CCB Principal Dual Income Bond Fund H Dis RMB

建信雙息紅利債券型證券投資基金 H類 Dis 人民幣

CNE1000026R9

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

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

0.70%

HKD10,000.00Min. Subscription

HKD / RMB / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

15:45

-

  • Fund House requires the subscription payment well received before order placement. The turn around time for a remittance from Noble Apex to the relevant fund house is 2 to 3 working days.
*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-0.09%
3 mth
-0.09%
6 mth
+1.94%
1 yr
+5.85%
3 yr
+1.57%
5 yr
-

Analytical Figures (3 years)

Annualized Return
+0.52%
Annualized Volatility
+3.44%
Sharpe Ratio
-0.14

Fund Information

Fund Houses
Principal Asset Management Co. (Asia) Ltd
Launch Date
2011-12-12
Fund Manager
Hong Zhu
Manager Start Date
2018-04-20
Geographical Focus
China
Asset Class/ Sector
Fixed Income - Hybrid
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 2019-09-29)
RMB 468,691,685
Management Fee
0.70%
Latest Dividend
RMB 0.017000 (2017-10-25)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

0.70%

HKD10,000.00Min. Subscription

HKD / RMB / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

15:45

-

  • Fund House requires the subscription payment well received before order placement. The turn around time for a remittance from Noble Apex to the relevant fund house is 2 to 3 working days.

Dividend Records

Dividend DateDividend Records (RMB)
2017-10-250.017000
2017-01-190.035000
2016-10-180.025000
2016-07-140.024000
2016-04-170.030000
2016-01-240.046000
2015-10-260.050000
2015-07-190.074000
2015-04-140.050000
2015-01-190.044000
2014-10-140.030000
2013-07-170.025000
2013-04-160.026000

Investment Objective

The investment objective of the Fund is, through a pro-active management of bond portfolio, to obtain investment return for its investors whilst maintaining a stable growth of the Fund assets.

Nature and Extent of Risks

Investment involves risks and there is no guarantee of the repayment of the principal. Please refer to the offering document for details including the risk factors.
1. Investment Risk
The Fund is an investment fund. There is no guarantee of the repayment of the principal or payment of dividend or distributions. Further, there is no guarantee that the Fund will be able to achieve its investment objective and there is no assurance that the stated strategies can be successfully implemented.
2. Risks associated with the MRF arrangement
Quota restrictions: The Mainland-Hong Kong Mutual Recognition of Funds (MRF) scheme pursuant to which this Fund is authorized is subject to an overall quota restriction. Subscription of Class H Units in the Fund may be suspended at any time if such quota is used up.
Failure to meet eligibility requirements: If the Fund ceases to meet any of the eligibility requirements under the MRF, it may not be allowed to accept new subscriptions. In the worst scenario, the SFC may even withdraw its authorization for the Fund to be publicly offered in Hong Kong for breach of eligibility requirements. There is no assurance that the Fund can satisfy these requirements on a continuous basis.
Different market practices: Market practices in the Mainland and Hong Kong may be different. In addition, operational arrangements of the Fund and other public funds offered in Hong Kong may be different in certain ways. For example, subscriptions or redemptions of Class H Units may only be processed on a day which both Mainland and Hong Kong markets are open. Besides this dealing day arrangement, the Fund may also have different cut-off times or dealing day arrangements from other SFC-authorized funds. Investors should ensure that they understand these differences and their implications.
Mainland tax risk: Currently, certain tax concessions and exemptions are available to the Fund and/ or its investors under the MRF regime. There is no assurance that such concessions and exemptions or Mainland tax laws and regulations will not change. Any change to the existing concessions and exemptions as well as the relevant laws and regulations may adversely affect the Fund and/or its investors and they may suffer substantial losses as a result.
3. Mainland market risk/Concentration risk
The Fund invests primarily in securities related to the Mainland market and may be subject to additional concentration risk. Investing in the Mainland market may give rise to different risks including political, policy, tax, economic, foreign exchange, legal, regulatory and liquidity risks.
4. RMB currency and conversion risks
RMB is currently not freely convertible and is subject to exchange controls and restrictions.
Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies (for example Hong Kong dollar) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the Fund.
Investors may not receive RMB upon redemption of investments and/or dividend payment (if any) may be delayed due to the exchange controls and restrictions applicable to RMB.
5. Mainland debt securities risks
Volatility and liquidity risks: The Mainland debt securities markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations.
Counterparty risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in.
Interest rate risk: Investment in the Fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. The Fund is exposed to additional policy risk of potential adjustment by the government to the interbank deposit rate.
Downgrading risk: The credit rating of a debt instrument or its issuer may be downgraded subsequent to investment by the Fund. In the event of such downgrading, the value of the Fund may be adversely affected. The Manager may or may not be able to dispose of the debt instruments that are being downgraded.
Credit rating agency risk: The credit appraisal system in the Mainland and the rating methodologies employed in the Mainland may be different from those employed in other markets. Credit ratings given by Mainland rating agency may therefore not be directly comparable with those given by other international rating agencies.
Risk associated with urban investment bonds: The Fund may invest in urban investment bonds. Urban investment bonds are issued by local government financing vehicles (“LGFVs”), such bonds are typically not guaranteed by local governments or the central government of the Mainland. In the event that the LGFVs default on payment of principal or interest of the urban investment bonds, the Fund could suffer substantial loss and the net asset value of the Fund could be adversely affected.
Risk associated with asset-backed securities: The Fund may invest in asset-backed securities (including asset-backed commercial papers) which may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of the securities.
Risk associated with debt securities which are rated BB+ or below by a Mainland credit rating agency or unrated: The Fund may invest in debt securities rated BB+ or below by a Mainland credit rating agency or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
6. Risks associated with repurchase and reverse repurchase transactions
The Manager may enter into repurchase and reverse repurchase transactions for the account of the Fund on the Mainland stock exchanges or in the interbank market.
The collateral pledged under the reverse repurchase transactions in the interbank market may not be marked-to-market. In addition, the Fund may suffer substantial loss when engaging in reverse repurchase transactions as there may be delay and difficulties in recovering cash placed out or realizing the collateral, or proceeds from the sale of the collateral may be less than the cash placed with the counterparty due to inadequate valuation of the collateral and market movements upon default of the counterparty.
For repurchase transaction, the Fund may suffer substantial loss as there may be delay and difficulties in recovering collateral pledged with the counterparty or the cash originally received may be less than the collateral pledged due to inadequate valuation of the collateral and market movement upon default of the counterparty.
7. Risks relating to payment of dividends out of capital
Payment of dividends out of capital or effectively out of capital amount to a return or withdrawal of part of a Unitholder’s original investment or from any capital gains attributable to that original investment.
Any distribution involving payment of dividends out of or effectively out of the Fund’s capital may result in an immediate reduction of the net asset value per unit.

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852
3896 3896

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