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Invesco Emerging Markets Bond Fund A MDis HKD

景順新興市場債券基金 A類 MDis 港元

LU1775955435

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 Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.00%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-02-11

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-0.44%
3 mth
+5.31%
6 mth
+6.93%
1 yr
+3.07%
3 yr
+7.52%
5 yr
+34.88%

Analytical Figures (3 years)

Annualized Return
+2.45%
Annualized Volatility
+13.77%
Sharpe Ratio
+0.19

Fund Information

Fund Houses
Invesco Hong Kong Ltd (Offshore Fund Series)
Launch Date
2018-10-07
Fund Manager
Michael Hyman
Robert Turner
Jason Trujillo
Manager Start Date
Michael Hyman (Start Date: 2018-10-08) Robert Turner (Start Date: 2018-10-08) Jason Trujillo (Start Date: 2020-08-31)
Geographical Focus
Emerging Markets
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 2020-12-30)
USD 174,202,177
Management Fee
1.00%
Latest Dividend
HKD 0.290700 (2021-01-03)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.00%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-02-11

Dividend Records

Dividend DateDividend Records (HKD)
2021-01-030.290700
2020-11-300.281400
2020-11-010.300800
2020-09-300.289100
2020-08-310.294500
2020-08-020.269700
2020-06-300.292200
2020-06-010.235700
2020-05-030.282900
2020-03-310.373700
2020-03-010.339000
2020-02-020.362000
2020-01-010.406500
2019-12-010.347500
2019-11-030.365900
2019-09-300.359100
2019-09-010.359200
2019-07-310.424200
2019-06-300.348300
2019-06-020.408600
2019-05-010.408000
2019-03-310.402700
2019-02-280.346200
2019-01-310.349200
2019-01-010.351700
2018-12-020.423200
2018-11-010.315400
2018-09-240.315500
2018-09-020.387000
2018-07-310.425400
2018-07-010.400900
2018-05-310.447400
2018-04-300.436400
2018-04-020.424600
2018-02-280.409400
2018-01-310.394900
2018-01-010.368900
2017-11-300.364700
2017-10-310.456300
2017-10-010.457700
2017-08-310.446800
2017-07-310.488900
2017-07-020.493300
2017-05-310.455800
2017-05-010.353100
2017-04-020.439000
2017-02-280.433900
2017-01-310.446800
2017-01-020.438100
2016-11-300.452200
2016-10-310.420300
2016-10-020.455100
2016-08-310.445200
2016-08-010.387100
2016-06-300.378700
2016-05-310.487800
2016-05-020.667100
2016-03-310.404800
2016-02-290.315600
2016-01-310.359900
2016-01-030.444900
2015-11-300.416200
2015-11-010.278200
2015-09-300.317000
2015-08-310.355700
2015-08-030.363600
2015-06-300.385300
2015-06-010.350500
2015-04-300.392900
2015-03-310.422600
2015-03-010.321800
2015-02-010.374400
2015-01-010.446700
2014-11-300.353500
2014-11-020.435100
2014-09-300.405500
2014-08-310.383600
2014-07-310.419300
2014-06-300.382900
2014-06-020.342700
2014-04-300.435700
2014-03-310.366200
2014-03-020.388800
2014-02-020.399100
2014-01-010.407900
2013-12-010.383800
2013-10-310.390800
2013-09-300.391600
2013-09-010.433500
2013-07-310.479200
2013-06-300.354500
2013-06-030.424700
2013-04-300.462600
2013-04-010.401400
2013-02-280.385500
2013-01-310.363000
2013-01-010.437900
2012-12-020.364300
2012-10-310.424700
2012-09-300.308600
2012-09-020.356000
2012-07-310.421800
2012-07-010.338200
2012-05-310.426200
2012-04-300.436000
2012-04-010.384300
2012-02-290.359100
2012-01-310.377700
2012-01-020.444300
2011-11-300.407100
2011-10-310.535000
2011-10-020.432400
2011-08-310.440400
2011-08-010.276700

Investment Objective

The Fund aims to achieve a high level of income together with long term capital growth. The Fund seeks to achieve its objective by investing primarily (at least 70% of the net asset value of the Fund) in debt securities of issuers in emerging market countries, which may be listed or traded elsewhere.

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. 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. 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 un-rated 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.
6. 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.
7. 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.
8. 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.
9. Concentration risk
- As the Fund will invest primarily in debt securities of issuers in emerging markets, 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.
10. 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.
11. Risk of investing convertibles/convertible bonds/convertible debts
- Convertibles/convertible bonds/convertible debts are a hybrid between debt and equity, typically permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles/convertible bonds/convertible debts may be exposed to equity movement and greater volatility than non-convertibles/convertible bonds/convertible debts investments. Investments in convertibles/convertible bonds/convertible debts are subject to the similar interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable non-convertibles/convertible bonds/convertible debts investments.
12. Risk of investing in financial derivative instruments ("FDI") for efficient portfolio management and hedging purpose and 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 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.
13. 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/volatility and equity 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 (i.e. debt securities) held by the Fund.
14. Risks associated with payment of dividends and/or fees and expenses out of 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 net asset value per share in respect of such share class after the monthly distribution date.
- For Monthly Distribution-1 share classes that are currency hedged, the Fund may take into account the return driven by the interest rate differential between the currency in which the hedged Monthly Distribution-1 share class is denominated and the base currency of the Fund in determining the distribution to be paid. Investors should be aware that the uncertainty of relative interest rates which will have an impact on the return of the hedged Monthly Distribution–1 share class. The net asset value of the Monthly Distribution-1 hedged share class may fluctuate and may significantly differ from other share class due to the fluctuation of the interest rate differential between the currency in which the hedged Monthly Distribution-1 share class is denominated and the base currency of the Fund, and may result 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 class. Investors in such share class may therefore be adversely affected.
15. Contingent convertibles risk
- Contingent convertible bonds are a type of debt security, issued by a financial institution that may be converted into equity or could be forced to suffer a write down of principal upon the occurrence of a pre-determined trigger event. The trigger event is ordinarily linked to the financial position of the issuer. In stressed market conditions, the liquidity profile of the issuer can deteriorate significantly and a significant discount may be required in order to sell the contingent convertible bonds.
- Contingent convertible bonds can carry higher risk than investment in traditional debt instruments/ convertibles and in certain cases equities since coupon payments may be discretionary and can be cancelled at any time for any reason.
- Contingent convertible bonds can also be exposed to several other risks, including but not limited to trigger level risk, capital structure inversion risk, call extension risk, unknown/uncertainty risk and valuation risk.