Schroder Alternative Solutions - Agriculture Fund A Acc USD

施羅德另類投資方略 - 施羅德農業基金 A類 Acc 美元

LU0269888532

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.

Dealing HoursComplex

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD100,000.00Min. Subscription

1.75%

HKD50,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD

HKD100,000.00Min. Subscription

HKD100,000.00

HKD100,000.00

Daily

16:30

-

  • The fund has been suspended for further subscription since 2019-09-25.
*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.50%
3 mth
-0.28%
6 mth
+1.61%
1 yr
-9.43%
3 yr
-23.44%
5 yr
-38.17%

Analytical Figures (3 years)

Annualized Return
-8.52%
Annualized Volatility
+11.12%
Sharpe Ratio
-0.93

Fund Information

Fund Houses
Schroder Investment Management (HK) Ltd
Launch Date
2006-10-26
Fund Manager
Mark Lacey
Manager Start Date
2006-10-27
Geographical Focus
Global
Asset Class/ Sector
Commodity Futures
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 2019-11-11)
USD 32,408,619.05
Management Fee
1.75%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge required

HKD100,000.00Min. Subscription

1.75%

HKD50,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD

HKD100,000.00Min. Subscription

HKD100,000.00

HKD100,000.00

Daily

16:30

-

  • The fund has been suspended for further subscription since 2019-09-25.

Dividend Records

No Dividends

Investment Objective

The fund aims to provide long term capital growth by investing in agricultural commodity related instruments worldwide.

Nature and Extent of Risks

Investment involves risk. The fund may substantially invest in various futures and option contracts and will be actively managed without reference to any specific benchmark from an asset allocation perspective. Risks inherent in the fund are not typically encountered in traditional funds. Besides the fund undertakes special risks which may lead to substantial or total loss of investments and is not suitable for investors who cannot afford to take on such risks. However the liability of investors is limited to their investment in the fund. Please refer to the offering document for details including the risk factors.
1. Financial derivative instruments (“FDI”)
The fund may use FDI extensively to meet its specific investment objective. There is no guarantee that the performance of FDI will result in a positive effect for the fund. The leverage element/component of derivatives can result in a loss significantly greater than the amount invested in the FDI by the fund. FDI exposure may lead to a high risk of significant capital loss. Risks associated with FDI include:
– Credit risk and Counterparty risk – The fund will be subject to the risk of the inability of any counterparty through or with which the fund conducts the FDI transactions to perform its obligations, whether due to insolvency, bankruptcy or other causes. Long and short positions gained through total return swaps may increase exposure to credit-related risk.
– Liquidity risk – There may be possible absence of a liquid secondary market for any particular FDI at any time. The fund may be unable to sell illiquid FDI at an advantageous time or price and results in a reduction of returns.
– Valuation risk – The fund is subject to the risk of mispricing or improper valuation of FDI.
– Interest rate risk – There may be interest rate risk when swaps (such as total return swaps) involve floating rate payments.
– Volatility risk – The fund is subject to the risk of higher volatility of the returns as FDI usually have a leverage component.
– OTC transaction risks – FDI traded in OTC markets may be more volatile and less liquid. Its prices may include an undisclosed dealer mark-up which a fund may pay as part of the purchase price.
– Risks related to investments in futures and options – The fund may use futures and options and is subject to a high degree of risk. Transactions in futures can be leveraged or geared so that a relatively small market movement may have a proportionately larger impact which may work for or against the fund. The fund may sustain a loss well in excess of the premium received for transactions in options. The fund will also be exposed to the risk of the purchaser exercising the option and the fund will be obliged either to settle the option in cash or to acquire or deliver the underlying investment.
– Hedging risk – There is no guarantee that the desired hedging instruments will be available or hedging techniques will achieve their desired result. In adverse situations, the use of hedging instruments may become ineffective in hedging and the fund may suffer significant losses.
2. Commodity investment
Investments in commodity-linked derivative instruments may subject the fund to greater volatility than instruments in traditional securities. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments.
3. Concentrated sector
The fund investing in concentrated sector may be subject to a higher level of risks comparing to a fund investing in a more diversified portfolio/strategy.
4. Concentration of investment risks
The fund may at certain times hold relatively few investments and subject to significant losses if it holds a large position in a particular investment that declines in value or is otherwise adversely affected, including default of the issuer.
5. Performance fee risk
– Performance fees may encourage the investment manager of the fund to make riskier investments than would be the case in the absence of a performance-based incentive system.
– Performance fee of the fund is calculated with reference to the outperformance per share (as described in the “Performance fee” section below). Given there is no equalisation arrangement for the calculation of the performance fee, in the event of outperformance, investors are subject to a performance fee regardless a loss in investment capital has been suffered by the investors.
– In addition, performance fees may be paid on unrealised gains which may never be realised by the fund.
6. Risks relating to hedging and the hedged classes
– In respect of the share classes which the management company of the fund has the ability to fully hedge the shares of such share classes in relation to the base currency, currency exposures or currency hedging transactions within the fund’s portfolio will not be considered. The aim of currency hedged share class is to provide you with the performance returns of the fund’s investments by reducing the effects of exchange rate fluctuations between the share class’s and the fund’s base currency. However there is no assurance that the hedging strategies employed will be effective.
– Where undertaken, the effects of this hedging will be reflected in the net asset value and, therefore, in the performance of such share class. Similarly, any expenses arising from such hedging transactions will be borne by the share class in relation to which the expenses have been incurred.
– It should be noted that these hedging transactions may be entered into whether the reference currency is declining or increasing in value relative to the relevant base currency and so, where such hedging is undertaken it may substantially protect investors in the relevant share class against a decrease in the value of the base currency relative to the reference currency, but it may also preclude investors from benefiting from an increase in the value of the base currency.
– There can be no assurance that the currency hedging employed will fully eliminate the currency exposure to the reference currency.
7. Currency risks
The shares may be denominated in currencies different from the base currency of the fund and the shares will be issued and redeemed in those currencies. Certain of the assets of the funds may also be invested in securities and other investments which are denominated in other currencies. Accordingly, the value of such assets may be affected favourably or unfavourably by fluctuations in currency rates and by changes in exchange rate controls. The fund will be subject to foreign exchange risks.

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