Allianz HKD Income - AM Dis HKD

安聯港元收益基金 AM類 Dis 港元

LU0815945547

Risk Rating: Level 1

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 one (1) or two (2), these are mainly aimed at providing capital preservation for investors by investing primarily in money market instruments and, investment grade sovereign bonds etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing HoursMonthly Savings

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

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
+0.09%
3 mth
+0.57%
6 mth
+1.86%
1 yr
+4.70%
3 yr
+6.92%
5 yr
+10.20%

Analytical Figures (3 years)

Annualized Return
+2.25%
Annualized Volatility
+1.14%
Sharpe Ratio
+0.83

Fund Information

Fund Houses
Allianz Global Investors Asia Pacific Limited
Launch Date
2013-02-28
Fund Manager
Helen Lam
Stuart Winchester
Manager Start Date
Helen Lam (Start Date: 2012-09-06) Stuart Winchester (Start Date: 2012-09-06)
Geographical Focus
Hong Kong
Asset Class/ Sector
Money Market
Risk Rating
Risk Level 1

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 one (1) or two (2), these are mainly aimed at providing capital preservation for investors by investing primarily in money market instruments and, investment grade sovereign bonds etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-11-13)
EUR 481,724,806.69
Management Fee
1.00%
Latest Dividend
HKD 0.019000 (2019-11-14)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.00%

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

Dividend DateDividend Records (HKD)
2019-11-140.019000
2019-10-140.019000
2019-09-150.019000
2019-08-150.019000
2019-07-140.019000
2019-06-160.019000
2019-05-140.019000
2019-04-140.019000
2019-03-140.019000
2019-02-140.019000
2019-01-140.019000
2018-12-160.019000
2018-11-140.017000
2018-10-140.017000
2018-09-160.017000
2018-08-150.017000
2018-07-150.017000
2018-06-140.012500
2018-05-140.012500
2018-04-150.012500
2018-03-140.012500
2018-02-210.012500
2018-01-150.012500
2017-12-140.012500
2017-11-140.012500
2017-10-150.012500
2017-09-140.012500
2017-08-150.012500
2017-07-160.012500
2017-06-140.012500
2017-05-140.012500
2017-04-170.012500
2017-03-140.012500
2017-02-140.012500
2017-01-160.012500
2016-12-140.012500
2016-11-140.012500
2016-10-160.012500
2016-09-180.012500
2016-08-150.012500
2016-07-140.012500
2016-06-140.012500
2016-05-160.012500
2016-04-140.012500
2016-03-140.012500
2016-02-150.012500
2016-01-140.012500
2015-12-140.012500
2015-11-150.012500
2015-10-140.012500
2015-09-140.012500
2015-08-160.012500
2015-07-140.012500
2015-06-140.012500
2015-05-140.012500
2015-04-140.012500
2015-03-150.012500
2015-02-160.012500
2015-01-140.012500
2014-12-140.012500
2014-11-160.012500
2014-10-140.012500
2014-09-140.012500
2014-08-170.012500
2014-07-140.012500
2014-06-150.012500
2014-05-140.012500
2014-04-140.012500
2014-03-160.012500
2014-02-170.012500
2014-01-140.012500
2013-12-150.012500
2013-11-140.012500
2013-10-140.012500
2013-09-150.012500
2013-08-150.012500
2013-07-150.012500
2013-07-140.012500
2013-06-160.012500
2013-05-140.012500
2013-04-140.018800

Investment Objective

Long-term capital growth and income by investing in bond markets denominated in Hong Kong Dollar.
Sub-Fund assets are primarily invested in debt securities denominated in Hong Kong Dollar. Less than 30% of Sub-Fund assets may be invested in debt securities other than the above.

Nature and Extent of Risks

Investment involves risks. The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses. 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 in securities (eg. bonds), and is exposed to various general trends and tendencies in the economic and political situations as well as securities markets and investment sentiment, 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. All these factors may adversely impact the net asset value of the Sub-Fund.
2. Country and Region Risk
- The Sub-Fund’s investments focus in Hong Kong, which may increase the concentration risk. Consequently, the Sub-Fund is particularly susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events and risks of this region, or of companies based and/or operating in this region. The net asset value of the Sub-Fund may be more volatile than a diversified 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. Interest Rate Risk
- To the extent that this Sub-Fund invests in interest-bearing securities, (e.g. bonds and money market instruments), 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.
5. Creditworthiness Risk/Credit Rating Risk/Downgrading Risk
- The creditworthiness (ability to pay) of the issuer of an asset in particular of a debt security or money-market 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 fluctuations. 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.
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. Specific Risks of Investing in High-Yield (Non-Investment Grade and Unrated) Investments and Convertible Bonds
- Investing in high-yield (non-investment grade and unrated) investments and convertible bonds 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), all of which may adversely impact the net asset value of the Sub-Fund.
- Convertible bonds are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles will be exposed to prepayment risk, equity movement and greater volatility than straight bond investments. The value of convertible bonds may be affected by the price movement of the underlying securities (i.e. equities), among other things. Convertible bonds may also have call provisions and other features which may give rise to the risk of a call. All these factors may adversely impact the net asset value of the Sub-Fund.
8. 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.
9. RMB Debt Securities Risk
- The “Dim Sum” bond market is still a relatively small market which is more susceptible to volatility and illiquidity. The operation of the “Dim Sum” bond market as well as new issuances could be disrupted causing a fall in the net asset value of the Sub-Fund should there be any promulgation of new rules which limit or restrict the ability of issuers to raise RMB by way of bond issuances and/or reversal or suspension of the liberalisation of the offshore RMB (CNH) market by the relevant regulator(s).
10. RMB Risk
- The Sub-Fund may invest in assets 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 mayreduce 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. The Chinese Renminbi may be subject to devaluation, in which case the value of the investments in Chinese Renminbi assets will be adversely affected.
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 hedging and/or efficient portfolio management 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.
14. Risks relating to repurchase agreements
- In the event of the failure of the counterparty with which collateral has been placed, the Sub-Fund may suffer loss as there may be delays in recovering collateral placed out or the cash originally received may be less than the collateral placed with the counterparty due to inaccurate pricing of the collateral or market movements.
15. Risks relating to reverse repurchase agreements
- In the event of the failure of the counterparty with which cash has been placed, the Sub-Fund may suffer loss as there may be delay in recovering cash placed out or difficulty in realizing collateral or proceeds from the sale of the collateral may be less than the cash placed with the counterparty due to inaccurate pricing of the collateral or market movements.

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852
3896 3896

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