BEA Union Investment Asia Pacific Flexi Allocation Fund A Dis AUD (Hedged)

東亞聯豐亞太區靈活配置基金 A類 Dis 澳元 (對沖)

HK0000224227

Risk Rating: Level 4

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

Dealing Information

0%

Subscription Fee
As low as 0 %

A net deposit amount of HK$1,000,000 or above is required. For details, please refer to the iFund Account Fee Chart.

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.50%

HKD4,000.00Min. Subscription

AUD

HKD4,000.00Min. Subscription

HKD4,000.00

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+5.16
3 mth
-0.34
6 mth
+8.83
1 yr
-5.55
3 yr
+9.04
5 yr
-

Analytical Figures (3 years)

Annualized Return
+2.93
Annualized Volatility
+16.88
Sharpe Ratio
-0.02

Fund Information

Fund Houses
BEA UNION INVESTMENT MANAGEMENT LIMITED
Launch Date
2015-02-05
Fund Manager
Team Managed
Manager Start Date
2015-02-06
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Balanced - Equity biased
Risk Rating
Risk Level 4

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 2019-05-30)
USD 33,000,000
Management Fee
1.50%
Latest Dividend
AUD 0.027000 (2019-06-16)

Sector Leaders

    No Funds

Dealing Information

0%

Subscription Fee
As low as 0 %

A net deposit amount of HK$1,000,000 or above is required. For details, please refer to the iFund Account Fee Chart.

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.50%

HKD4,000.00Min. Subscription

AUD

HKD4,000.00Min. Subscription

HKD4,000.00

Dividend Records

Dividend DateDividend Records (AUD)
2019-06-160.027000
2019-05-140.027000
2019-04-140.027000
2019-03-140.027000
2019-02-140.026000
2019-01-140.032000
2018-12-160.035000
2018-11-140.042000
2018-10-140.043000
2018-09-160.044000
2018-08-140.044000
2018-07-150.045000
2018-06-140.045000
2018-05-140.045000
2018-04-150.045000
2018-03-140.050000
2018-02-140.045000
2018-01-140.052000
2017-12-140.052000
2017-11-140.052000
2017-10-150.052000
2017-09-140.050000
2017-08-140.050000
2017-07-160.050000
2017-06-140.042000
2017-05-140.042000
2017-04-170.041000
2017-03-140.037000
2017-02-140.037000
2017-01-150.037000
2016-12-140.037000
2016-11-140.037000
2016-10-160.037000
2016-09-140.037000
2016-08-140.038000
2016-07-140.039000
2016-06-140.040000
2016-05-150.041000
2016-04-140.042000
2016-03-140.043000
2016-02-140.043000
2016-01-140.047000
2015-12-140.051000
2015-11-150.053000
2015-10-140.055000
2015-09-140.055000
2015-08-160.055000
2015-07-140.057000
2015-06-140.056000
2015-05-140.055000

Investment Objective

The investment objective of the Sub-Fund is to seek long-term capital growth and income through investing in equity securities or debt securities, that are either (a) traded in the Asia Pacific region or (b) issued by companies incorporated in the Asia Pacific region or companies which have significant operations in or derive significant portion of revenue from the Asia Pacific region. The equity securities and debt securities as described above are hereinafter referred to as “Equity Securities” and “Debt Securities”, respectively. The Equity Securities and Debt Securities are collectively referred to as “Asia Pacific Securities”.

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 markets risk
The Sub-Fund may invest in equities, REITs, ETFs 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. Where equity markets are extremely volatile, the net asset value of the Sub-Fund may fluctuate substantially and investors may suffer substantial loss.
3. Interest rates, credit and downgrading risks
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. An increase in interest rate will generally reduce the value of debt securities.
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.
4. Risks relating to below investment grade and non-rated securities including high yield bonds
The Sub-Fund may invest in below investment grade or non-rated debt securities including high yield bonds. 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.
5. Liquidity risk
The market for securities which are below investment grade or non-rated debt securities including high yield bonds generally is of lower liquidity and less active than that for higher rated securities and the Sub-Fund’s ability to liquidate its holdings in response to changes in the economy or the financial markets may be further limited by factors such as adverse publicity and investor perception.
6. 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.
The Sub-Fund may invest in securities in jurisdictions which impose control or restrictions on foreign exchange and repatriation of capital. Exchange control regulations and any changes in such regulations may cause difficulties in the repatriation of funds.
7. Diversification risk
The Sub-Fund is likely to be more volatile than a broad-based fund, such as an ordinarily global equity fund, as it is more susceptible to fluctuations in value resulting from adverse conditions in the Asia Pacific region.
8. Currency risk
The Sub-Fund is denominated in US dollars although it may be invested in whole or in part in assets quoted in other currencies such as Asian currencies. The performance of the Sub-Fund will therefore be affected by movements in the exchange rate between the currencies in which the assets are held and US dollars.
9. 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 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.
10. 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.
11. 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.
12. 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.

Manage your asset round-the-clock

Hotline

852
3896 3896

1501, 15/F, 101 King's Road,
North Point, Hong Kong

Mon - Fri (excluding public holidays)
09:00 - 18:00

Copyright © 2019 Noble Apex Advisors Limited. All Rights Reserved.