Ping An of China Asset Management Fund - China A-Shares AI Multi-Factor Fund(PACAMF-CAAIMFF) - Ping An of China Asset Management (Hong Kong) Company Limited

Hong Kong Authorized UCITS

Ping An of China Asset Management Fund -

China A-Shares AI Multi-Factor Fund

Important Information
Overview
Performance
NAV History
Dividend Distribution
Documents & Notices

Risk Disclosure

Important information: The Fund mainly invests in A-Shares. The Fund uses multi-factor models and advanced artificial intelligence as part of its stock selection process. The Fund is subject to the key risks associated with equities, geographic concentration in Mainland China, artificial intelligence and RMB. The Fund may invest in A-Shares via the Stock Connect and QFII, which is subject amongst others to quota limitations, suspension risk and operational risks.

The Fund's net derivative exposure may be up to 50% of the Sub-Fund's net asset value. The use of financial derivative instruments may involve additional risks.

You should not make investment decision on the basis of this marketing material alone. Please read the Hong Kong Offering Documents for details and risk factors.

Investors are responsible for their investment decisions and should ensure that the intermediary has advised on Sub-Fund's suitability and consistency with their investment objective. If in doubt, please seek independent financial and professional advice.

Fund Information

Fund Manager	Ping An of China Asset Management (Hong Kong) Co. Ltd
Fund Inception	14/11/2019
Fund Size	CNH 146.7 million (30/04/2025)
Base Currency	CNH
NAV (22/05/2025)	RE – USD – Unhedged (R) USD 68.18 RE – CNH – Unhedged (R) CNH 75.60 S – CNH- Unhedged (R) CNH 108.27
Dealing Frequency	Daily (Business Day in Luxembourg, mainland China, and Hong Kong) except any day on which Stock Connect is closed for trading
Dividend Policy	No Distribution to Shareholders

Fund Objective
The Fund aims to achieve stable excess returns above CSI 300 Total Return Index as the benchmark.

Fund Strategy
The Fund will primarily invest at least 70% of its net assets in A-Shares of companies issued in the People's Republic of China ("PRC") and listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange ("China A-Shares") via the qualified foreign institutional investor ("QFII") regime and/or the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Programs ("Stock Connect"). The Fund may invest up to 50% of its net assets in China A-Shares listed on the ChiNext market and/or the Science and Technology Innovation Board (the "STAR Board"). The Fund may invest below 10% of its net assets in ETFs which track the performance of the CSI 300 Total Return Index. The Fund employs multi-factor models to construct a well-diversified equity portfolio of China A-shares, as well as, to a limited extent, ETFs (subject to the 10% of net assets limit set out above), cash, money market instruments and fixed deposits. Advanced artificial intelligence (AI) techniques are applied to (i) derive factors from aggregated raw financial data, which include fundamental data (such as P/E ratio, earnings per share, return on equity) and trading data (such as price, volume, volatility and momentum); and (ii) calculate the alpha score of individual securities, so that the Investment Manager may optimise the Fund's portfolio (i.e. by maximizing the weighted sum of alpha score of stocks in the portfolio subject to relevant constraints, such as diversification requirements). The AI techniques used by the Fund include: (i) Lasso Regression which is an advanced version of traditional regression with improved prediction accuracy by removing unnecessary variables; (ii) Gradient Boosting, which is a technique that produces a prediction model in the form of decision trees; and (iii) Deep Neural Network, which is a machine learning methodology that mimicks the neuro behaviour in the human brain The Fund may use financial derivative instruments for investment, hedging and efficient portfolio management purposes.

Fund Strategy

The Fund will primarily invest at least 70% of its net assets in A-Shares of companies issued in the People's Republic of China ("PRC") and listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange ("China A-Shares") via the qualified foreign institutional investor ("QFII") regime and/or the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Programs ("Stock Connect"). The Fund may invest up to 50% of its net assets in China A-Shares listed on the ChiNext market and/or the Science and Technology Innovation Board (the "STAR Board"). The Fund may invest below 10% of its net assets in ETFs which track the performance of the CSI 300 Total Return Index.

The Fund employs multi-factor models to construct a well-diversified equity portfolio of China A-shares, as well as, to a limited extent, ETFs (subject to the 10% of net assets limit set out above), cash, money market instruments and fixed deposits. Advanced artificial intelligence (AI) techniques are applied to (i) derive factors from aggregated raw financial data, which include fundamental data (such as P/E ratio, earnings per share, return on equity) and trading data (such as price, volume, volatility and momentum); and (ii) calculate the alpha score of individual securities, so that the Investment Manager may optimise the Fund's portfolio (i.e. by maximizing the weighted sum of alpha score of stocks in the portfolio subject to relevant constraints, such as diversification requirements).

The AI techniques used by the Fund include:
(i) Lasso Regression which is an advanced version of traditional regression with improved prediction accuracy by removing unnecessary variables;
(ii) Gradient Boosting, which is a technique that produces a prediction model in the form of decision trees; and
(iii) Deep Neural Network, which is a machine learning methodology that mimicks the neuro behaviour in the human brain

The Fund may use financial derivative instruments for investment, hedging and efficient portfolio management purposes.

General Information
Minimum Initial Investment Amount:	Class RE Shares USD 10,000
Minimum Holding Amount:	Class RE Shares USD 5,000
Minimum Subsequent Investment Amount:	Class RE Shares USD 5,000
Minimum Redemption Amount:	Class RE Shares USD 5,000
Subscription Fee:	Up to 5.0%
Switching Fee:	Nil (Shareholders may request for the end of a month switching of their shares from one Class to the same Class of another Sub-Fund)
Redemption Fee:	Nil
Management Fee:	1.50%
Financial Year End:	31 December
Management Company:	Carne Global Fund Managers (Luxembourg) S.A.
Custodian & Administrator:	HSBC Continental Europe, Luxembourg

Codes
ISIN Codes	RE – USD – Unhedged (R) LU2069555972 RE – USD – Hedged (R) LU2069556194 RE – CNH – Unhedged (R) LU2069568876

- Dividend (ex-date)

RE – USD – Unhedged (R) : Calendar Year Performance (%)
2021	2022	2023	2024	Since Fund Launch
0.51%	-25.46%	-16.01%	7.00%	-31.82%

RE – CNH – Unhedged (R) : Calendar Year Performance (%)
2021	2022	2023	2024	Since Fund Launch
-1.73%	-18.90%	-13.48%	10.27%	-24.40%

S – CNH- Unhedged (R) : Calendar Year Performance (%)
2019	2020	2021	2022	2023	2024	Since Fund Launch
5.28%	27.71%	-0.53%	-17.63%	-12.15%	11.99%	9.11%

Date	NAV (RE – USD – Unhedged (R))
22/05/2025	68.1810
21/05/2025	68.2523
20/05/2025	67.7459
19/05/2025	67.4767
16/05/2025	67.6938
15/05/2025	68.0501
14/05/2025	68.6958
13/05/2025	67.7994
12/05/2025	67.6632
08/05/2025	66.7720

RE – USD – Unhedged (R) Composition of the Dividend Payments

For the month of	Payment Date	Dividend per share	Dividend paid out of net distributable income ^	Dividend paid out of capital
No results found

Warning: Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the table above. Investors should read the relevant offering document (including the key facts statement) of the Fund for further details including the risk factors.

^ “Net distributable income” means the net investment income (i.e. dividend income and interest income net of fees and expenses) attributable to the relevant share class and may also include net realised gains (if any) based on unaudited management accounts. However, "net distributable income" cannot include net unrealised gains. "Net distributable income" which is not declared and paid as dividends in a period of a financial year can be carried forward as net distributable income for the next period(s) within the same financial year. “Net distributable income" that has been accrued as at the end of a financial year and is declared and paid as dividends at the next distribution date immediately after that financial year end could be treated as "net distributable income" in respect of that financial year. However, "net distributable income" which has been accrued as at the end of a financial year but is not declared and paid as dividends at the next distribution date immediately after that financial year end should be included as "capital" for the next financial year. Where the Fund may pay dividend out of gross income while charging / paying all or part of the Fund's fees and expenses to / out of capital, the amount of fees and expenses that has been paid out of capital has to be deducted from the gross investment income in order to come up with the "net distributable income".

Documents
1.	Prospectus	View
2.	Product Key Facts	View
3.	Annual Report	View
4.	Semi-Annual Report	View
5.	Monthly Fund Fact Sheet	View

Notices
1.	Notice (20/12/2024)	View
2.	Notice (12/07/2024)	View
3.	Notice (03/05/2024)	View
4.	Notice (12/04/2024)	View
5.	Notice (16/08/2023)	View
6.	Notice (26/07/2023)	View
7.	Notice (26/06/2023)	View
8.	Notice (30/05/2023)	View

Information herein is based on sources we believe to be accurate and reliable as at the date it was made. We reserve the right to revise any information herein at any time without notice. No offer or solicitation to buy or sell securities and no investment advice or recommendation is made herein. In making investment decisions, investors should not rely solely on this material but should seek independent professional advice.

Investment involves risks, in particular, risks associated with investment in emerging and less developed markets. Past performance is not indicative of future performance. Investors may not get back the full amount invested. Investors should read the Hong Kong offering documents for further details, including the risk factors, before investing.

The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested.

These figures show by how much the Sub-Fund increased or decreased in value during the calendar year being shown. Performance data has been calculated in the class currency of the relevant class of Shares including ongoing charges and excluding subscription fee and redemption fee you might have to pay.

This material and website have not been reviewed by the Securities and Futures Commission of Hong Kong.

Issued by Ping An of China Asset Management (Hong Kong) Company Limited.

Ping An of China Asset Management (Hong Kong) Company Limited (Suite 2301, 23rd Floor, Two International Finance Centre 8 Finance Street, Central Hong Kong) is the Hong Kong Representative and is regulated by the Securities and Futures Commission of Hong Kong.

Important Notice:
It has recently come to the attention of Ping An of China Asset Management (Hong Kong) Company Limited (the Company) that certain unauthorized individual(s) or entity(ies) has/have been promoting business on various on-line platforms by impersonating investment platform(s) under the Company. The Company hereby clarifies that such individual(s) or entity(ies) is/are not in any way connected with the Company, and such investment platform(s) is/are not managed or controlled by the Company. The Company hereby reminds the public to stay alert on the authenticity and reliability of the above-mentioned information.

For information relating to business conducted by the Company, please refer to the official website of the Company (https://asset.pingan.com.hk). For all enquiries, please contact us at:

Tel: (852) 3762-9228
Email: enquiries@pingan.com.hk

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Investments inherently involve risks. The value of the investments may go down as well as up. Past performance is not indicative of future performance. Please refer to the offering document of the relevant fund for further details before investing. It is advisable for you to seek professional advice before making any investment decision.

Investors should make his own appraisal of the suitability and risks of such an investment and should consult their own legal, financial, tax, accounting and other professional advisors (as appropriate) prior to any subscription or acquisition of units of a fund.

From Date: To Date: Time period:
Share Class:

Risk Disclosure

Fund Information

Fund Objective

Fund Strategy

General Information

Codes

RE – USD – Unhedged (R) : Calendar Year Performance (%)

RE – CNH – Unhedged (R) : Calendar Year Performance (%)

S – CNH- Unhedged (R) : Calendar Year Performance (%)

RE – USD – Unhedged (R) Composition of the Dividend Payments

Documents

Notices