Proposed Termination, Cessation of Trading, Voluntary Delisting and DeauthorisationDownloadFile Size: 362k
9.Second Reminder - Announcement - Proposed Termination, Cessation of Trading, Voluntary Delisting and DeauthorisationDownloadFile Size: 362k
10.First Reminder - Announcement - Proposed Termination, Cessation of Trading, Voluntary Delisting and DeauthorisationDownloadFile Size: 362k
11.Announcement and Notice of the Proposed Termination, Cessation of Trading, Voluntary Delisting and DeauthorisationDownloadFile Size: 362k
12.ProspectusDownloadFile Size: 2461k
13.Announcement and AddendumDownloadFile Size: 136k
14.Product Key FactsDownloadFile Size: 310k
15.Annual Report (12-2015)DownloadFile Size: 317k
16.Semi-annual Report (06-2015)DownloadFile Size: 348k
17.Collateral Report (22-08-2014)DownloadFile Size: 577k
18.Fund NAV Information (26-08-2014)DownloadFile Size: 143k

All dollar amounts are in HKD. All dates are in GMT+8 Time. Any exceptions are noted.

Important Information: Investment involves risks and the A-Share 50 ETF may not be suitable for everyone. Investors should read the prospectus and Product Key Facts Statement ("KFS") of the A-Share 50 ETF (the “Offering Documents”) carefully for further details including product features and risk factors, and consider their own investment objectives and other circumstances before investing in the A-Share 50 ETF. Investors should not only base on this material alone to make investment decisions. This material has not been reviewed by the SFC. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. Issued by Ping An of China Asset Management (Hong Kong) Co. Limited.