Templeton Asian Bond Fund A MDis USD

鄧普頓亞洲債券基金 A類 MDis 美元

LU0229950067

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

0.75%

HKD10,000.00Min. Subscription

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

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-04-01

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
-1.31%
3 mth
-1.10%
6 mth
+0.09%
1 yr
-2.23%
3 yr
-0.78%
5 yr
+6.54%

Analytical Figures (3 years)

Annualized Return
-0.26%
Annualized Volatility
+4.76%
Sharpe Ratio
-0.38

Fund Information

Fund Houses
Franklin Templeton Investments (Asia) Ltd.
Launch Date
2005-10-24
Fund Manager
Michael Hasenstab
Vivek M. Ahuja
Manager Start Date
2005-10-25
2011-06-01
Geographical Focus
Asia
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 2021-01-30)
USD 258,051,104.09
Management Fee
0.75%
Latest Dividend
USD 0.020000 (2021-02-07)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

0.75%

HKD10,000.00Min. Subscription

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

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

14:00

2021-04-01

Dividend Records

Dividend DateDividend Records (USD)
2021-02-070.020000
2021-01-100.124000
2020-12-070.018000
2020-11-080.044000
2020-10-070.017000
2020-09-070.009000
2020-08-090.016000
2020-07-070.052000
2020-06-070.017000
2020-05-070.017000
2020-04-070.024000
2020-03-080.025000
2020-02-090.034000
2020-01-080.036000
2019-12-080.032000
2019-11-070.033000
2019-10-070.038000
2019-09-080.038000
2019-08-070.049000
2019-07-070.045000
2019-06-090.046000
2019-05-070.049000
2019-04-070.050000
2019-03-070.053000
2019-02-070.057000
2019-01-080.057000
2018-12-090.047000
2018-11-070.050000
2018-10-070.050000
2018-09-090.049000
2018-08-070.051000
2018-07-080.055000
2018-06-070.046000
2018-05-070.052000
2018-04-080.055000
2018-03-070.046000
2018-02-070.055000
2018-01-080.055000
2017-12-070.044000
2017-11-070.051000
2017-10-080.053000
2017-09-070.049000
2017-08-070.052000
2017-07-090.053000
2017-06-070.051000
2017-05-070.051000
2017-04-090.053000
2017-03-070.050000
2017-02-070.052000
2017-01-080.051000
2016-12-070.045000
2016-11-070.050000
2016-10-090.048000
2016-09-070.049000
2016-08-070.049000
2016-07-070.054000
2016-06-070.050000
2016-05-080.055000
2016-04-070.051000
2016-03-070.043000
2016-02-070.045000
2016-01-100.046000
2015-12-070.041000
2015-11-080.043000
2015-10-070.047000
2015-09-070.052000
2015-08-090.052000
2015-07-070.054000
2015-06-070.059000
2015-05-070.030000
2015-04-080.029000
2015-03-080.022000
2015-02-080.029000
2015-01-080.031000
2014-12-070.031000
2014-11-090.027000
2014-10-070.029000
2014-09-070.033000
2014-08-070.040000
2014-07-070.041000
2014-06-090.040000
2014-06-080.040000
2014-05-070.036000
2014-04-070.040000
2014-03-090.033000
2014-02-090.029000
2014-01-080.035000
2013-12-080.033000
2013-11-070.031000
2013-10-070.031000
2013-09-080.030000
2013-08-070.025000
2013-07-070.028000
2013-06-090.029000
2013-05-070.026000
2013-04-070.029000
2013-03-070.026000
2013-02-070.024000
2013-01-080.027000
2012-12-090.029000
2012-11-080.028000
2012-10-070.030000
2012-09-090.029000
2012-08-070.029000
2012-07-080.031000
2012-06-070.026000
2012-05-080.025000
2012-04-100.029000
2012-03-070.037000
2012-02-070.025000
2012-01-080.036000
2011-12-070.031000
2011-11-080.023000
2011-10-090.027000
2011-09-070.015000
2011-08-070.028000
2011-07-070.038000
2011-06-080.036000
2011-05-080.035000
2011-04-070.033000
2011-03-070.028000
2011-02-070.025000
2011-01-090.034000
2010-12-070.024000
2010-11-070.022000
2010-10-070.025000
2010-09-070.028000
2010-08-080.025000
2010-07-070.028000
2010-06-070.018000
2010-05-090.023000
2010-04-070.025000
2010-03-070.029000
2010-02-070.038000
2010-01-070.039000
2009-12-070.032000
2009-11-080.043000
2009-10-070.059000
2009-09-070.059000
2009-08-090.061000
2009-07-070.046000
2009-06-070.050000
2009-05-070.048000
2009-04-070.021000
2009-03-080.036000
2009-02-080.039000
2009-01-070.040000
2008-12-070.048000
2008-11-090.055000
2008-10-070.050000
2008-09-070.053000
2008-08-070.053000
2008-07-070.039000
2008-06-080.033000
2008-05-070.029000
2008-04-070.032000
2008-03-090.031000
2008-02-070.034000
2008-01-070.036000
2007-12-090.036000
2007-11-070.037000
2007-10-070.036000
2007-09-090.036000
2007-08-070.040000
2007-07-080.041000
2007-06-070.039000
2007-05-070.036000
2007-04-090.040000
2007-03-070.032000
2007-02-070.036000
2007-01-070.049000
2006-12-070.028000
2006-11-070.034000
2006-10-080.037000
2006-09-070.039000
2006-08-070.040000
2006-07-090.049000
2006-06-070.032000
2006-05-070.029000
2006-04-090.033000
2006-03-070.028000
2006-02-070.033000
2006-01-080.019000
2005-12-070.026000

Investment Objective

Templeton Asian Bond Fund (the “Fund”) aims to maximize total investment return by achieving an increase in the value of its investments, earning income and profiting from currency movement over the medium to long term

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document for details including the risk factors.
1. Debt securities risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in. Investment in the Fund is subject to interest rate risk. The debt securities will generally increase in value when interest rates fall and decrease in value when interest rates rise. 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 Fund may invest in debt securities on which the issuer is not currently making interest payments (defaulted debt securities). These securities may become illiquid. The
Fund’s investment in securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situation, the governmental entity may be unwilling or unable to pay interest and repay principal, or the indebtedness may be restructured. In the event of a default on sovereign debt, the Fund may suffer significant losses. The Fund may invest in higher-yielding securities rated lower than investment grade or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
2.Market risk
The market values of securities owned by the Fund will tend to go up or down, sometimes rapidly or unpredictably, due to factors affecting individual issuers, particular industries or sectors within securities markets, or because of general market conditions. During a general downturn in the securities markets, multiple asset classes (including different sectors of the same asset class) may decline in value at the same time. Similarly, when markets perform well, there can be no assurance that securities held by the Fund will participate in the advance. Because the securities the Fund holds fluctuate in price in this manner, the Fund’s value may go down as well as up and investors may be adversely affected.
3.Credit risk
The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in. Changes in the financial condition of an issuer, changes in economic and political conditions in general, or changes in economic and political conditions specific to an issuer, are factors that may have an adverse impact on an issuer’s credit quality and security value. Default can occur if an issuer fails to make principal and interest payments when due, which may result in a substantial loss to the Fund. Debt securities are also exposed to the risk of being downgraded, which can adversely affect and/or result in a substantial loss to the Fund.
4. Emerging markets risk: The Fund may invest in, or be exposed to, emerging markets, which may involve increased risks and special considerations not typically associated with investment in more developed markets. The risks of investing in emerging markets, which can adversely affect and/or result in a substantial loss to the Fund, may include: liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a
high degree of volatility.
5.Emerging markets risk
The Fund may invest in, or be exposed to, emerging markets, which may involve increased risks and special considerations not typically associated with investment in more developed markets. The risks of investing in emerging markets, which can adversely affect and/or result in a substantial loss to the Fund, may include: liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
6.Foreign currency risk
The Fund will typically invest to a significant degree in securities that are denominated in currencies other than the base currency of the Fund, exposing its investments to changes in foreign exchange rates and the possibility of exchange control regulations. Changes in currency exchange rates may adversely affect the value of the Fund, and also may affect the income earned by the Fund and gains and losses realized by the Fund. The Fund may use instruments such as currency forwards, cross currency forwards and currency futures contracts to hedge currency exposure, which can limit the potential for currency gains, or to take a currency position for investment purposes, which can result in substantial loss to the Fund. To the extent that the Fund seeks to hedge or protect against currency exchange risk, there is no guarantee that hedging or protection will be achieved, and the value of the Fund may be adversely affected. Furthermore, the total return for a share class that is denominated in a different currency (the “alternative currency”) from the base currency of the Fund may be affected, either positively or negatively, by changes in the exchange rate between the Fund’s base currency and the alternative currency.
7.Concentration risk
The Fund seeks to maintain a portfolio with holdings in a relatively limited number of issuers. By being less diversified, the Fund may be more volatile than broadly diversified funds, or may be exposed to greater risk since underperformance of one or a few positions will have a greater impact in a less diversified Fund. The Fund may be adversely affected as a result of such greater volatility or risk.
8.Liquidity risk
The Fund may not be able to easily sell securities due to adverse market conditions or reduced value or creditworthiness of issuers in which it invests. The inability of the Fund to sell securities or positions may also impede the ability of the Fund to meet redemption requests in a timely manner. Certain securities may also be illiquid due to limited trading markets or contractual restrictions on their resale. Reduced liquidity due to these factors may have an adverse impact on the net asset value of the Fund.
9.Valuation risk
Valuation of the Fund’s investments may involve uncertainties and judgmental determinations. Independent pricing information may not always be available. If valuations prove to be incorrect, the investors of the Fund may be adversely affected.
10.Volatility risk
The debt securities in emerging markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. The bid and offer spreads of the price of such securities may be large and the Fund may incur significant trading costs.
11.Regional market risk
By being concentrated in one region (i.e., Asia), the Fund could suffer greater volatility compared to funds that follow a more diversified policy. The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events affecting the Asian region and the Fund/investors may be adversely impacted.
12. Securitisation risk
A securitisation is composed of multiple tranches, usually spanning from the equity tranche (highest risk) to the senior tranche (the lowest risk). The performance of each tranche is determined by the performance of the underlying assets or “collateral pool”. The collateral pool can encompass securities with different credit qualities, including high-yield securities and junk bonds, and the credit rating of the tranche is not reflective of the quality of the underlying assets. A securitization may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of the securities.
13. Convertible securities risk
The Fund may invest in convertible securities which are a hybrid between debt and equity, permitting holders to convert into shares of the issuer at a specified future date. Convertibles are exposed to equity movement and greater volatility than straight bond investments. Investments in convertible securities are subject to the same interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments. The value and performance of the Fund may be adversely affected as a result
14.Derivative instruments risk
Derivative instruments involve cost, may be volatile, and may involve a leverage effect. A small market movement may give rise to a proportionately larger impact, which may cause substantial loss to the Fund. Other risks include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. In adverse situations, the Fund’s use of derivative instruments may become ineffective and the Fund may suffer significant losses.
15.Swap agreements risk
In a standard “swap” transaction, two parties agree to exchange the returns (or differential in rates of return) earned or realized on particular predetermined investments or instruments. Whether the Fund's use of swap agreements will be successful in furthering its investment objective will depend on the ability of the investment manager to correctly predict whether certain types of investments are likely to produce greater returns than other investments. Swap agreements are illiquid and in the event of the default or bankruptcy of a swap agreement counterparty, the Fund may suffer a
substantial loss.
16.Credit-linked securities risk: The Fund may invest in credit-linked securities (such as credit default swaps). The Fund may be adversely affected by any delay or cessation in the making of payments by the issuers of the debt obligations underlying the credit-linked security or by the issuer of the credit-linked security. If the market for credit-linked securities becomes illiquid, the Fund could experience difficulty in selling such security at a price the investment manager believes is fair, and the Fund may be adversely impacted.
17. Structured notes risk: Structured notes involve a counterparty structuring a note whose value is intended to move in line with the underlying security specified in the note. Unlike financial derivative instruments, cash is transferred from the buyer to the seller of the note. Investment in these instruments may cause a loss if the value of the underlying security decreases. There is also a risk that the note issuer will default. The liquidity of a structured note can be less than that for the underlying security, a regular bond or debt instrument and this may adversely affect the Fund.
18. China Bond Connect risk:
Investing in the China Interbank Bond Market (CIBM) 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 CIBM via Bond Connect are subject to change which may have potential retrospective effect. In the event that the relevant PRC authorities suspend account opening or trading on the CIBM, the Fund’s ability to invest in the CIBM will be adversely affected. In such event, the Fund’s ability to achieve its investment objective will be negatively affected.
19. Risks associated with the CIBM direct
Investing in the CIBM via the CIBM direct 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 CIBM via the CIBM direct are subject to change which may have potential retrospective effect. In the event that the relevant authorities in Mainland China suspend account opening or trading on the CIBM, the Fund's ability to invest in the CIBM will be adversely affected. In such event, the Fund's ability to achieve its investment objective will be negatively affected.
20. RMB Currency and Conversion risk
Where a Fund invests in underlying investments which are denominated in RMB , the Fund will be subject to RMB currency and conversion risks. RMB is currently not freely convertible and is subject to exchange
controls and restrictions. There is no guarantee that the value of RMB against the Fund’s base currency (i.e. USD) will not depreciate. Any depreciation of RMB could adversely affect the value of the Fund’s investment. 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. Under exceptional circumstances, payment of redemptions and/or dividend payment may be delayed due to exchange controls and restrictions applicable to RMB.
21. Chinese Market risk
The Fund is subject to the risks of the Chinese market and the value of the Fund may be susceptible to
adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events affecting the Chinese market. The value and performance of the Fund may be adversely affected as a result.
22. 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 realized on the Fund’s disposals of the fixed income securities traded on the CIBM (which may have retrospective effect). Currently, no tax provision is made on the capital gains from the Fund’s investments in the CIBM.Any changes in the Mainland Chinese tax law, future clarifications thereof, and/or subsequent retroactive enforcement by the Mainland Chinese tax authorities of any tax may result in a material loss to the Fund. The Management Company, the Investment Manager and/or the Sub-Manager will keep the provisioning policy for tax liability under review, and may, in its discretion from time to time, make a provision for potential tax liabilities, if in their opinion such provision is warranted, or as further clarified by the Mainland Chinese authorities in notifications. If tax provision has been made by 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 net asset value. 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).
23.Counterparty risk
The Fund may be exposed to the credit/default risks of its counterparties and the Fund/investors may be
adversely impacted
24. Class hedging risk: The hedging strategy for a hedged share class may not work as intended, exposing investors of that share class to currency risk. Additionally, investors of a hedged share class may be exposed to fluctuations in the net asset value per share reflecting the gains/losses on and the associated transaction costs of the financial instruments used for hedging, and such investors may be adversely impacted.
25.Dividend policy risk
The Fund’s dividend policy allows for payment of dividends out of capital or effectively out of capital. Where this is done, it 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 distributions involving payment of dividends out of the Fund’s capital or payment of dividends effectively out of the Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value per share.