Invesco Emerging Market Corporate Bond A MD USD

景順新興市場企業債券基金 A類 MD 美元

LU0607516332

Risk Rating: Level 5

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD10,000.00Min. Subscription

1.50%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD15,000.00

Daily

16:30

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.33%
3 mth
+1.29%
6 mth
+5.33%
1 yr
+12.14%
3 yr
+14.46%
5 yr
+17.97%

Analytical Figures (3 years)

Annualized Return
+4.60%
Annualized Volatility
+4.22%
Sharpe Ratio
+0.50

Fund Information

Fund Houses
Invesco Hong Kong Ltd (Offshore Fund Series)
Launch Date
2011-05-03
Fund Manager
Rashique Rahman
Michael Hyman
Manager Start Date
2016-10-13
2017-06-30
2015-08-19
Geographical Focus
Emerging Markets
Asset Class/ Sector
Fixed Income - Hybrid
Risk Rating
Risk Level 5

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-09-29)
USD 111,728,917.67
Management Fee
1.50%
Latest Dividend
USD 0.041000 (2019-11-03)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD10,000.00Min. Subscription

1.50%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD15,000.00

Daily

16:30

-

Dividend Records

Dividend DateDividend Records (USD)
2019-11-030.041000
2019-09-300.041000
2019-09-010.040900
2019-07-310.041000
2019-06-300.040600
2019-06-020.041900
2019-05-010.042000
2019-03-310.041800
2019-02-280.041700
2019-01-310.041200
2019-01-010.040200
2018-12-020.040100
2018-11-010.040600
2018-09-300.041200
2018-09-020.039200
2018-07-310.040200
2018-07-010.039800
2018-05-310.040500
2018-05-010.041400
2018-04-290.041400
2018-04-020.041900
2018-02-280.042600
2018-01-310.043300
2018-01-010.043200
2017-11-300.043200
2017-11-010.043400
2017-10-010.043300
2017-08-310.043200
2017-07-310.042900
2017-07-020.042700
2017-05-310.043100
2017-05-010.042900
2017-04-020.042700
2017-02-280.042800
2017-01-310.042400
2017-01-020.041900
2016-11-300.041600
2016-11-010.042800
2016-10-020.043000
2016-08-310.043100
2016-08-300.043100
2016-07-310.042700
2016-06-300.042100
2016-05-310.043700
2016-05-010.043900
2016-03-310.043400
2016-02-290.040200
2016-01-310.040200
2016-01-030.040900
2015-11-300.042100
2015-11-010.041900
2015-09-300.041300
2015-08-310.044200
2015-08-020.045200
2015-06-300.045300
2015-05-310.046400
2015-05-030.046500
2015-03-310.045700
2015-03-010.041500
2015-02-010.041000
2015-01-010.041000
2014-11-300.042300
2014-11-020.042900
2014-09-300.042500
2014-08-310.043500
2014-07-310.043400
2014-06-300.043300
2014-06-010.042900
2014-05-010.041900
2014-03-310.041600
2014-03-020.039300
2014-02-020.038700
2014-01-010.038800
2013-12-010.038900
2013-11-030.039600
2013-09-300.038600
2013-09-010.038000
2013-07-310.039400
2013-06-300.039000
2013-06-020.041500
2013-05-010.042100
2013-04-010.042000
2013-02-280.044300
2013-01-310.044700
2013-01-010.044400
2012-12-020.044000
2012-11-010.043800
2012-09-300.043100
2012-09-020.042500
2012-07-310.042000
2012-07-010.040800
2012-05-310.040100
2012-05-010.041100
2012-04-010.040900
2012-02-290.040600
2012-01-310.039800
2012-01-020.038700
2011-11-300.038200
2011-11-010.039100
2011-10-020.036600
2011-08-310.039800
2011-07-310.040700
2011-06-300.039900

Investment Objective

The objective of the Fund is to achieve a high income yield and long-term capital appreciation by investing primarily in debt securities of emerging market corporate issuers. The Investment Adviser intends to invest in securities and financial derivative instruments within the investment universe which is defined as all cash, debt securities (including asset backed securities), financial derivative instruments on debt and credit markets and all currencies worldwide.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus for details including the risks factors.
1. Credit risk
- Investment in bonds or other fixed income securities are subject to the risk that issuers not make payments on interest and principal of such securities. An issuer suffering from an adverse change in its financial condition could lower the quality of a security leading to greater price volatility on that security thereby adversely impacting the Fund and/or the interests of investors.
- A security having a low credit rating (e.g. non-investment grade bonds) may also offset such security’s liquidity, making it more difficult to sell. As the Fund may invest in non-investment grade bonds, it is more susceptible to these problems and the value of such securities may be more volatile. This may, in turn, have an adverse effect on the net asset value of the Fund.
- In the event of a bankruptcy or other default of the issuer, the Fund may experience both delays in liquidating the underlying securities and loses including a possible decline in value of the underlying securities during the period when the Fund seeks to enforce its rights thereto. This will have an adverse impact on the Fund and/or the interests of investors.
- Securities which were investment grade at the time of acquisition may be downgraded. The risk of any such downgrading will vary over time. The Fund’s investment policy does not specifically require the Fund to sell such securities if they should fall below investment grade. Investments in below investment grade securities carry a higher risk of default and therefore may adversely impact the Fund and/or the interests of investors.
2. Risk of investing in non-investment grade bonds/high yield bonds - The Fund may invest in non-investment grade bonds/high yield bonds which involve substantial risk. These bonds are regarded as being predominately speculative as to the issuer’s ability to make payments of principal and interest. Issuers of high yield debt securities may be highly leveraged and may not have available to them more traditional methods of financing. An economic recession may adversely affect an issuer’s financial condition and the market value of high yield bonds issued by such entity and due to the Fund’s investment in high yield debt securities, in turn adversely impact the Fund and/or the interests of investors.
3. Interest rate risk - The bonds or fixed income securities that the Fund invests in may fall in value if the interest rates change and this will adversely impact the net asset value of the Fund. Longer term debt securities are usually more sensitive to interest rate changes.
4. Risk of investing in developing markets - Investing in emerging markets including Russia and Ukraine involves certain risks such as higher price volatility, less publicly-available information, liquidity and regulatory risk, which could adversely impact the Fund and/or the interests of investors.
5. Counterparty risk - The Fund will be exposed to credit risk on the counterparties with which it trades in relation to FDI contracts that are not traded on a recognised exchange. The Fund will bear the risk of the counterparty’s insolvency, bankruptcy or default or a delay in settlement due to a credit or liquidity problem affecting the counterparty. Thus, may adversely impact the Fund and/or the interests of investors.
6. Investment risk - There can be no assurance that the Fund will achieve its investment objective. There is no guarantee of the repayment of principal. The instruments invested by the Fund may fall in value.
7. Risk relating to those Share Classes denominated/dealt in a different currency than the base currency –
For those classes of Shares denominated/dealt in a different currency than the base currency, due to fluctuations in currency markets, returns to investors, when converted back into the currency in which the investor subscribes and redeems, may be different to the return calculated by reference to the base currency. This means the returns may go down and adversely impact the investors.
Therefore, the value of those investments (when converted to the base currency of that Fund) may fluctuate due to changes in exchange rates. The price of shares/units and the income from them can go down as well as up and investors may not realise their initial investment.
For the Hedged Share Classes, there is no guarantee that the exposure of the currency in which the Shares are denominated can be fully hedged at all times against the base currency of the Fund. Investors should also note that the successful implementation of the strategy may substantially reduce the benefit to Shareholders in the relevant class of Shares, or decrease the value of the Share class currency against the base currency of the Fund. In the event that they request payment of redemption proceeds in a currency other than the currency in which the Shares are denominated, the exposure of that currency to the currency in which the Shares are denominated will not be hedged.
8. Concentration risk - As the Fund will invest in debt securities of emerging market corporate issuers, such concentration in a particular geographical region/sector may lead to higher volatility than more diversified funds.
9. Risks associated with payment of fees and expenses out of capital - In respect of fixed distribution share classes, investors should note that, the Fund manager may at its discretion pay dividend out of gross income while charging/paying all or part of the share class’s fees and expenses out of the capital of the share class, resulting in an increase in distributable income for the payment of dividends by the share class and therefore, the share class may effectively pay dividend out of capital. Payment of dividends 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 distributions involving payment of dividends effectively out of the share class’s capital may result in an immediate reduction of the net asset value per share in respect of such share class after the monthly distribution date. Such policy may be amended upon prior approval from the SFC and 1 month’s prior notice to affected shareholders.
10. Risk of Eurozone crisis - The Fund may have significant investment exposure to the Eurozone or the Euro. In light of the current concerns on the sovereign debt risk of certain countries within the Eurozone, the Fund’s investments in the region which are denominated in Euro may experience increased volatility. Any adverse events (such as downgrade of the sovereign credit rating or default of a sovereign, or departure of one or more EU member states from the Eurozone resulting in, in particular but not limited to, the European single currency ceasing to exist or currency denomination) may have a negative impact on the value and liquidity of the Fund’s investments, and may ultimately impact the performance of the Fund and/or the interests of investors.
11. Risks for investing in FDI - Investments of the Fund may be composed of securities with varying degrees of volatility and may comprise, from time to time, FDI used as part of the principal investment policies and strategies. Should the Investment Adviser’s expectations in employing such techniques and FDI be incorrect or ineffective, the Fund may suffer a substantial loss having an adverse effect on the net asset value of the Shares. Since financial derivative instruments may be geared instruments, their use may result in greater fluctuations of the net asset value of the Fund. The use of FDI also involves special risks including but not limited to:
1. the Investment Adviser’s ability to accurately predict movements in the price of the underlying security;
2. an imperfect correlation between the movements in relevant securities or currencies;
3. the absence of a liquid market for any particular instrument at any particular time; and
4. the degree of leverage inherent in futures trading; accordingly, a relatively small price movement in a futures contract may result in an immediate and substantial loss to the Fund.

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852
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