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Risk Disclosure

Important information: The Fund invests mainly in green fixed income instruments predominantly issued in China. The Fund is subject to the key risks associated with debt securities, geographic concentration in Mainland China, green bonds, below investment grade securities, volatility and liquidity risk and RMB. The Fund may underperform funds that do not focus on green fixed income instruments, and may be more volatile than a fund with a more diverse portfolio.

The Fund is also exposed to risks relating to securities lending transactions, repurchase agreements and reverse repurchase agreements. 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. In respect of distributing share classes, the Sub-Fund may make distributions effectively out of capital. This would amount to a return or withdrawal of part of the amount of an investor’s original investment, or from any capital gains attributable to that original investment. This may result in an immediate decrease in the NAV per share.

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 ManagerPing An of China Asset Management (Hong Kong) Co. Ltd
Fund Inception11/11/2019
Fund SizeUSD 94.47 million (30/06/2021)
Base CurrencyUSD
NAV (21/10/2021)

Class RE – USD – Unhedged (D) USD 96.4878

Class RE – HKD – Unhedged (D) HKD 96.5718

Dealing FrequencyDaily (Business Day in Luxembourg and Hong Kong)
Dividend PolicyDividends, if any, will be declared in June and/or December and distributed out of the net income of the Fund semi-annually. Dividends are only applicable to Distribution (D) Share Classes.

Fund Objective

The Fund aims to achieve absolute return from investment income and long term capital appreciation primarily from investing in international standard aligned green bonds (i.e. those which follow Green Bond Principles of the International Credit Market Association) issued by China and other emerging market issuers with the aim to promote green financing, bring upon advancement in environmental friendly investments and social awareness in emerging countries.

Fund Strategy

The Fund will invest at least 70% of its net assets in green fixed income instruments predominantly issued by issuers including sovereigns, quasi-sovereigns, supranationals, financial institutions as well as corporates in Greater China, including in Mainland China on the China Interbank Bond Market (the “CIBM") via the Bond Connect and/or a RMB Qualified Foreign Institutional Investor ("RQFII"). Such fixed income securities shall include urban investment bonds, which are debt instruments issued by local government financing vehicles (“LGFVs”) and traded in the PRC exchange-traded bond markets and inter-bank bond market. The Fund will not invest in more than 60% of its net assets in Mainland China securities via an RQFII.

Green Bond Principles are voluntary process guidelines issued by the International Capital Market Association (ICMA) that recommend transparency and disclosure and promote integrity in the development of the green bond market by clarifying the approach for issuance of a green bond. The Green Bond Principles have the following four core components: (i) use of proceeds, (ii) process for project evaluation and selection, (iii) management of proceeds, and (iv) reporting. To align with these four core components of the Green Bond Principles, issuers of green bonds shall: (i) indicate that proceeds will be used to finance “green”/climate projects; (ii) have process to identify qualifying projects based on sound methodology and clear criteria; (iii) allocating proceeds to the identified projects and not to other general expenses/investments; (iv) report, at least annually, the status of the use of proceeds, the status of projects and the actual environmental impact. Any self-declared green bonds which do not fulfil the standards set by CBI and/or any equivalent green classification standard may not be included within the investable universe of the Fund.

The Fund may invest up to 40% of its net assets in debt securities that at the time of acquisition have a rating of BB+ or below (by Standard & Poor’s or an equivalent international agency, which shall not include Mainland Chinese credit agencies) with the aim of achieving an overall Fund average rating of BBB- or above.

During exceptional circumstances, the Fund may hold all or a significant portion of its net assets in liquid assets, such as money market instruments and fixed deposits with a term to maturity not exceeding 12 months at credit institutions.

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 10,000
Minimum Subsequent Investment Amount:Class RE Shares USD 10,000
Minimum Redemption Amount:Class RE Shares USD 10,000
Subscription Fee:Nil
Switching Fee:Nil (Shareholders may request switching of their shares from one Class to the same Class of another Sub-Fund)
Redemption Fee:Nil
Management Fee:1.00%
Financial Year End:31 December
Management Company:Carne Global Fund Managers (Luxembourg) S.A.
Custodian & Administrator:HSBC Continental Europe, Luxembourg

Codes

ISIN CodesClass RE – USD – Unhedged (R) LU2069540941
Class RE – USD – Unhedged (D) LU2069541089
Class RE – HKD – Unhedged (R) LU2069542053
Class RE – HKD – Unhedged (D) LU2069542137
Class RE – CNH – Unhedged (R) LU2069565005
Class RE – CNH – Unhedged (D) LU2069565260
Class RE – CNH – Hedged (R) LU2069565344
Class RE – CNH – Hedged (D) LU2069565427

Date

NAV (Class RE – USD – Unhedged (D) )

21/10/2021
96.4878
20/10/2021
96.4730
19/10/2021
96.4577
18/10/2021
95.9748
15/10/2021
95.6760
12/10/2021
95.3375
11/10/2021
95.6376
08/10/2021
96.1544
07/10/2021
97.3355
06/10/2021
97.8706

Documents

1.ProspectusView
2.Product Key FactsView

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 should read the Hong Kong offering documents for further details, including the risk factors, before investing.

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.