No fund search result

BEA Union Investment China A-Share Equity Fund A USD

東亞聯豐中國A股股票基金 A類 美元

HK0000074176

Risk Rating: Level 6

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.20%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2020-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.48%
3 mth
+20.99%
6 mth
+42.00%
1 yr
+39.99%
3 yr
+52.65%
5 yr
+81.49%

Analytical Figures (3 years)

Annualized Return
+15.14%
Annualized Volatility
+19.68%
Sharpe Ratio
+0.84

Fund Information

Fund Houses
BEA UNION INVESTMENT MANAGEMENT LIMITED
Launch Date
2010-12-16
Fund Manager
Team Managed
Manager Start Date
Team Managed 2010-12-17
Geographical Focus
China A Shares
Asset Class/ Sector
Equity - Small / Mid cap
Risk Rating
Risk Level 6

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2020-09-20)
USD 33,810,000
Management Fee
1.20%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.20%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2020-09-30

Dividend Records

No Dividends

Investment Objective

The investment objective of the Sub-Fund is to seek long-term capital growth by investing primarily in a diversified portfolio of securities of companies which have their principal place of business or key assets located in China or which derive a substantial part of their revenue from China.

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. Equity market risk
The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.
3. Concentration risk / China market risk
The Sub-Fund’s investments are concentrated in China. The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the China market.
4. Risks associated with Stock Connects
The relevant rules and regulations on Stock Connects are subject to change which may have potential retrospective effect. The programme is subject to quota limitations.
Where a suspension in the trading through the Stock Connects is effected, the Sub-Fund’s ability to invest in China A-Shares or access the PRC market through the programme will be adversely affected. In such event, the Sub-Fund’s ability to achieve its investment objective could be negatively affected.
5. Risks associated with the Small and Medium Enterprise board (“SME board”) and/or ChiNext board and/or Science and Technology Innovation board (“STAR board”)
The Sub-Fund may invest in the SME board and/or the ChiNext board of the Shenzhen Stock Exchange and/or the STAR board of the Shanghai Stock Exchange. Investments in the SME board and/or ChiNext board and/or STAR board may result in significant losses for the Sub-Fund due to additional risks including higher fluctuation on stock prices, over-valuation risk, delisting risk and risk associated with less stringent listing rules when compared to those of the main board.
6. QFII risk
The Sub-Fund is subject to restrictions under QFII regulations, such as investment restrictions. The capacity of the Sub-Fund to make investments, and thus the value of the Sub-Fund, may be affected.
The Manager’s QFII status could be suspended or revoked, in which case the Sub-Fund may be required to dispose of its securities holdings. Further, the laws and regulations applicable to a QFII in China are subject to change which may take retrospective effect.
These factors may adversely affect the liquidity and performance of the Sub-Fund.
There can be no assurance that a QFII will continue to make available its QFII quota, or the Sub-Fund will be allocated a sufficient portion of QFII quota from the Manager to meet all applications for subscription to the Sub-Fund. The Sub-Fund’s performance may therefore be affected due to limited investment capabilities, or the Sub-Fund may not be able to fully implement or pursue its investment objective or strategy.
7. RMB currency and conversion risks
The Sub-Fund is denominated in US dollars and subscriptions monies and redemptions proceeds will be paid in US dollars. However, investments will be made through a QFII in RMB. The performance of the Sub-Fund may therefore be affected by movements in the exchange rate between US dollars and RMB.
RMB is currently not freely convertible and is subject to foreign exchange controls and restrictions.
Non-RMB based (e.g. Hong Kong) investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies (for example HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the Sub-Fund.
Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. Any divergence between CNH and CNY may adversely impact investors.
Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.
8. Custodial risk and brokerage
Securities investments made through a QFII will be maintained by a custodian bank appointed by the QFII pursuant to PRC regulations. The Manager in its capacity as a QFII has appointed Industrial and Commercial Bank of China Limited as the custodian in respect of the QFII securities. In addition, the execution and settlement of transactions
or the transfer of any funds or securities may be conducted by brokers appointed by the QFII. If the QFII Custodian or the PRC Brokers default, the Sub-Fund may suffer substantial losses.
9. China tax risk
There are risks and uncertainties associated with the current Chinese tax laws, regulations and practice (which may have retrospective effect). Any increased tax liabilities on the Sub-Fund may adversely affect the Sub-Fund’s value.
The Manager currently does not intend to withhold any amount of realised and/or unrealised capital gains on investments in China A-Shares.
The Manager currently intends to make provisions for any PRC taxes payable by the SubFund on dividends derived from PRC Equity Securities (including China A-Shares acquired through the Stock Connects), at a rate of 10% (or as otherwise advised by the Sub-Fund’s tax adviser), if the relevant WIT is not withheld at source. Any shortfall between the provision and actual tax liabilities, which will be debited from the Sub-Fund’s assets, will adversely affect the Sub-Fund’s asset value. The actual tax liabilities may be lower than the tax provision made. Depending on the timing of their subscriptions and/or redemptions, investors may be disadvantaged as a result of any shortfall of tax provision and will not have the right to claim any part of the overprovision (as the case may be).
10. Emerging market risk
The Sub-Fund invests in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
11. Derivative risk
Risks associated with derivative instruments include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a derivative instrument can result in a loss significantly greater than the amount invested in the derivative instrument by the Sub-Fund. Exposure to derivative instruments may lead to a higher risk of significant loss by the Sub-Fund.
The Sub-Fund may use derivative instruments for hedging purposes which 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 may result in significant losses.
12. 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.
The costs of the hedging transactions will be reflected in the net asset value of the currency hedged class units and therefore, an investor of such currency hedged class units will have to bear the associated hedging costs, which may be significant depending on prevailing market conditions.
If the counterparties of the instruments used for hedging purpose default, investors of the currency hedged class units may be exposed to currency exchange risk on an unhedged basis and may therefore suffer further losses.
While hedging strategies may protect investors in the currency hedged class units against a decrease in the value of the Sub-Fund’s base currency relative to the class currency of the currency hedged class units, it may also preclude investors from benefiting from an increase in the value of the Sub-Fund’s base currency.