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Risk Disclosure

Important information: The Fund invests mainly in debt securities issued in emerging market countries. The Fund is subject to the key risks associated with debt securities, emerging markets, below investment grade securities and volatility and liquidity.

Investments in emerging markets may involve a greater risk than developed markets and the likelihood of a high volatility.

The Fund’s net derivative exposure may be up to 50% of the 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 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 Inception3/9/2018
Fund SizeUSD 98.62 million (30/06/2021)
Base CurrencyUSD
NAV (25/10/2021)

Class RE – USD – Unhedged (D) USD 95.6600

Class RE – HKD – Unhedged (D) HKD 95.7112

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 maximize total returns on a rolling twelve month basis with target levels of volatility comparable to various fixed income asset market conditions, by investing in debt securities of emerging market countries. The Fund aims to achieve absolute return from investment income and long term capital appreciation.

Fund Strategy

The Fund will invest at least 60% of its net assets in bonds, debt securities, convertible instruments issued by governments, government agencies and/or companies that have their registered office in, are located in or do most of their business in emerging market countries (i.e. countries that are in the MSCI ACWI and Frontier Markets Index (MXWDFM Index).

The Fund may invest up to 100% 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).

The Fund's investments will be denominated exclusively in Hard Currencies, such as U.S. Dollar, currencies of Group of 7 nations (eg. EUR, GBP, AUD) and/or local currencies of emerging market countries.

While there is no restriction on the duration of the securities in which the Fund may invest, the duration of fixed-income securities in which the Sub-Fund may invest will generally be between 2 and 5 years, whilst in the case of floating rate securities, the duration will generally be within 1 year.

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:1.00%
Switching Fee:0.2% (Shareholders may request switching of their shares from one Class to the same Class of another Sub-Fund)
Redemption Fee:0.60%
Management Fee:2.00%
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) LU1859396266
Class RE – USD – Unhedged (D) LU1859396183
Class RE – HKD – Unhedged (R) LU1859402502
Class RE – HKD – Unhedged (D) LU1859402411
Class RE – CNH – Unhedged (R) LU1859398551
Class RE – CNH – Unhedged (D) LU1859398478
Class RE – CNH – Hedged (R) LU1859399286
Class RE – CNH – Hedged (D) LU1859399104

Date

NAV (Class RE – USD – Unhedged (D))

25/10/2021
95.6600
22/10/2021
95.8774
21/10/2021
96.1506
20/10/2021
96.2364
19/10/2021
96.1233
18/10/2021
95.5994
15/10/2021
94.8761
12/10/2021
94.1844
11/10/2021
94.7175
08/10/2021
95.7141

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.