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JPM Asia Pacific Income Fund A MDis HKD

JPM 亞太入息基金 A類 MDis 港元

LU0784638990

Risk Rating: Level 3

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.

On HolidayMonthly Savings

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.50%

(maximum 3.0%)

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2020-10-25

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.90%
3 mth
+3.05%
6 mth
+13.87%
1 yr
-1.16%
3 yr
+3.25%
5 yr
+20.92%

Analytical Figures (3 years)

Annualized Return
+1.07%
Annualized Volatility
+11.83%
Sharpe Ratio
+0.01

Fund Information

Fund Houses
JPMorgan Funds (Asia) Ltd.
Launch Date
2012-05-24
Fund Manager
Jeffrey Roskell
Julie Ho
Shaw Ho
Ruben Lienhard
Selina Yu
Manager Start Date
2010-02-01
2014-01-01
2014-01-01
2018-06-01
2018-02-26
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Balanced
Risk Rating
Risk Level 3

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 2020-10-21)
USD 1,737,508,316.66
Management Fee
1.50% (maximum 3.0%)
Latest Dividend
HKD 0.041000 (2020-10-07)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.50%

(maximum 3.0%)

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2020-10-25

Dividend Records

Dividend DateDividend Records (HKD)
2020-10-070.041000
2020-09-080.041000
2020-08-090.041000
2020-07-070.047000
2020-06-080.047000
2020-05-070.047000
2020-04-070.045000
2020-03-090.047000
2020-02-090.047000
2020-01-070.048000
2019-12-090.048000
2019-11-070.048000
2019-10-080.047000
2019-09-090.047000
2019-08-070.047000
2019-07-080.048000
2019-06-110.048000
2019-05-070.048000
2019-04-080.049000
2019-03-070.049000
2019-02-100.049000
2019-01-070.048000
2018-12-030.048000
2018-11-070.048000
2018-10-090.049000
2018-09-090.049000
2018-08-070.049000
2018-07-090.052000
2018-06-070.052000
2018-05-070.052000
2018-04-090.048000
2018-03-070.048000
2018-02-070.048000
2018-01-080.048000
2017-12-070.048000
2017-11-070.048000
2017-10-100.045000
2017-09-070.045000
2017-08-070.045000
2017-07-090.045000
2017-06-070.045000
2017-05-080.045000
2017-04-090.046000
2017-03-070.046000
2017-02-070.046000
2017-01-090.047000
2016-12-070.047000
2016-11-070.047000
2016-10-110.046000
2016-09-110.046000
2016-08-080.046000
2016-07-070.045000
2016-06-070.045000
2016-05-090.045000
2016-04-070.052000
2016-03-070.052000
2016-02-110.052000
2016-01-070.050000
2015-12-070.050000
2015-11-090.050000
2015-10-070.052000
2015-09-080.052000
2015-08-090.052000
2015-07-070.050000
2015-06-080.050000
2015-05-070.050000
2015-04-070.052000
2015-03-090.052000
2015-02-090.052000
2015-01-070.053000
2014-12-080.053000
2014-11-090.053000
2014-10-070.050000
2014-09-080.050000
2014-08-070.050000
2014-07-070.050000
2014-06-100.051000
2014-05-070.051000
2014-04-070.055000
2014-03-090.055000
2014-02-090.055003
2014-01-070.055000
2013-12-090.054999
2013-11-070.055000
2013-10-070.060002
2013-09-090.060002
2013-08-070.059997
2013-07-080.056003
2013-06-090.056002
2013-05-070.056000
2013-04-080.059998
2013-03-070.059992
2013-02-070.059995
2013-01-070.060000
2012-12-090.060000
2012-11-060.060000
2012-10-040.060000
2012-09-040.060000
2012-08-070.062000
2012-07-080.057000

Investment Objective

To provide income and long term capital growth by investing primarily in income generating securities of countries in the Asia Pacific region (excluding Japan).

Nature and Extent of Risks

Investment involves risk. Please refer to the offering document(s) for details, including the risk factors.
1. Derivative risk – The Fund may acquire derivatives, including over-the-counter derivatives, and may therefore be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses. Valuation of derivatives may involve uncertainties. If valuation turns out to be incorrect, they may affect the net asset value calculation of the Fund. Other risks associated with derivatives include liquidity risk and volatility risk. A small movement in the value of the underlying asset can cause a large movement in the value of the derivatives and therefore, investment in derivatives may result in losses in excess of the amount invested by the Fund and may lead to significant losses by the Fund.
2. Emerging markets risk – Certain countries in the Asia Pacific region may be considered emerging markets countries. Emerging markets may be subject to increased political, regulatory and economic instability, less developed custody and settlement practices, poor transparency and greater financial risks. Some markets may carry higher risks for investors who should therefore ensure that they understand the risks involved and are satisfied that an investment is suitable as part of their portfolio.
3. Below investment grade/unrated investment risk – The Fund may invest in debt securities which are unrated or with ratings below investment grade. Accordingly, such investment will be accompanied by a higher degree of credit and liquidity risks than is present with investment in higher rated securities. During economic downturns such bonds typically fall more in value than investment grade bonds as such are often subject to a higher risk of issuer default. The net asset value of the Fund may decline or be negatively affected if there is a default of any of the below investment grade/unrated debt securities (e.g. some high yield bonds) that the Fund invests in or if interest rates change.
4. Credit risk – If the issuer of any of the securities in which the Fund’s assets are invested defaults, the performance of the Fund will be adversely affected and the Fund could suffer substantial loss. For debt securities, a default on interest or principal may adversely impact the performance of the Fund. Decline in credit quality of the issuer may adversely affect the valuation of the relevant bonds and the Fund. The credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer.
5. Interest rate risk – Interest rates in the countries in which the Fund’s assets will be invested may be subject to fluctuations. Any such fluctuations may have a direct effect on the income received by the Fund and its capital value. Bonds are particularly susceptible to interest rate changes and may experience significant price volatility. The prices of bonds generally increase when interest rates decline and decrease when interest rates rise. Longer term bonds are usually more sensitive to interest rate changes. As a result, investors may get back less than they originally invested.
6. Convertibles risk – Convertibles are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. Investors should be prepared for greater volatility than straight bond investments, with an increased risk of capital loss. Factors that may affect the value of the Fund’s holdings include: (i) credit risk, (ii) interest rate risk; and (iii) equity risk.
7. Currency risk – Where the currency of the Fund varies from the investor’s home currency or where the currency of the Fund varies from the currencies of the markets in which the Fund invests, there is the prospect of additional loss to the investor greater than the usual risks of investment. Also, movements in currency exchange rates can adversely affect the return of the investment and as a result, investors may get back less than they originally invested.
8. Risk related to “(irc)” share classes – The “(irc)” share classes will give priority to dividends, rather than to capital growth and will typically distribute more than the income received by the Fund. As such, dividends may be paid out of capital, resulting in greater erosion of the capital invested than other share classes. Furthermore, movements in currency exchange rates and interest rates can adversely affect the return of the “(irc)” share classes. The net asset value of “(irc)” share classes may fluctuate more than and may significantly differ from other share classes due to a more frequent distribution of dividends and the fluctuation of the interest rate differential between the reference currency of the share class and the reference currency of the Fund. Please refer to the “currency hedged share classes risk” for the additional risk associated with “(irc)” share classes.
9. Currency hedged share classes risk – Investors should be aware that the currency hedging process may not give a precise hedge and there is no guarantee that the hedging will be totally successful. Investors in the currency hedged share classes may have exposure to currencies other than the currency of their share class and may also be exposed to the risks associated with the instruments used in the hedging process.
10. RMB currency risk – RMB is subject to a managed floating exchange rate based on market supply and demand with reference to a basket of foreign currencies. RMB exchange rate is also subject to exchange control policies. The daily trading price of RMB against other major currencies in the inter-bank foreign exchange market is allowed to float within a narrow band around the central parity published by the relevant authorities of the People’s Republic of China. As the exchange rates are influenced by government policy and market forces, the exchange rates for RMB against other currencies, including US dollars and HK dollars, are susceptible to movements based on external factors. Accordingly, the investment in share classes denominated in RMB may be adversely affected by the fluctuations in the exchange rate between RMB and other foreign currencies.
RMB is currently not freely convertible and RMB convertibility from offshore RMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the government of the People’s Republic of China.
Share classes denominated in RMB will generally be valued with reference to RMB (CNH) rather than RMB (CNY). While RMB (CNH) and RMB (CNY) represent the same currency, they are traded in different and separate markets which operate independently. As such RMB (CNH) does not necessarily have the same exchange rate and may not move in the same direction as RMB (CNY).
Share classes denominated in RMB participate in the offshore RMB (CNH) market, which allow investors to freely transact CNH outside of mainland China. Share classes denominated in RMB will have no requirement to remit CNH to onshore RMB (CNY). Non-RMB based investors (e.g. Hong Kong investors) in share classes denominated in RMB may have to convert HK dollars or other currencies into RMB when investing in share classes denominated in RMB and subsequently convert the RMB redemption proceeds and/or distributions (if any) back to HK dollars or such other currencies. Investors will incur currency conversion costs and may suffer losses depending on the exchange rate movements of RMB relative to HK dollars or such other currencies. Also, there can be no assurance that RMB will not be subject to devaluation and any depreciation of RMB could adversely affect the value of the investor’s investment in the Fund.
There is a risk that payment of redemption monies and/or distributions in RMB may be delayed when there is not sufficient amount of RMB for currency conversion for settlement of the redemption monies and/or distributions in a timely manner due to the exchange controls and restrictions applicable to RMB. In any event, the redemption proceeds will be paid not later than one calendar month after the relevant Hong Kong dealing day upon receipt of a duly completed redemption request.
11. Liquidity risk – Lack of liquidity may adversely affect the ease of disposal of assets. The absence of reliable pricing information in a particular security held by the Fund may make it difficult to access reliably the market value of assets. As a result, investors may get back less than they originally invested.
12. REITs risk – The Fund may invest in REITs and may therefore be subject to increased liquidity risk and price volatility due to changes in economic conditions and interest rates, and the Fund may be adversely impacted. The underlying REITs which the Fund may invest in may not necessarily be authorised by the SFC and their dividend or payout policies are not representative of the dividend policy of the Fund.
13. Equity risk – Equity markets may fluctuate significantly with prices rising and falling sharply, and this will have a direct impact on the Fund’s net asset value. When equity markets are extremely volatile, the Fund’s net asset value may fluctuate substantially. As a result, investors may get back less than they originally invested.
14. Payment of distributions out of capital risk – The Fund may at its discretion pay dividends out of capital. The Fund may also at its discretion pay dividends out of gross income while charging all or part of the Fund’s fees and expenses to the capital of the Fund, resulting in an increase in distributable amount for the payment of dividends and therefore, effectively paying dividends out of realised, unrealised capital gains or capital. Investors should note that, share classes of the Fund which pay dividends may distribute not only investment income, but also realised and unrealised capital gains or 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, as a result, the capital that the Fund has available for investment in the future and capital growth may be reduced. Any dividend payments, irrespective of whether such payment is made up or effectively made up out of income, realised and unrealised capital gains or capital, may result in an immediate reduction of the net asset value per share. A high distribution yield does not imply a positive or high return on the total investment.