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Manulife Advanced Fund SPC - China A Segregated Portfolio AA Acc USD

宏利盈進基金SPC - 中國A股獨立資產組合 AA類 Acc 美元

KYG5800M1050

Risk Rating: Level 6

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

HKD25,000.00Min. Subscription

1.75%

HKD5,000.00Min. Subscription

HKD / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

14:00

2020-10-25

  • The fund has been suspended for further subscription since 2020-04-07.
*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.86%
3 mth
-1.11%
6 mth
+29.71%
1 yr
+44.30%
3 yr
+28.58%
5 yr
+42.73%

Analytical Figures (3 years)

Annualized Return
+8.74%
Annualized Volatility
+21.19%
Sharpe Ratio
+0.43

Fund Information

Fund Houses
Manulife Asset Management (Hong Kong) Limited
Launch Date
2010-11-07
Fund Manager
Team Managed
Manager Start Date
2010-09-21
Geographical Focus
China A Shares
Asset Class/ Sector
Equity - All cap
Risk Rating
Risk Level 6

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 2020-10-22)
USD 38,273,724.48
Management Fee
1.75%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD25,000.00Min. Subscription

1.75%

HKD5,000.00Min. Subscription

HKD / USD

HKD25,000.00Min. Subscription

HKD25,000.00

HKD25,000.00

Daily

14:00

2020-10-25

  • The fund has been suspended for further subscription since 2020-04-07.

Dividend Records

No Dividends

Investment Objective

To achieve long term capital appreciation by investing primarily in Mainland China capital markets.
The Fund seeks to achieve its investment objective by investing primarily (i.e. not less than 70% of its net assets) in companies listed on the A-Share markets of the Shanghai Stock Exchange and/or the Shenzhen Stock Exchange.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus for details including the risk factors.
1. Investment Risk
-The Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. The Fund is an investment fund and not a bank deposit. There is no guarantee of the repayment of principal.
2. China Market Risk / Single Country Risk
-The Fund’s investments are concentrated in Mainland China capital markets. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
-By investing in the China market (both onshore and offshore), the value of the Fund may be more susceptible to the risks of investing in emerging markets generally and the risks specific to the China market and special considerations not typically associated with investment in more developed countries or markets, such as adverse economic, political, policy, foreign exchange, volatility, liquidity, tax, legal or regulatory events affecting the China market.
3. Equity Market Risk
-The Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, economic and political conditions, and issuer-specific factors.
4. Risks Relating to A-Share Market Risk
-The stock of small-capitalisation / mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general.
-High market volatility and potential settlement difficulties in the A-Share markets may also result in significant fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Fund.
-Securities exchanges in the Mainland China typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Fund.
5. RMB Currency and Conversion Risks
-Underlying investments of the Fund may be denominated in currencies other than the base currency of the Fund. The NAV of the Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
-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 investors’ 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.
6. Multi-Currency Conversion Risk
-Subscriptions and redemptions in Hong Kong are normally paid in HKD or USD and will not be conducted in RMB. The Fund will convert subscription proceeds to USD (where subscriptions are made in HKD) and then to RMB in order to invest. To meet redemption requests, the Fund will convert the RMB sale proceeds to USD and then to HKD (where redemption proceeds are paid in HKD). Investors may be subject to risks of exchange rate fluctuations as a result of such currency conversion transactions. The Fund may incur higher costs as a result of the multiple conversions between RMB, USD and HKD upon:
-the conversion of HKD subscription monies to USD (where necessary), followed by the conversion of USD into RMB for the Fund to acquire RMB denominated securities; and
-the conversion of RMB sale proceeds from the selling of RMB denominated securities to USD, followed by the conversion of USD into HKD (where necessary), to meet redemption requests. For redemptions paid in HKD, the Fund may be subject to higher costs as a result of the time lag between the relevant dealing day and the day of settlement of redemption payments.
7. Risk Associated With Investment Made Through QFII Regime
-The Fund’s ability to make the relevant investments or to fully implement or pursue its investment objective and strategy is subject to the applicable laws, rules and regulations (including restrictions on investments and repatriation of principal and profits) in the Mainland China, which are subject to change and such change may have potential retrospective effect.
-The Fund may suffer substantial losses if there is insufficient QFII quota allocated for the Fund to make investments, the approval of the QFII is being revoked / terminated or otherwise invalidated as the Fund may be prohibited from trading of relevant securities and repatriation of the Fund’s monies, or if any of the key operators or parties (including QFII Local Custodian / Mainland China broker(s)) is bankrupt / in default and/or is disqualified from performing its obligations (including execution or settlement or any transaction or transfer of monies or securities).
8. Mainland China Tax Risk
-There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practice in respect of capital gains realised via QFII quota on the Fund’s investments in the Mainland China (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 Investment Manager is no longer making a provision for withholding tax of 10% on realised gains derived from the trading of A-Shares on or after 17 November 2014 with respect to the Fund.
-Any shortfall between the provision and the actual tax liabilities, which will be debited from the Fund’s assets, will adversely affect the Fund’s NAV. The actual tax liabilities may be lower than the tax provision made. Depending on the timing of their subscriptions and/or redemptions, investors may be disadvantaged as a result of any shortfall of tax provision and will not have the right to claim any part of the overprovision (as the case may be).