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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 51.0 million (29/12/2023)
Base CurrencyUSD
NAV (22/02/2024)

Class RE – USD – Unhedged (D) USD 80.41

Class RE – HKD – Unhedged (D) HKD 80.95

USD UH S R USD 95

USD AIN R USD 86.08

USD AIN D USD 73.07

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
 
       

 

 - Dividend (ex-date)

Date

NAV (Class RE – USD – Unhedged (D))

22/02/2024
80.4120
21/02/2024
80.4024
20/02/2024
80.4034
19/02/2024
80.3919
16/02/2024
80.3965
15/02/2024
80.3790
14/02/2024
80.3460
09/02/2024
80.3836
08/02/2024
80.3876
07/02/2024
80.3734
 

Class RE – USD – Unhedged (D) Composition of the Dividend Payments

For the month of Payment DateDividend per shareDividend 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.ProspectusView
2.Product Key FactsView
3.Annual ReportView
4.Semi-Annual ReportView
5.Monthly Fund Fact SheetView

Notices

1.Dividend Notice to Shareholders (22/12/2023) View
2.Fund Dividend Composition Information (12/2023) View
3.Notice (26/06/2023) View
4.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 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.