First State Asia Opportunities Fund I Acc USD

首域亞洲機遇基金 I類 Acc 美元

IE0009570106

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.

Dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD15,000.00Min. Subscription

1.75%

HKD10,000.00Min. Subscription

USD

HKD15,000.00Min. Subscription

HKD15,000.00

HKD15,000.00

Daily

16:30

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+3.34%
3 mth
+5.71%
6 mth
+6.72%
1 yr
+13.17%
3 yr
+30.52%
5 yr
+28.53%

Analytical Figures (3 years)

Annualized Return
+9.28%
Annualized Volatility
+10.38%
Sharpe Ratio
+0.59

Fund Information

Fund Houses
First State Investments
Launch Date
2002-10-17
Fund Manager
Richard Jones
Alistair Thompson
Manager Start Date
2011-07-01
2013-07-01
Geographical Focus
Asia
Asset Class/ Sector
Equity - All cap
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 2019-11-20)
USD 28,706,481.437
Management Fee
1.75%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD15,000.00Min. Subscription

1.75%

HKD10,000.00Min. Subscription

USD

HKD15,000.00Min. Subscription

HKD15,000.00

HKD15,000.00

Daily

16:30

-

Dividend Records

No Dividends

Investment Objective

The investment objective of the Fund is to achieve long term capital appreciation.

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 shares in the Fund 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.
Market Risk – Certain situations may have a negative effect on the price of shares within a particular market or cause fluctuation of the value of the Fund’s investment in equity securities. These may include regulatory changes, political changes, economic changes, technological changes, changes in the social environment, changes in investment entiment and issuers specific factors.
Emerging Market Risk – Investing in emerging markets (countries considered to have social or business activity in the process of rapid growth and development) may involve increased risks and special considerations not typically associated with investment in developed markets. These risks may include liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risks, the likelihood of a high degree of volatility, market suspension, restrictions on foreign investment and control on repatriation of capital.
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.
Concentrated Risk – The Fund invests in a relatively small number of companies. It may be subject to greater risk of the Fund suffering proportionately higher loss should the shares in a particular company decline in value or otherwise be adversely affected than a fund that invests in a large number of companies. Although the Fund has a global or regional investment universe, it may at times invest a large portion of its assets in certain geographical area(s) or countries.
Single Sector Risk – The Fund’s investments may be concentrated in a single sector. Investing in a single sector offers the potential of higher returns but the value of the Fund may be more volatile than a fund having a more diversified portfolio of investments.
China Market Risk – The Fund may invest in securities linked to the China markets, including China A Shares through the RQFII quota of a First State group entity, the Stock Connects, equity linked or participation notes and collective investment schemes investing in China A Shares. Such investments involve risks associated with investing in the China markets, including liquidity and volatility risk, foreign exchange, currency and repatriation risk, changes in social, political or economic policies, legal or regulatory event and uncertainties with respect to taxation policies. Securities exchanges in China typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Fund. There may be a lower level of liquidity in the China A Share markets, which are relatively smaller in terms of both combined total market value and the number of China A Shares which are available for investment as compared with other markets. This could potentially lead to severe price volatility. High market volatility and potential settlement difficulties in the Chinese market may also result in significant fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Fund. The Fund’s investments in the China markets may as a result incur significant losses.
RMB Currency and Conversion Risk – Renminbi (“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 HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the 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.
Risks associated with investments via Stock Connects – The relevant regulations and rules on Stock Connects are subject to change which may have potential retrospective effect. The Stock Connects are subject to quota limitations which may restrict the Fund’s ability to invest in certain eligible shares listed on the Shanghai Stock Exchange (“SSE securities”) or Shenzhen Stock Exchange (“SZSE securities”) on a timely basis and as a result, the Fund’s ability to access the SSE securities market and SZSE securities market via the Stock Connects (and hence to pursue its investment strategy) may be adversely affected. The PRC regulations impose certain restrictions on selling and buying. Hence the Fund may not be able to dispose of holdings of SSE securities and SZSE securities in a timely manner. Where a suspension in the trading through the Stock Connects is effected, the Fund’s ability to invest in China A Shares or access the PRC market through the Stock Connects will be adversely affected. In such event, the Fund’s ability to achieve its investment objective could be negatively affected.
Risks associated with the SME board and/or ChiNext market - The Fund may invest in the Small and Medium Enterprise (“SME”) board and/or the ChiNext market of the SZSE via the Shenzhen-Hong Kong Stock Connect. Investments in the SME board and/or ChiNext market may result in significant losses for the Fund and its investors, and will be subject to additional risks, including higher fluctuation on stock prices, over-valuation risk, differences in regulations and delisting risk.
PRC Tax risk – There are risks and uncertainties associated with the current PRC tax laws, regulations and practice in respect of capital gains realized via RQFII quota, the Stock Connects or access products on the Fund’s investments in the PRC (which may have retrospective effect). The Investment Manager currently does not intend to make any provisions for PRC taxes in relation to the Fund’s investments in securities that are linked to the China markets. If such PRC taxes are imposed on the Fund, the Net Asset Value of the Fund may be adversely impacted and investors may as a result suffer loss.
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 shares denominated 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 value of shares in the Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency of the Fund 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 investors 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.
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/credit 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 overthe-counter 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.

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