Schroder Asian Asset Income Fund A Dis RMB (Hedged)

施羅德亞洲高息股債基金 A類 Dis 人民幣 (對沖)

HK0000169232

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 Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.25%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

16:30

2019-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+1.88%
3 mth
+1.20%
6 mth
+3.65%
1 yr
+8.89%
3 yr
+21.50%
5 yr
+37.92%

Analytical Figures (3 years)

Annualized Return
+6.71%
Annualized Volatility
+10.12%
Sharpe Ratio
+0.23

Fund Information

Fund Houses
Schroder Investment Management (HK) Ltd
Launch Date
2013-10-31
Fund Manager
Patrick Brenner
Manager Start Date
2015-08-01
Geographical Focus
Asia
Asset Class/ Sector
Balanced
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 2019-09-17)
HKD 32,716,293,666.48
Management Fee
1.25%
Latest Dividend
RMB 0.469000 (2019-08-28)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.25%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

16:30

2019-09-30

Dividend Records

Dividend DateDividend Records (RMB)
2019-08-280.469000

Investment Objective

The fund’s objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities.

Nature and Extent of Risks

Investment involves risk. Please refer to the offering document for details including the risk factors.
1. Equity investment risk
– The fund’s investment in equity securities is subject to the risk that the market value may fluctuate due to numerous factors such as changes in investment sentiment, political environment, economic environment, issuer-specific factors, regional or global economic instability, currency and interest rate fluctuations. If the market value of the stocks go down the net asset value of the fund may be adversely affected.
2. Risks relating to investment in fixed income securities
– Below investment grade and unrated debt securities – Investments in fixed income securities below investment grade or unrated are generally subject to higher degree of counterparty risk, credit risk, volatility risk, liquidity risk and risk of loss of principal and interest than higher rated securities.
– Credit and counterparty risk – Investment in fixed income securities is subject to the credit/default risk of the issuer which may also adversely affect the settlement of the securities.
– Credit ratings 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. The rating criteria and methodology used by Chinese local rating agencies may be different from those adopted by most of the established international credit rating agencies. Therefore, such rating system may not provide an equivalent standard for comparison with securities rated by international credit rating agencies.
– Interest rate risks – Investment in the fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise.
– Credit downgrading risk – The credit rating of fixed income securities or their issuers may be subsequently downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The manager may not dispose of such securities immediately and the fund may therefore be subject to additional risk of loss.
– Liquidity and volatility risk – Securities not listed or rated or actively traded may have low liquidity and higher volatility, and their prices may be subject to fluctuations. The bid and offer spread of their price may be high and the fund may therefore incur significant trading costs and may even suffer losses when selling such instruments.
– Valuation risk – Valuation of the fund’s investment may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the fund.
3. Risks relating to distributions
– The Manager may at its discretion make such distributions out of the capital of the fund. This amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units of the relevant Distribution Units.
– The distribution amount and net asset value of the hedged unit classes may be adversely affected by differences in the interest rates of the class currencies of the hedged unit classes and the fund’s base currency, resulting 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 unit classes.
4. Emerging and less developed markets
– The fund may invest in emerging and less developed markets. Investing in emerging and less developed markets is subject to greater risks than investing in securities of developed countries such as ownership and custody risks, political and economic risks, market and settlement risks, liquidity and volatility risk, legal and regulatory risks, execution and counterparty risk, and currency risk, which may adversely affect the net asset value per share of the fund and investors may as a result suffer losses.
5. Currency and exchange risk
– Investments acquired by the fund may be denominated in a wide range of currencies different from the base currency of the fund. Also a Class of Units may also be denominated in a currency other than the base currency of the fund. The net asset value 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.
6. Risks relating to Real Estate Investment Trusts (“REITs”)
– The fund may be subject to risks similar to those associated with the direct ownership of real property (in addition to securities market risks) through its investment in REITs. The prices of REITs are affected by changes in the value of the underlying property owned by the REITs. REITs are dependent upon management skills and generally may not be diversified. Certain “special purpose” REITs in which the fund may invest may have their assets in specific real property sectors, such as hotel REITs, nursing home REITs or warehouse REITs, and are therefore subject to the risks associated with adverse developments in these sectors.
– The REITs invested in by the fund may not necessarily be authorized by the SFC and the distribution policy of the fund may not reflect the dividend policy of the underlying REITs.
7. Risks relating to hedging and the hedged classes
– There is no guarantee that the desired hedging instruments will be available or hedging techniques will be effective. The fund may suffer significant losses in adverse situation. Any expenses arising from such hedging transactions will be borne by the relevant hedged classes. Hedging may also preclude unitholders from benefiting from an increase in value in terms of the fund’s base currency.
8. Renminbi (“RMB”) Currency Risk and RMB classes related risk
– RMB is currently not freely convertible and is subject to foreign exchange control policies and restrictions.
– There can be no assurance that RMB will not be subject to depreciation. Any depreciation of RMB could adversely affect the value of investor’s investment in classes denominated in RMB.
– Classes denominated in RMB will be valued with reference to offshore RMB (“CNH”) rather than onshore RMB (“CNY”). While CNH and CNY represent the same currency, they are traded at different rates. Any divergence between CNH and CNY may adversely impact investors.
– Non-RMB based investors in classes denominated in RMB may have to convert HK dollar or other currency(ies) into RMB when investing in classes denominated in RMB and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to HK dollar or such other currency(ies). Investors will incur currency conversion costs and you may suffer losses depending on the exchange rate movements of RMB relative to HK dollar or such other currencies.
– 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.
9. Risks related to investments via the Stock Connect
– The relevant rules and regulations on the 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 mainland China 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. Risks associated with China Interbank Bond Market
– Investing in the China Interbank Bond Market via Bond Connect is subject to regulatory risks and various risks such as volatility risk, liquidity risk, settlement and counterparty risk as well as other risk factors typically applicable to debt securities. The relevant rules and regulations on investment in the China Interbank Bond Market via Bond Connect are subject to change which may have potential retrospective effect. In the event that the relevant mainland China authorities suspend account opening or trading on the China Interbank Bond Market, the fund’s ability to invest in the China Interbank Bond Market will be adversely affected. In such event, the fund’s ability to achieve its investment objective will be negatively affected.
11. Financial derivative instruments (“FDI”)
– Risks associated with FDI include counterparty risk, credit risk and liquidity risk, valuation risk, volatility risk, over-the-counter transaction risks and hedging risk. The leverage element component of an FDI can result in a loss substantially greater than the amount invested in the FDI itself. Such exposure may lead to a high risk of significant capital loss.

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