Fidelity Funds - Asian High Yield Fund A MDis HKD

富達基金 - 亞洲高收益基金 A類 MDis 港元

LU0532244745

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 HoursiMonth Plan

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / CHF / HKD / JPY / EUR / GBP / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2021-05-18

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.96%
3 mth
+1.40%
6 mth
+7.13%
1 yr
+21.13%
3 yr
+17.65%
5 yr
+33.82%

Analytical Figures (3 years)

Annualized Return
+5.57%
Annualized Volatility
+11.88%
Sharpe Ratio
+0.40

Fund Information

Fund Houses
FIL Investment Management (Hong Kong) Limited
Launch Date
2010-08-17
Fund Manager
Peter Khan
Terrence Pang
Tae Ho Ryu
Manager Start Date
Peter Khan (Start Date: 2019-01-02) Terrence Pang (Start Date: 2020-07-01) Tae Ho Ryu (Start Date: 2020-07-01)
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Fixed Income - High yield
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 2021-04-29)
EUR 4,312,133,886.488
Management Fee
1.00%
Latest Dividend
HKD 0.036900 (2021-05-02)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

HKD4,000.00Min. Subscription

AUD / CHF / HKD / JPY / EUR / GBP / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

14:00

2021-05-18

Dividend Records

Dividend DateDividend Records (HKD)
2021-05-020.036900
2021-03-310.047500
2021-02-280.031400
2021-01-310.037100
2021-01-030.046200
2020-11-300.039800
2020-11-010.043900
2020-09-300.045200
2020-08-310.037900
2020-08-020.045100
2020-06-300.047300
2020-05-310.045000
2020-04-300.049200
2020-03-310.057900
2020-03-010.044900
2020-02-020.049200
2020-01-010.050000
2019-12-010.042800
2019-10-310.052500
2019-09-300.045200
2019-09-010.045000
2019-07-310.053800
2019-06-300.044100
2019-06-020.051000
2019-04-300.051700
2019-03-310.047500
2019-02-280.039500
2019-02-270.039500
2019-01-310.048900
2019-01-010.043900
2018-12-020.048900
2018-10-310.052700
2018-09-300.043500
2018-09-020.049400
2018-07-310.051200
2018-07-010.045900
2018-05-310.054800
2018-04-300.049100
2018-04-010.049100
2018-02-280.044700
2018-01-310.048700
2018-01-010.044600
2017-11-300.043100
2017-10-310.050500
2017-10-010.042700
2017-08-310.049000
2017-07-310.043900
2017-07-020.043500
2017-05-310.044500
2017-04-300.048500
2017-04-020.039700
2017-02-280.045300
2017-01-310.041400
2017-01-010.042400
2016-11-300.045500
2016-10-310.046400
2016-10-020.045000
2016-08-310.046400
2016-07-310.045000
2016-06-300.045000
2016-05-310.045400
2016-05-010.044700
2016-03-310.046900
2016-02-290.048000
2016-01-310.048200
2016-01-030.048200
2015-11-300.045100
2015-11-010.048800
2015-09-300.044200
2015-08-310.043500
2015-08-020.048500
2015-06-300.046200
2015-05-310.049000
2015-04-300.048400
2015-03-310.048700
2015-03-010.051700
2015-02-010.048400
2015-01-010.050700
2014-11-300.051300
2014-11-020.051500
2014-09-300.051900
2014-08-310.050900
2014-07-310.050000
2014-06-300.051100
2014-06-010.047400
2014-04-300.053800
2014-03-310.055200
2014-03-020.056000
2014-02-020.055200
2014-01-010.059900
2013-12-010.059800
2013-10-310.051600
2013-09-300.052500
2013-09-010.052200
2013-07-310.051300
2013-06-300.052100
2013-06-020.051400
2013-04-300.053100
2013-03-310.051500
2013-02-280.053200
2013-01-310.050300
2013-01-010.051800
2012-12-020.051600
2012-10-310.050800
2012-09-300.050600
2012-09-020.051700
2012-07-310.052600
2012-07-010.053900
2012-05-310.053400
2012-04-300.052400
2012-04-010.051100
2012-02-290.060800
2012-01-310.055600
2012-01-010.055800
2011-11-300.056100
2011-10-310.063000
2011-10-020.058400
2011-08-310.058600
2011-07-310.061500
2011-06-300.064300
2011-05-310.063100
2011-05-010.057400
2011-03-310.058600
2011-02-280.058600
2011-01-310.058100
2011-01-020.057500
2010-11-300.059800
2010-10-310.051700
2010-09-300.073400

Investment Objective

The fund is a Bond fund and seeks a high level of current income and capital appreciation by investing primarily (i.e. at least 70% of the fund's assets) in high yielding, sub investment grade securities of issuers, or in high-yielding securities of sub investment grade issuers, all having their principal business activities in the Asian region. This region includes certain countries considered to be emerging markets.

Nature and Extent of Risks

Investment involves risks.
Please refer to the Hong Kong Prospectus for details including the risk factors.
1. Risk to Capital and Income (Investment Risk)
The assets of the fund are subject to fluctuations in value. There is no guarantee of repayment of principal and you may not get back the original amount invested. Past performance is no guarantee of future performance.
2. Bonds and other Debt Instruments
The value of bonds or other debt instruments will fluctuate depending on e.g. market interest rates, the credit quality of the issuer, the currency of the investment (when it is different from the base currency of the fund) and liquidity considerations. In general, the prices of debt instruments rise when interest rates fall, whilst their prices fall when interest rates rise.
3. Downgrading risk
The credit rating of a debt instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The investment manager may or may not be able to dispose of the debt instruments that are being downgraded.
4. Credit/Default Risk
Investments may be adversely affected if any of the institutions with which money is deposited suffers insolvency or are otherwise unable to pay interest or principal (default). Credit risk also arises from the uncertainty about the ultimate repayment of principal and interest from bond or other debt instrument investments. In both cases the entire deposit or purchase price of the debt instrument is at risk of loss if there is no recovery after default. 5. Credit rating risk
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.
6. 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 calculation of the fund.
7. Risk associated with Debt Securities Rated Below Investment Grade/Unrated Securities and High Yielding Debt Instruments
The fund may invest in debt securities rated below investment grade or unrated securities. Such securities are generally subject to lower liquidity, higher volatility, heightened risk of default and loss of principal and interest than higher-rated/lower yielding debt securities.
Income-producing securities
Although the fund will generally invest in income-producing securities, it is not guaranteed that all underlying investments will generate income. To the extent that underlying investments of the fund are income producing, higher yields generally mean that there will be increased potential for capital appreciation and/or depreciation for fixed income securities.
8. Risk of investing in CoCos and other instruments with loss-absorption features
The fund may invest in instruments with loss-absorption features. Those features have been designed to meet specific regulatory requirements imposed on financial institutions and typically include terms and conditions specifying the instrument is subject to contingent write-down or contingent conversion to ordinary shares on the occurrence of the following: (a) when a financial institution is near or at the point of non-viability; or (b) when the capital ratio of a financial institution falls to a specified level.
Debt instruments with loss-absorption features are subject to greater capital risks when compared to traditional debt instruments as such instruments are typically subject to the risk of being written down or converted to ordinary shares upon the occurrence of pre-defined trigger events (such as those disclosed above). Such trigger events are likely to be outside of the issuer’s control and are complex and difficult to predict and may result in a significant or total reduction in the value of such instruments.
In the event of the activation of a trigger, there may be potential price contagion and volatility to the entire asset class.
9. Debt instruments with loss-absorption features may also be exposed to liquidity, valuation and sector concentration risk. 
The fund may invest in CoCos, which are highly complex and are of high risk. CoCos are a form of hybrid debt security with loss-absorption features that are intended to either convert into equity shares of the issuer (potentially at a discounted price) or have their principal written down (including permanently written down to zero) upon the occurrence of certain ‘triggers’. Coupon payments on CoCos are discretionary and may be cancelled by the issuer at any point, for any reason, and for any length of time.
The fund may also invest in senior non-preferred debts. While these instruments are generally senior to subordinated debts, they may be subject to write-down upon the occurrence of a trigger event and will no longer fall under the creditor ranking hierarchy of the issuer. This may result in total loss principal invested.
10. Emerging Markets
This fund invests in emerging market securities which may involve increased risks and special considerations not typically associated with the investment in securities in more developed markets. The price of these securities may be more volatile and/or less liquid than those of securities in more developed markets.
This volatility or lack of liquidity may stem from political, economic, legal, taxation, settlement, transfer of securities, custody and currency/currency control factors.
Although care is taken to understand and manage these risks, the fund and accordingly the shareholders in the fund will ultimately bear the risks associated with investing in these markets.
11. Foreign Currency Risk
The fund’s assets may be denominated in currencies other than the base currency of the fund. Also, a class of shares may be designated in a currency other than the base currency of the fund. Fluctuations in the exchange rates between these currencies and the base currency as well as changes in exchange rate controls may adversely affect the fund’s net asset value.
12. Risks associated with distribution out of/effectively out of the Fund’s capital
Payment of dividends out of capital and/or effectively out of capital 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 distributions may result in an immediate reduction of the NAV per share/unit.
The distribution amount and net asset value of the hedged share class may be adversely affected by differences in the interest rates of the reference currency of the hedged share class and the fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-hedged share classes.
13. Financial Derivative Instruments
The fund’s net derivative exposure may be up to 50% of its net asset value. The use of derivatives may give rise to liquidity risk, counterparty credit risk, volatility risk, valuations risks and over-the-counter transaction risk at times. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in the financial derivative instrument by the fund. Exposure to financial derivative instruments may lead to a high risk of significant loss by the fund.