Aberdeen Standard SICAV I - Asian Local Currency Short Duration Bond Fund A Acc USD

安本標準 - 亞洲當地貨幣短期債券基金 A類 Acc 美元

LU0094548533

Risk Rating: Level 3

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours
USD

6.7965

Latest Price: 2019-04-17

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / HKD / JPY / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

*Not include dividends (If applicable)

Fund Performaces

1 mth
-0.40
3 mth
+0.24
6 mth
+3.44
1 yr
-4.26
3 yr
+3.50
5 yr
-0.86

Analytical Figures (3 years)

Annualized Return
+1.15
Annualized Volatility
+4.43
Sharpe Ratio
0.00

Fund Information

Fund Houses
Aberdeen Standard Investments
Launch Date
1999-02-07
Fund Manager
Team managed
Manager Start Date
2007-11-30
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Fixed Income - Hybrid
Risk Rating
Risk Level 3

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-04-17)
USD 60,070,660
Management Fee
1.00%
Latest Dividend
N.A.

Sector Leaders

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / HKD / JPY / EUR / GBP / USD

HKD4,000.00Min. Subscription

HKD4,000.00

Dividend Records

No Dividends

Investment Objective

To achieve long-term total return by investing at least two-thirds of the Fund’s assets in short duration local Asian currency denominated debt and debt-related securities issued by governments, supranational institutions or government-related bodies that are domiciled in Asian countries.
For the purpose of this Fund, short duration shall mean maturity of three years or less.

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document of Aberdeen Global for details including the risk factors.
1. Risk of investing in debt and debt-related securities
The Fund’s investments in debt and debt-related securities are subject to interest rate risk and credit risk.
Interest rate fluctuations will affect the capital value of investments. Where long term interest rates rise, the capital value of shares is likely to fall and vice versa. Interest rate risk is the chance that such movements in interest rates will negatively affect the value of a security or, in a Fund’s case, its net asset value. Securities with greater interest rate sensitivity and longer maturities tend to produce higher yields, but are subject to greater fluctuations in value.
Credit risk reflects the ability of the borrower (bond issuer) to meet its obligations (pay the interest on a bond and return the capital on redemption date). Changes in the financial condition of an issuer, changes in economic and political conditions in general, or changes in economic and political conditions specific to an issuer, are all factors that may have an adverse impact on an issuer’s credit quality and security values.
Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner.
As a result of the above circumstances, the net asset value of the Fund may be adversely affected
2. Sovereign debt risk
Investment in debt obligations issued or guaranteed by governments of certain developed and developing countries or their agencies and instrumentalities (“governmental entities”) involves a higher degree of risk. The governmental entity that controls the repayment of sovereign debt may not be able or willing to repay the principal and/or interest when due in accordance with the terms of such debt.
A governmental entity’s willingness or ability to repay principal and interest due in a timely manner may be affected by, among other factors, its cash flow situation, the extent of its foreign reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the governmental entity’s policy towards the International Monetary Fund and the political constraints to which a governmental entity may be subject.
Governmental entities may default on their sovereign debt. Holders of sovereign debt, including the Fund, may be requested to participate in the rescheduling of such debt and to extend further loans to governmental entities.
3. Risk of investing in sub-investment grade and/or unrated debt securities
The Fund invests in debt securities, including sub-investment grade or unrated securities. Consequently, the Fund’s portfolio may have a significant position in sub-investment grade bonds, which means that there is more risk to investor’s capital and income than from a fund investing in investment grade bonds. The Fund may invest in sub-investment grade debt securities which is subject to a higher credit risk and a greater possibility of default than investment grade bonds. If the issuer defaults, or sub-investment grade bonds or their underlying assets cannot be realised, or performed badly, investor may suffer substantial losses.
In addition, the market for bonds which are rated below investment grade, have a lower credit rating or are unrated generally has lower liquidity and less active than that for higher rated bonds and the Fund’s ability to liquidate its holdings in response to changes in the economy or the financial markets may be further limited by such factors as adverse publicity and investor perceptions.
Investment in sub-investment grade bonds involves greater price volatility and risk of loss of principal and income than investment in bonds of a higher investment grade quality.
The Fund may invest in unrated bonds which involve higher risks and are more sensitive to adverse changes in general economic conditions and in the industries in which the issuers are engaged and to changes in the financial conditions of the issuers of such securities. The Fund has to rely on the Investment Adviser’s credit assessment of such bonds and is in particular subject to a high credit risk and a high risk of default.
4. Risk of investing in specific regional market
The Fund invests in a specific regional market sector (i.e. short duration local Asian currency denominated debt and debt related securities) and is likely to be more volatile than a more widely invested fund.
5. Risk of using financial derivative instruments
Risks associated with financial derivative instruments include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financial derivative instrument by the Fund. Exposure to financial derivative instrument may lead to a high risk of significant loss by the Fund.
6. Counterparty Risk
The Fund may enter into contracts that entail a credit exposure to certain counterparties such as bond issuers and counterparties of derivatives. To the extent that a counterparty defaults on its obligation and the Fund is delayed or prevented from exercising its rights with respect to the investments in its portfolio, it may experience a decline in the value of its position, a loss of income and possible additional costs associated with asserting its rights.
7. Risk of investing in emerging markets (including China)
The Fund invests in short duration local Asian currency denominated debt and debt-related securities thereby providing exposure to emerging markets (such as China) which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become less liquid which may constrain the Investment Adviser’s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise, putting the value of your investment at risk.
8. Risk relating to securities lending agreements
In relation to securities lending transactions, the Fund will be subject to counterparty risk, including the risk that the loaned securities may not be returned or returned in a timely manner and/or at a loss of rights in the collateral if the borrower or the lending agent defaults or fails financially. This risk is increased when the Fund’s loans are concentrated with a single or limited number of borrowers. The delays in the return of securities on loans may restrict the ability of the Fund to meet delivery obligations under security sales.
To the extent that a counterparty defaults on its obligation and the Fund is delayed or prevented from exercising its rights with respect to the investments in its portfolio, it may experience a decline in the value of its position, a loss of income and possible additional costs associated with asserting its rights.
9. Currency risk
The Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying transferable securities or currencies). Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Furthermore, the Fund’s portfolio may be fully or partially hedged back to the base currency if, in the opinion of the Investment Adviser, this is believed to be appropriate.
10. Exchange rates risk
The Fund may invest in securities denominated in a number of different currencies other than the base currency in which the Fund is denominated. Changes in foreign currency exchange rates may adversely affect the value of the Fund’s investments and the income thereon.
11. Risks relating to payments of dividends out of capital
The Board of Directors of Aberdeen Global may at its discretion pay dividends out of the capital of the Fund or pay dividends out of gross income while charging/ paying all or part of the Fund’s fees and expenses to/ out of the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital.
Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of the Fund’s capital or payment of dividends effectively out of the Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value per share.
If Aberdeen Global intends to change the dividend policy, Aberdeen Global will seek the SFC’s prior approval and provide shareholders with prior written notification of not less than one month (or such other period as the SFC may require).
12. Risk of Foreign Account Tax Compliance Act (“FATCA”)
The Fund will attempt to satisfy any obligations imposed on it to avoid the imposition of FATCA withholding tax. However, no assurance can be given that the Fund will be able to satisfy these obligations. If the Fund becomes subject to a withholding tax as a result of the FATCA regime, the value of the shares held by the shareholders may suffer material losses.
13. General risk
The value of shares and the income from them can go down as well as up and you may not get back the amount invested.