Invesco Euro Corporate Bond Fund Class A-MD EUR

景順歐洲企業債券基金 A類 MD 歐元

LU0248037169

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 HoursComplex

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD10,000.00Min. Subscription

1.00%

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
-0.08%
3 mth
+0.03%
6 mth
+3.38%
1 yr
+6.79%
3 yr
+7.97%
5 yr
+9.55%

Analytical Figures (3 years)

Annualized Return
+2.59%
Annualized Volatility
+2.79%
Sharpe Ratio
+0.98

Fund Information

Fund Houses
Invesco Hong Kong Ltd (Offshore Fund Series)
Launch Date
2006-03-30
Fund Manager
Paul Read
Julien Eberhardt
Manager Start Date
2006-03-31
2016-12-31
Geographical Focus
Europe
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)
USD 2,078,344,702.7
Management Fee
1.00%
Latest Dividend
EUR 0.013600 (2019-11-03)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD10,000.00Min. Subscription

1.00%

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 (EUR)
2019-11-030.013600
2019-09-300.011800
2019-09-010.011700
2019-07-310.014500
2019-06-300.011400
2019-06-020.014500
2019-05-010.015200
2019-03-310.013600
2019-02-280.015600
2019-01-310.016600
2019-01-010.015200
2018-12-020.015300
2018-11-010.016900
2018-09-300.014800
2018-09-020.015600
2018-07-310.016200
2018-07-010.014300
2018-05-310.014200
2018-05-010.013900
2018-04-020.012300
2018-02-280.014800
2018-01-310.015000
2018-01-010.014000
2017-11-300.014600
2017-11-010.015000
2017-10-010.014400
2017-08-310.015700
2017-07-310.016300
2017-07-020.016000
2017-05-310.017600
2017-05-010.015300
2017-04-020.017900
2017-02-280.017200
2017-01-310.018400
2017-01-020.017500
2016-11-300.016500
2016-11-010.016600
2016-10-020.015700
2016-08-310.017800
2016-07-310.016000
2016-06-300.015900
2016-05-310.017700
2016-05-010.016200
2016-03-310.017000
2016-02-290.017900
2016-01-310.015300
2016-01-030.016200
2015-11-300.015500
2015-11-010.014300
2015-09-300.015400
2015-08-310.015800
2015-08-020.016100
2015-06-300.015400
2015-05-310.013300
2015-05-030.015200
2015-03-310.017700
2015-03-010.014700
2015-02-010.016800
2015-01-010.021000
2014-11-300.018600
2014-11-020.021600
2014-09-300.021600
2014-08-310.020500
2014-07-310.023600
2014-06-300.027200
2014-06-010.023500
2014-05-010.024000
2014-03-310.025600
2014-03-020.025400
2014-02-020.028500
2014-01-010.030700
2013-12-010.028200
2013-11-030.031300
2013-09-300.031000
2013-09-010.029200
2013-07-310.033400
2013-06-300.031300
2013-06-020.029000
2013-05-010.030900
2013-04-010.027700
2013-02-280.021800
2013-01-310.022900
2013-01-010.023200
2012-12-020.022200
2012-11-010.023400
2012-09-300.023200
2012-09-020.028300
2012-07-310.031600
2012-07-010.029000
2012-05-310.030500
2012-05-010.030600
2012-04-010.030400
2012-02-290.032500
2012-01-310.036700
2012-01-020.035800
2011-11-300.035000
2011-11-010.037100
2011-10-020.037100
2011-08-310.037500
2011-07-310.029800
2011-06-300.031100
2011-05-310.032900
2011-05-010.029000
2011-03-310.029100
2011-02-280.027400
2011-01-310.030200
2011-01-030.030600
2010-11-300.029900
2010-11-010.027800
2010-09-300.027500
2010-08-310.029900
2010-08-010.031000
2010-06-300.029500
2010-05-310.031000
2010-05-020.029100
2010-03-310.033000
2010-02-280.031900
2010-01-310.035100
2010-01-030.044000
2009-11-300.032700
2009-11-010.030200
2009-09-300.031900
2009-08-310.037400
2009-08-030.035000
2009-06-300.025000
2009-06-010.027900
2009-04-300.032200
2009-03-310.029200
2009-03-010.029000
2009-02-010.027700
2009-01-010.034600
2008-11-300.039700
2008-11-020.045000
2008-09-300.037900
2008-08-310.033000
2008-07-310.043500
2008-06-300.023500
2008-06-010.033400
2008-05-010.034600
2008-03-310.031900
2008-03-020.032800
2008-01-310.031000
2008-01-010.025200
2007-12-020.038500
2007-11-010.024100
2007-09-300.029800
2007-09-020.028300
2007-07-310.028500
2007-07-010.030300
2007-05-310.026200
2007-05-010.025000
2007-04-010.029900
2007-02-280.023900
2007-01-300.029400
2007-01-010.027700
2006-11-290.065700
2006-10-300.023100
2006-10-010.026700
2006-08-300.011800
2006-07-310.052200

Investment Objective

The Fund aims to achieve a combination of income and capital growth over the medium to long-term.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus for details including the risks factors.
1. General investment risk
There can be no assurance that the Fund will achieve its investment objective. The instruments invested by the Fund may fall in value 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.
2. Currency exchange risk
The Fund's assets may be invested in securities 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. The net asset value of the Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
3. Volatility risk
Investors should note that volatility in the Fund's investment portfolio may result in large fluctuations in the net asset value of the Fund which may adversely affect the net asset value per share of the Fund and investors may as a result suffer losses.
4. Credit risk
- Investment in bonds, debt or other fixed income securities (including corporate and sovereign bonds) are subject to the risk that issuers do 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.
- 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. Besides, the Investment Manager and/or Investment Sub-Manager (if applicable) may not be able to dispose of the debt instruments that are being downgraded. 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.
5. 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. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. Longer term debt securities are usually more sensitive to interest rate changes.
6. Liquidity risk
The Fund may be adversely affected by a decrease in market liquidity for the securities in which it invests where some of the Fund's securities may become illiquid and the Fund may experience difficulties in selling securities at a fair price within a timely manner.
7. 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.
8. Concentration risk
As the Fund will invest primarily in debt securities or instruments denominated in Euro issued by corporate issuers, such concentration may exhibit a higher than usual degree of risk and may be subject to above average volatility. The diversification benefits that would ordinarily accrue from investment in a fund having a more diverse portfolio of investments, may not apply to this Fund.
9. Risk of investing convertibles/convertible bonds/convertible debts
Convertibles/convertible bonds/convertible debts are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles/convertible bonds/convertible debts will be exposed to equity movement and greater volatility than straight bond investments. Investments in convertibles/convertible bonds/convertible debts are subject to the same interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments.
10. Risk of Eurozone crisis
The Fund may have significant investment exposure to the Eurozone or the Euro. 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 or other adverse economic, political, policy, foreign exchange, tax, legal or regulatory event affecting the Eurozone markets, may have a negative impact on the value of the Fund.
11. Risk of investing in high yield bonds/non-investment grade bonds and un-rated bonds
The Fund may invest in high yield bonds/ non-investment grade bonds and un-rated bonds which involve substantial risk. High yield bonds/non-investment grade bonds and un-rated bonds are regarded as being predominantly speculative as to the issuer's ability to make payments of principal and interest. Issuers of high yield bonds/ non-investment grade bonds and unrated bonds may be highly leveraged, subject to lower liquidity and higher volatility 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/ non-investment grade bonds and un-rated bonds issued by such entity. High yield bonds/ non-investment grade bonds and un-rated bonds are generally subject to greater loss of principal and interest than high-rated bonds. As such, this may adversely impact the Fund and/or the interests of investors.
12. Sovereign debt risk
The Fund's investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the Fund to participate in restructuring such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers.
13. Risk of investing in perpetual bonds
The Fund is permitted to invest in perpetual bonds. Perpetual bonds (bonds without a maturity date) may be exposed to additional liquidity risk in certain market conditions. The liquidity for such investments in stressed market environments may be limited, negatively impacting the price they may be sold at, which in turn may negatively impact the Fund's performance.
14. Risk of investing in financial derivative instruments ("FDI") for efficient portfolio management and hedging purpose and extensively for investment purposes
Investments of the Fund may be composed of FDI used for efficient portfolio management or to attempt to hedge or reduce the overall risk of its investments. Risks associated with FDI include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a FDI can result in a loss significantly greater than the amount invested in the FDI by the Fund. Exposure to FDI may lead to a high risk of significant loss by the Fund. As well as the risks identified above, the Fund may use derivatives extensively for investment purposes and may be exposed to additional leveraged risk, which may result in significant fluctuations of the net asset value of the Fund and/or extreme losses where the Investment Manager is not successful in predicting market movements. This in turn may lead to an increase in the risk profile of the Fund.
15. Risks of implementing active FDI positions not correlated with underlying asset of the Fund
As the active FDI positions (including active currency/interest rate/credit positions) implemented by the Fund may not be correlated with the underlying securities positions held by the Fund (i.e. debt securities), the Fund may suffer a significant or total loss even if there is no loss of the value of the underlying securities positions being debt securities held by the Fund.
16. High leverage risk
The Fund may have net leveraged exposure of more than 100% of its net assets value and is therefore subject to high leverage risk. This will further magnify any potential negative impact of any change in the value of the underlying asset on the Fund and also increase the volatility of the Fund's price and may lead to significant losses.

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