First State High Quality Bond Fund I Dis USD

首域優質債券基金 I類 Dis 美元

IE0008370714

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

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD15,000.00Min. Subscription

1.00%

HKD10,000.00Min. Subscription

USD

HKD15,000.00Min. Subscription

HKD15,000.00

HKD15,000.00

Daily

16:30

2019-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-0.77%
3 mth
+2.84%
6 mth
+6.88%
1 yr
+10.32%
3 yr
+7.06%
5 yr
+12.72%

Analytical Figures (3 years)

Annualized Return
+2.30%
Annualized Volatility
+3.87%
Sharpe Ratio
+0.27

Fund Information

Fund Houses
First State Investments
Launch Date
2000-02-21
Fund Manager
Jamie Grant
Manager Start Date
2016-8-1
Geographical Focus
US
Asset Class/ Sector
Fixed Income - Investment grade
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 2019-09-18)
USD 78,220,046.95
Management Fee
1.00%
Latest Dividend
USD 0.147400 (2019-08-07)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD15,000.00Min. Subscription

1.00%

HKD10,000.00Min. Subscription

USD

HKD15,000.00Min. Subscription

HKD15,000.00

HKD15,000.00

Daily

16:30

2019-09-30

Dividend Records

Dividend DateDividend Records (USD)
2019-08-070.147400
2019-02-130.174600
2018-08-080.128200
2018-02-070.117600
2017-08-090.108800
2017-02-150.131785
2016-08-100.104300
2016-02-150.114500
2015-08-120.092775
2015-02-110.121900
2014-08-130.104700
2014-02-120.080800
2013-08-140.127100
2013-02-180.086200
2012-08-150.131300
2012-02-150.093400
2011-08-180.158800
2011-02-160.206100
2010-08-160.165200
2010-02-220.226000
2009-08-170.262400
2009-02-160.171300
2008-08-180.122600
2008-02-180.071700
2007-08-210.196000
2007-08-200.196000
2007-02-210.587600
2006-08-130.219500
2006-02-050.228100
2005-08-140.187400
2005-08-110.187400
2005-02-210.159850
2005-02-200.159900
2004-08-050.190000
2004-02-250.170000

Investment Objective

The investment objective of the Fund is to provide a total return greater than the Barclays Capital U.S. Government/Credit Bond Index.

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document for details including the risk factors.
• Investment Risk – The value of the Fund’ s investment portfolio may fall due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. There is no guarantee of the repayment of principal.
• Single Country/Specific Region Risk – The Fund’ s investments may be concentrated in a single country or a small number of countries or a specific region. The value of the Fund may be more volatile than a fund having a more diversified portfolio of investments covering multiple countries. The value of the Fund may be more susceptible to an adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the relevant market.
• Eurozone Risk – In light of ongoing concerns on the sovereign debt risk of certain countries within the Eurozone, the Fund’ s investments in the region may be subject to higher volatility, liquidity, currency and default risks. Any adverse events, such as credit downgrade of a sovereign or exit of EU members from the Eurozone, may have a negative impact on the value of the Fund.
• Sovereign Debt Risk – Investing in debt securities issued or guaranteed by governmental entities will subject the Fund to the political, social and economic risks of such entities. In adverse situations, the Fund may be requested to participate in the restructuring of such debt or to extend further loans to government debtors or sovereign issuers may not be able or willing to repay the principal and/or interest when due. The Fund may have limited legal recourse if the debtor defaults and the Fund may suffer loss as a result.
• Below Investment Grade Debt Securities and Unrated Debt Securities Risk – Investing in below investment grade securities and unrated debt securities is more volatile and involves a greater risk of default and price changes due to changes in the issuer’ s creditworthiness. These securities are generally subject to higher volatility and greater risk of loss of principal and interest than high-rated debt securities. Settlement of transactions may be subject to delay and administrative uncertainties. The market for these securities may be illiquid and the Fund may not be able to acquire or dispose of such securities quickly.
• Downgrading Risk – Investment grade securities may be subject to the risk of being downgraded. In the event of downgrading in the credit ratings of a debt instrument or an issuer relating to a debt, the Fund’ s investment value in such security may be adversely affected. The Investment Manager may or may not be able to dispose of the debt instruments that are being downgraded.
• Credit Risk – Investing in debt or other fixed income securities may expose the Fund to credit risk if the issuers of those securities fail to meet their financial obligations, default or suffer insolvency. This would cause the value of the Fund to be affected negatively.
• Interest Rate Risk – Investing in fixed income securities will expose the Fund to movements in interest rates. If rates go up, the value of securities fall and if rates go down, the value of securities rise.
• Valuation Risk – Valuation of the Fund’ s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the Net Asset Value of the Fund.
• Reliability of Credit Ratings – Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.
• Market Risk – The Fund’ s investment in securities is subject to general market risks, and their values may fluctuate due to various factors, such as changes in investor sentiment, political and economic conditions and issuer-specific factors.
• Volatility and Liquidity Risk – The securities in certain 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.
• Currency Risk – The Fund may buy fixed income securities in currencies other than the base currency of the Fund and a share class may be designated in a currency other than the base currency of the Fund. The Net Asset Value of the Fund may be affected unfavourably by fluctuations in the exchange rate between these currencies and the base currency and by changes in exchange rate controls.
• Currency Hedged Share Class Risk – The Fund may issue classes where the class currency is different to the base currency of the Fund. Accordingly the value of an investor’s investment may be affected favourably or unfavourably by fluctuations in the rates of the different currencies. The Fund may create currency hedged share classes to hedge the resulting currency exposure back into the currency of the relevant class. In addition the Fund may invest in assets with various currency denominations other than the base currency, and the Fund may hedge currency exposure due to investing in assets denominated in currencies other than the Fund’ s base currency.
Whilst these hedging strategies aim to reduce the losses to an investor’ s investment if the currency of that currency hedged share class or the currencies of the underlying assets which are denominated in currencies other than the Fund’ s base currency fall against that of the base currency of the Fund the use of hedging strategies may substantially limit investor in the relevant class from benefiting if the currency of that currency hedged share class rises against that of the base currency of the Fund and/ or the currency in which the assets of the Fund are denominated.
Investors should be aware that there may be circumstances in which a hedging transaction may reduce currency gains that would otherwise arise in the valuation of the Fund. The gains/losses on, and the costs of, such hedging transactions will, to the extent permitted by applicable law and regulation, be borne on a pro rata basis by the currency hedged share classes.
Investors in currency hedged share classes should be aware that the currency hedging process for both types of currency hedged share classes may not give a precise hedge. Hedging transactions are designed to reduce, as much as possible, the currency risk for investors. However, there is no guarantee that the hedging will be totally successful and no hedging strategy can eliminate currency risk entirely. Should a hedging strategy be incomplete or unsuccessful, the value of the Fund’s assets and income can remain vulnerable to fluctuations in currency exchange rate movements.
Investors in the currency hedged share classes may have exposure to currencies other than the currency of their share class and may also be exposed to the risks associated with the instruments used in the hedging process.
• Convertible Bond Risk – Convertible bonds are a hybrid between debt and equity, permitting the holders to convert into shares in the company issuing the bond at a specified future date. The Fund may invest in convertible debt securities which will be exposed to equity movement and may show greater volatility than straight bond investments with an increased risk of capital loss. Factors that may affect the value of convertible bonds include credit risk, interest rate risk, liquidity risk and prepayment risk associated with comparable straight bond investments. Convertible bonds may also have call provisions and other features which may give rise to the risk of a call. The value and performance of the Fund may be affected as a result.
• Derivatives Risk – The Fund may use FDIs for purposes of hedging and efficient portfolio management. FDIs that are not traded on an exchange are subject to, among others, liquidity risk (i.e. the risk that the Fund may not be able to close out a derivative position in a timely manner and/or at a reasonable price), counterparty risks (i.e. the risk that a counterparty may become insolvent and therefore unable to meet its obligations under a transaction), valuation risk, volatility risk and over-thecounter transaction risk. The leverage component of an FDI can result in loss significantly greater than the amount invested in the FDI by the Fund. In adverse situations, the use of FDIs may become ineffective in achieving hedging or efficient portfolio management and may lead to a high risk of significant losses by the Fund.
• Risks associated with distributions or paying fees and expenses out of capital – (i) Payment of dividends out of capital or (ii) payment of fees and expenses out of capital to increase distributable income 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 such payments or 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 decrease of the Net Asset Value per Share.

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.