Allianz US High Yield AT Acc HKD

安聯美元高收益基金 AT類 Acc 港元

LU0674994503

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 HoursMonthly Savings

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.39%

HKD4,000.00Min. Subscription

AUD / HKD / SGD / EUR / GBP / RMB / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

2019-11-27

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.79%
3 mth
+2.20%
6 mth
+3.79%
1 yr
+7.47%
3 yr
+13.69%
5 yr
+12.77%

Analytical Figures (3 years)

Annualized Return
+4.37%
Annualized Volatility
+4.44%
Sharpe Ratio
+0.46

Fund Information

Fund Houses
Allianz Global Investors Asia Pacific Limited
Launch Date
2011-12-01
Fund Manager
Doug Forsyth
Brit Stickney
Manager Start Date
Douglas G. Forsyth (Mgr Start Date 2010-08-02) Brit Stickney (Mgr Start Date 2010-08-02)
Geographical Focus
US
Asset Class/ Sector
Fixed Income - High yield
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 2019-11-13)
EUR 1,714,347,104.67
Management Fee
1.39%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.39%

HKD4,000.00Min. Subscription

AUD / HKD / SGD / EUR / GBP / RMB / CAD / USD / NZD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

2019-11-27

Dividend Records

No Dividends

Investment Objective

Long-term capital growth and income by investing in high yield rated corporate bonds of the United States of America (“US”) bond markets.

Nature and Extent of Risks

Investment involves risks. Please refer to the Prospectus for details including the risk factors.
1. Investment Risk / General Market Risk
The Sub-Fund is an investment fund. There is no guarantee of the repayment of principal. The instruments invested by the Sub-Fund may fall in value.
The Sub-Fund invests directly or indirectly in securities, and is exposed to various general trends and tendencies in the economic situation as well as markets, especially in the securities markets, which are partially attributable to irrational factors. Such factors could lead to substantial and longer-lasting drops in prices affecting the entire market. Securities from top-rated issuers are subject to essentially the same general market risk as other securities and assets.
2. Creditworthiness Risk
The creditworthiness (solvency and willingness to pay) of the issuer of an asset in particular of a security or money-market instrument directly or indirectly held by a Sub-Fund may subsequently fall. This usually leads to a decrease in the price of the asset greater than that caused by general market fluctuation.
The securities held by the Sub-Fund may be downgraded and may fall in value. This will also lead to a fall in the net asset value of the Sub-Fund
3. Emerging Market Risk
The Sub-Fund invests in emerging markets which involve increased risks and special considerations not typically associated with investment in more developed economies or markets, such as greater political, tax, legal, economic, foreign exchange/control, liquidity, regulatory risks, settlement risks, custody risk and the likelihood of a high degree of volatility. The accounting, auditing and financial reporting standards may deviate substantially to the Sub-Fund’s detriment. All these factors may adversely impact the net asset value of the Sub-Fund.
4. Creditworthiness Risk/Credit Rating Risk/Downgrading Risk
The creditworthiness (solvency and willingness to pay) of the issuer of an asset in particular of a debt security or moneymarket instrument held by a Sub-Fund may subsequently fall. This usually leads to a decrease in the price of the asset greater than that caused by general market fluctuation. All these factors may adversely impact the net asset value of the Sub-Fund.
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 interest-bearing securities held by the Sub-Fund may be downgraded and may fall in value. This will also lead to a fall in the net asset value of the Sub-Fund. The Investment Manager may or may not be able to dispose of the debt instruments that are being downgraded.
5. Interest Rate Risk
To the extent that this Sub-Fund invests in interest-bearing securities (eg. corporate bonds and government bonds) it is exposed to interest rate fluctuations. If market interest rates rise, the value of the interest-bearing assets held by the Sub-Fund may decline substantially. This applies to an even greater degree if this Sub-Fund also holds interest-bearing securities with a longer time to maturity and a lower nominal interest rate. All these factors may adversely impact the net asset value of the Sub-Fund.
6. Default Risk
The Sub-Fund is exposed to the credit and default risk of issuers of the debt securities that the Sub-Fund may invest in.
7. RMB Risk
The Sub-Fund may launch share classes denominated in offshore Chinese Renminbi. The Chinese Renminbi traded in Mainland China is not freely convertible and is subject to exchange controls, policies and restrictions imposed by the PRC authorities. Such policies may limit the depth of the Chinese Renminbi market available outside of Mainland China, and thereby may reduce the liquidity of the Sub-Fund. 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. Furthermore although offshore Renminbi and onshore Renminbi are the same currency, they trade at different rates. Any divergence between offshore Renminbi and onshore Renminbi may adversely impact investors.
Any depreciation of RMB could adversely affect the value of investors’ investment in the RMB denominated share classes.
8. Specific Risks of Investing in High-Yield (Non-Investment Grade and Unrated) Investments
Investing in high-yield (non-investment grade and unrated) investments are normally associated with higher volatility, greater risk of loss of principal and interest, increased creditworthiness and downgrading risk, default risk, interest rate risk, general market risk, and liquidity risk (for example, the asset cannot be sold or can only be sold at a significant discount to the purchase price).
9. Valuation Risk
Valuation of the Sub-Fund assets may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the NAV calculation of the Sub-Fund.
10. Sovereign Debt Risk
The Sub-Fund’s investment in interest-bearing securities issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to replay the principal and/or interest when due or may request the Sub-Fund to participate in restructuring such debts. The Sub-Fund may suffer significant losses when there is a default of sovereign debt issuers.
11. Derivatives Risk
The Sub-Fund may invest in derivatives, which may expose the Sub-Fund to higher leverage, valuation, volatility, counterparty, liquidity, market and over the counter transaction risks, all of which may adversely impact the net asset value of the Sub-Fund. The leverage component of an FDI can result in a loss significantly greater than the amount invested in the FDI by the Sub-Fund.
The Sub-Fund’s use of FDI in efficient portfolio management (including for hedging) may become ineffective and/or cause the Sub-Fund to suffer significant losses.
12. Risk related to Distribution out of Capital and Distribution effectively out of Capital
The payment of distributions out of capital/distributions effectively out of capital represents a return or withdrawal of part of the amount investors originally invested and/or capital gains attributable to the original investment. Any distributions
involving payment of distributions out of the Sub-Fund’s capital/distributions effectively out of the Sub-Fund’s capital may result in an immediate decrease in the Net Asset Value per Share and may reduce the capital available for the Sub-Fund
for future investment and capital growth.
The distribution amount and NAV of any hedged share classes of the Sub-Fund may be adversely affected by differences in the interests rates of the reference currency of the hedged share classes and the base currency of the Sub-Fund,
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 share classes.
13. Risks relating to securities lending transactions
Securities lending transactions may involve the risk that the borrower may fail to return the securities lent out in a timely manner and the value of the collateral may fall below the value of the securities lent out.

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