BEA Union Investment Asia Pacific Multi Income Fund A Dis HKD

東亞聯豐亞太區多元收益基金 A類 Dis 港元

HK0000107265

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
HKD

102.65

Latest Price: 2019-03-24

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.40%

HKD4,000.00Min. Subscription

HKD

HKD4,000.00Min. Subscription

HKD4,000.00

*Not include dividends (If applicable)

Fund Performaces

1 mth
+1.31
3 mth
+5.97
6 mth
+2.51
1 yr
-2.09
3 yr
+15.70
5 yr
+25.55

Analytical Figures (3 years)

Annualized Return
+4.98
Annualized Volatility
+5.82
Sharpe Ratio
+0.83

Fund Information

Fund Houses
BEA UNION INVESTMENT MANAGEMENT LIMITED
Launch Date
2012-05-10
Fund Manager
Team Managed
Manager Start Date
Team Managed (Start Date: 2012-05-11)
Geographical Focus
Asia Pacific
Asset Class/ Sector
Balanced - Bond biased
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 2019-02-27)
USD 472,310,000
Management Fee
1.40%
Latest Dividend
HKD 0.4900 (2019-03-14)

Sector Leaders

Dealing Information

0%

Subscription Fee
As low as 0 %

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.40%

HKD4,000.00Min. Subscription

HKD

HKD4,000.00Min. Subscription

HKD4,000.00

Dividend Records

Dividend DateDividend Records (HKD)
2019-03-140.4900
2018-12-160.4900
2018-11-140.5200
2018-10-140.5200
2018-09-160.4800
2018-08-140.4800
2018-07-150.4800
2018-06-140.5300
2018-05-140.5300
2018-04-150.5300
2018-03-140.5300
2018-02-140.5300
2018-01-140.5500
2017-12-140.5500
2017-11-140.5500
2017-10-150.5500
2017-09-140.5500
2017-08-140.5500
2017-07-160.5500
2017-05-140.5500
2016-12-140.6000
2016-11-140.6000
2016-10-160.6000
2016-09-140.6000
2016-08-140.5400
2016-07-140.5400
2016-06-140.5400
2016-05-150.5400
2016-04-140.5300
2016-03-140.5400
2016-02-140.5400
2016-01-140.5700
2015-12-140.6000
2015-11-150.6100
2015-10-140.6200
2015-09-140.6100
2015-08-160.6100
2015-07-140.6100
2015-06-140.6100
2015-05-140.6100
2015-04-140.5500
2015-03-150.5500
2015-02-150.5500
2015-01-140.6300
2014-12-140.6300
2014-11-160.6300
2014-10-140.6300
2014-09-140.6300
2014-08-140.6300
2014-07-140.5300
2014-06-150.5300
2014-05-140.5300
2014-04-140.5300
2014-03-160.5300
2014-02-160.5300
2014-01-140.5300
2013-12-150.5300
2013-11-140.5300
2013-10-140.5300
2013-09-150.5300
2013-08-140.5300
2013-07-140.5300
2013-06-160.5300
2013-05-140.5300
2013-04-140.5300
2013-03-140.5300
2013-02-140.5300
2013-01-140.6000
2012-12-160.6000
2012-11-140.6000
2012-10-140.6000
2012-09-160.6000
2012-08-140.6000

Investment Objective

The investment objective of the BEA Union Investment Asia Pacific Multi Income Fund is to seek income and long-term capital growth through investing in an actively managed portfolio of debt securities, listed REITs and other listed securities including equities and managed funds, that are issued or traded in the Asia Pacific region or which have significant operations in, or derive or are expected to derive a significant portion of their revenues from, the Asia Pacific region. The debt securities and other listed securities as described above are hereinafter referred to as “Debt Securities” and “Other Listed Securities”, respectively.

Nature and Extent of Risks

Investment involves risks. Please refer to the Explanatory Memorandum for details including the risk factors.
1. Investment risk
- The Sub-Fund is an investment fund. The Sub-Fund’s investment portfolio may fall in value and therefore your investment in the Sub-Fund may suffer losses.
2. Interest rates, credit and downgrading risk
- The Sub-Fund invests directly in debt securities, which are susceptible to interest rate changes and may experience significant price volatility. Any fluctuation in interest rates may have a direct effect on the income received by the Sub-Fund and its capital value.
- If the issuer of any of the securities in which the Sub-Fund invests defaults or suffers insolvency or other financial difficulties, the value of such Sub-Fund will be adversely affected.
- Investment grade securities invested by the Sub-Fund may be subject to the risk of being downgraded to below investment grade securities. In the event of downgrading in the credit ratings of a security or an issuer relating to a security, the Sub-Fund’s investment value in such security may be adversely affected.
3. Below investment grade and non-rated securities risk
- The Sub-Fund may invest in below investment grade or non-rated debt securities. Such debt securities are generally subject to more risk and volatility than higher-rated securities because of reduced credit worthiness, liquidity and greater chance of default and can thereby expose the Sub-Fund to losses.
4. Equity markets risk
- The Sub-Fund may invest in equities, listed REITs and managed funds, and thus is subject to the risks generally associated with equity investments. Factors affecting the value of such securities include but not limited to changes in investment sentiment, political, economic and social environment, and liquidity and volatility in the investment market.
5. Emerging markets risk
- The Sub-Fund may invest in or have exposure to securities in the emerging markets. Investments in the emerging markets tend to be more volatile than developed markets and may lead to a higher level of risks due to, among other factors, greater political, tax, economic, foreign exchange, liquidity and regulatory risks.
6. Derivative risk
- The Sub-Fund may invest in financial futures contracts. Derivative instruments that are not traded on an exchange are subject to, among others, liquidity risk (i.e. the risk that the Sub-Fund may not be able to close out a derivative position in a timely manner and/ or at a reasonable price) and counterparty risks (i.e. the risk that a counterparty may become insolvent and therefore unable to meet its obligations under a transaction). In addition, investments in these instruments generally involve higher volatility, and may result in a significant loss to the Sub-Fund.
- The Sub-Fund may use financial futures, currency forwards and other derivative instruments for hedging purposes. Such hedging may not achieve the intended purpose. In an adverse situation, the Sub-Fund’s use of derivative instruments may become ineffective in achieving hedging and the Sub-Fund may suffer significant losses.
7. Effect of distribution out of capital
- The Manager may at its discretion make distributions from income and/or capital in respect of the distributing classes of the Sub-Fund. Investors should note that the distributions paid out of capital amount to a return or withdrawal of part of the unitholder’s original investment or from any capital gains attributable to that original investment. Such distribution may result in an immediate reduction of the Net Asset Value per Unit.
8. Currency hedging risk
- Adverse exchange rate fluctuations between the base currency of the Sub-Fund and the class currency of the currency hedged class units may result in a decrease in return and/or loss of capital for unitholders. Over-hedged or under-hedged positions may arise and there can be no assurance that these currency hedged class units will be hedged at all times or that the Manager will be successful in employing the hedge.
9. Risks associated with RMB classes of units
- Investors may invest in RMB classes of units. It should be noted that the RMB is currently not a freely convertible currency as it is subject to foreign exchange control policies of the Chinese government. The Chinese government’s policies on exchange control and repatriation restrictions are subject to change and the investors’ investment in the RMB classes of units may be adversely affected.
- There is also no assurance that the RMB will not be subject to devaluation. Where the hedging transactions become ineffective, any devaluation of the RMB could adversely affect the value of investors’ investments in the RMB classes of units.
- If investors are non RMB-based (e.g. Hong Kong) investors and convert other currencies into RMB so as to invest in the RMB classes of units and subsequently convert the RMB realisation proceeds and/or dividend payment (if any) back into other currencies, they may incur currency conversion costs and may suffer a loss if RMB depreciates against such other currencies.
- When calculating the value of the RMB classes of units, reference to the CNH rate (i.e. the exchange rate for the offshore RMB market in Hong Kong) rather than the CNY rate (i.e. the exchange rate for the onshore RMB market) will be made and the value of the RMB classes of units thus calculated will be affected by fluctuations in the CNH rate. While CNH and CNY represent the same currency, they are traded in different and separate markets which operate independently. As such, CNH does not necessary have the same exchange rate and may not move in the same direction as CNY.
- In respect of the hedged RMB classes of units, the Manager may attempt to hedge the base currency of the Sub-Fund and/or other currencies of non-RMB-denominated underlying investments of the Sub-Fund back to RMB. If the counterparties of the instruments used for hedging purpose default, investors of the hedged RMB classes of units may be exposed to RMB currency exchange risk on an unhedged basis and may therefore suffer further losses.
- Furthermore, there is no guarantee that the hedging strategy will be effective and you may still be subject to the RMB currency exchange risk which may apply to the nonhedged RMB classes.
- Whilst the hedging strategy may protect investors against a decline in the value of the Sub-Fund’s base currency and/or other currencies of non-RMB-denominated underlying investments relative to RMB, investors will not benefit from any potential gain in the value of the hedged RMB classes of units if the Sub-Fund’s base currency and/or other currencies of non-RMB-denominated underlying investments of the Sub-Fund rise against RMB.
- The PRC government’s imposition of restrictions on the repatriation of RMB out of China may limit the depth of the RMB market outside the PRC and make it impossible for the Sub-Fund to hold sufficient amounts of RMB outside the PRC to meet realisation requests and/or pay dividends in RMB. In particular, the Sub-Fund may not be able to get sufficient amounts of RMB in a timely manner to meet realisation requests of the RMB classes of units and/or pay dividends (if any) if all or a substantial portion of its underlying investments are non-RMB denominated.
- Even if the Sub-Fund aims to pay realisation proceeds and/or dividends to investors of the RMB classes of units in RMB, investors may not receive RMB upon realisation of their investments or receive dividend payments in RMB under extreme market conditions when there is not sufficient RMB for currency conversion. Under such circumstances, the Manager may pay realisation proceeds and/or dividends in USD. There is also a risk that payment of investors’ realisation proceeds and/or dividends in RMB may be delayed when there is not sufficient RMB for currency conversion for settlement of the realisation proceeds and dividends. In any event, realisation proceeds will be paid within one calendar month of the relevant Dealing Day or (if later) receipt of a properly documented request for realisation of units.