Invesco PRC Equity Fund A Acc EUR (Hedged)

景順中國基金 A類 Acc 歐元 (對沖)

LU1775964932

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 not required

HKD10,000.00Min. Subscription

1.75%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-05-18

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-5.69%
3 mth
-22.59%
6 mth
-3.53%
1 yr
+25.89%
3 yr
+2.05%
5 yr
+65.00%

Analytical Figures (3 years)

Annualized Return
+0.68%
Annualized Volatility
+25.47%
Sharpe Ratio
+0.20

Fund Information

Fund Houses
Invesco Hong Kong Ltd (Offshore Fund Series)
Launch Date
2018-10-08
Fund Manager
Mike Shiao
William Yuen
Manager Start Date
7/9/2018
Geographical Focus
China
Asset Class/ Sector
Equity - All cap
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 2021-04-29)
USD 480,938,713
Management Fee
1.75%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.75%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-05-18

Dividend Records

No Dividends

Investment Objective

The Fund aims to achieve long-term capital growth.

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.
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 or the currency or currencies in which the assets of the Fund are denominated. Investors should also note that the successful implementation of the strategy may substantially reduce the benefit to shareholders in the relevant class of shares as a result of decreases in the value of the share class currency against the base currency of the Fund. In the event that investors 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.
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. Equities risk
The value of, and income derived from, equity securities held may fall as well as rise and the Fund may not recoup the original amount invested in such securities. The prices of and the income generated by equity securities may decline in response to certain events, including the activities and results of the issuer, general political, economic and market conditions, regional or global economic instability and currency and interest rate fluctuations. Thus, this may adversely impact the Fund and/or the interests of investors.
5. 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.
6. Concentration risk
As the Fund will invest primarily in equities and equity related securities with substantial exposure to PRC, such concentration may exhibit a higher than usual degree of risk and the Fund 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.
The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event and natural disaster affecting the market in the PRC.
7. Emerging markets risk
The Fund invests in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets such as, liquidity risk, currency risks/ control, political and economic uncertainties, policy, legal or regulatory event affecting the relevant markets and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
8. Risk associated with investment in China
The Fund may invest in securities or instruments which have exposure to the Chinese market. Investors should note the differences in accounting and disclosure practices in China.
The value of the Fund’s assets may be affected by uncertainties such as changes in government policies, taxation, currency repatriation restrictions, permitted foreign ownership levels, and other developments in the law or regulations of China.
9. From 29 July 2020: Stock Connect Risk
The relevant rules and regulations on Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the Fund’s ability to invest in China A shares or access the Chinese market through the programme will be adversely affected. In such event, the Fund’s ability to achieve its investment objective could be negatively affected.
10. From 29 July 2020: Risk associated with Small and Medium Enterprises board and/or ChiNext market
The Fund may invest in the Small and Medium Enterprise board and/or the ChiNext market of the Shenzhen Stock Exchange via the Shenzhen-Hong Kong Stock Connect. Investments in the Small and Medium Enterprise board and/or the ChiNext market involves additional risks (including higher fluctuation in stock prices, over-valuation risk, differences in regulations and delisting risk), and may result in significant losses for the Fund and its investors.
11. From 29 July 2020: RMB currency and conversion risks
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.
12. From 29 July 2020: PRC tax risk
There are risks and uncertainties associated with the current PRC tax laws, regulations and practice in respect of capital gains realised via Stock Connect or access products on the Fund’s investments in the PRC (which may have retrospective effect). Any increased tax liabilities on the Fund may adversely affect the Fund’s value.
Based on professional and independent tax advice, the Fund currently does not make tax provisions on capital gains on the Fund’s investments via Stock Connect or access products.
13. Risk of investing in financial derivative instruments ("FDI") for efficient portfolio management and hedging 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.