Eastspring Investments - Asian Local Bond Fund AADM AUD (Hedged)

瀚亞投資-亞洲當地債券基金 AADM類 澳元 (對沖)

LU0795475739

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

HKD4,000.00Min. Subscription

1.25%

HKD4,000.00Min. Subscription

AUD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

15:30

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.25%
3 mth
+0.60%
6 mth
+6.19%
1 yr
+10.15%
3 yr
+12.50%
5 yr
+12.93%

Analytical Figures (3 years)

Annualized Return
+4.00%
Annualized Volatility
+12.25%
Sharpe Ratio
-0.15

Fund Information

Fund Houses
Eastspring Investments (Hong Kong) Limited
Launch Date
2007-09-04
Fund Manager
Guan Yi Low
Manager Start Date
2007-09-05
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 2019-11-17)
USD 4,770,768,739.57
Management Fee
1.25%
Latest Dividend
AUD 0.028300 (2019-11-03)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.25%

HKD4,000.00Min. Subscription

AUD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

15:30

-

Dividend Records

Dividend DateDividend Records (AUD)
2019-11-030.028300
2019-09-300.025200
2019-09-010.027700
2019-07-310.026800
2019-06-300.023600
2019-06-020.026923
2019-05-010.026486
2019-03-310.026215
2019-02-280.023750
2019-01-310.025034
2019-01-010.024895
2018-12-020.025059
2018-11-010.026045
2018-09-300.023048
2018-09-020.027442
2018-07-310.024889
2018-07-010.026648
2018-05-310.026029
2018-05-010.025808
2018-04-020.029049
2018-02-280.025168
2018-01-310.027059
2018-01-010.030520
2017-11-300.027297
2017-11-010.031053
2017-10-010.031385
2017-08-310.031357
2017-07-310.029013
2017-07-020.032211
2017-05-310.031845
2017-05-010.030787
2017-04-020.034639
2017-02-280.030863
2017-01-310.032474
2017-01-010.034960
2016-11-300.033361
2016-11-010.035481
2016-10-020.037639
2016-08-310.036929
2016-07-310.038149
2016-06-300.035598
2016-05-310.036729
2016-05-010.039714
2016-03-310.039671
2016-02-290.037007
2016-01-310.035336
2016-01-030.043485
2015-11-300.037555
2015-11-010.039935
2015-09-300.038163
2015-08-310.040002
2015-08-020.046652
2015-06-300.044938
2015-05-310.042785
2015-05-030.050154
2015-03-310.045938
2015-03-010.043208
2015-02-010.046940
2015-01-010.049237
2014-11-300.043540
2014-11-020.050962
2014-09-300.047812
2014-08-310.048971
2014-07-310.048965
2014-06-300.045625
2014-06-010.048363
2014-05-010.048080
2014-03-310.044257
2014-03-020.041729
2014-02-020.048495
2014-01-010.047586
2013-12-010.044011
2013-11-030.052401
2013-09-300.043589
2013-09-010.050035
2013-07-310.049446
2013-06-300.046982
2013-06-020.055887
2013-05-010.051680
2013-04-010.055206
2013-02-280.047985
2013-01-310.052002
2013-01-010.051614
2012-12-020.057633
2012-11-010.058980
2012-09-300.052934
2012-09-020.062679
2012-07-310.081266

Investment Objective

The Sub-Fund invests in a diversified portfolio consisting primarily of fixed income/debt securities issued by Asian Entities1 or their subsidiaries. The Sub-Fund’s portfolio primarily consists of securities denominated in the various Asian currencies and aims to maximize total returns through investing in fixed income/debt securities that are rated (which can be below investment grade) as well as unrated.

Nature and Extent of Risks

Investment involves risks. Please refer to the Hong Kong Summary Prospectus for details including the risk factors.
1. General Investment Risk
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. You may not get back your original investment. Past performance is not a guide to future performance. The level of investment return is not fixed and will vary.
2. Risks of Investing in Bonds
Interest rate risk: Bonds are subject to interest rate fluctuations. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise.
Credit risk: Investments in bonds are subject to credit default risk of the issuers of the bonds. Adverse economic conditions, unanticipated rise in interest rate, unavailability of additional funding, may impair the issuer’s ability to meet its debt obligations, which may lead to potential default by the issuer.
Risk associated with below investment grade bonds: Bonds that are below-investment-grade or are unrated are more susceptible to credit risk, and in particular high yield bonds offer higher yields to compensate for the reduced creditworthiness or increased risk of default that these securities carry. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
Counterparty risk: The Sub-Fund will be exposed to the credit risk on counterparties with which it trades and any default by such a counterparty (for example, due to insolvency) could result in substantial losses to the Sub-Fund.
Risk of credit rating downgrades: The credit rating of a debt instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the Sub-Fund may be adversely affected. The investment manager may or may not be able to dispose of the debt instruments that are being downgraded.
Sovereign debt risk: The Sub-Fund’s investment in 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 repay 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 loses when there is a default of sovereign debt issuers.
Valuation risk: Valuation of the Sub-Fund’s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the Sub-Fund.
Credit rating 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.
3. Derivatives Risk
Derivatives involve risks different from, and, in some cases, greater than, the risks presented by more traditional securities investments. Some of the risks associated with derivatives are market risk, management risk, credit risk, counterparty risk, liquidity risk, volatility risk, operational risk, leverage risk, valuation risk and over-the-counter transaction risk.
The Sub-Fund may use financial derivative instruments (FDIs) extensively for hedging and efficient portfolio management purposes whilst FDIs will not be extensively used for investment purposes, however, the Sub-Fund’s use of derivatives may become ineffective in such endeavours and the Sub-Fund may suffer significant losses.
4. Concentration Risk
The Sub-Fund’s investments may be concentrated in any one single country within Asia. The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting any one country in the Asian market.
5. Emerging Markets Risk
The Sub-Fund invests in Asian bonds, which may from time to time include bonds in emerging markets. Investing in emerging markets involves increased risks and special considerations not typically associated with investment in more developed markets due to, among other factors, greater political, tax, economic, foreign exchange controls, liquidity, higher degree of volatility, settlement, custody and legal/regulatory risks.
6. Liquidity Risk
The Sub-Fund may have investments which have high liquidity risks (for example, low trading volumes), and may incur substantial losses if it is unable to sell these investments at opportune times or prices.
7. Currency and Exchange Rates Risk
The assets that the Sub-Fund invests in may be denominated in currencies different from the Sub-Fund’s base currency and the currency of the Shares held by you. Also, a Share Class may be designated in a currency other than the base currency of the Sub-Fund. The NAV of the Sub-Fund may be affected unfavourably by adverse movements in foreign currency exchange rates between the currencies of the underlying assets and the base currency of the Sub-Fund and the currency of the Shares held by you, as well as by changes in exchange rate controls.
8. Hedged Share Class Risk
If the Shares of a Share Class can be subscribed and redeemed in a currency other than the base currency of the Sub-Fund, a fluctuation in exchange rates could affect the value of an investment performance and therefore substantially impact the performance of such Share Class.
The hedging strategy is to reduce but not eliminate currency risk. If these hedging transactions are imperfect or are only placed over a portion of the foreign exchange exposure, such Share Class will bear the resulting benefit or loss.
9. Risks associated with Payments of Dividends out of/Effectively out of Capital
Investors should note that where distributions are declared and paid out of the Sub-Fund, the board of directors of Eastspring Investments may at its discretion pay dividends out of the capital of the Sub-Fund or pay dividends out of gross income while charging/paying all or part of the Sub-Fund’s fees and expenses to/out of the capital of the Sub-Fund, resulting in an increase in distributable income for the payment of dividends by the Sub-Fund and therefore, the Sub-Fund may effectively pay dividends out of capital.
Payment of dividends out of capital 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 Sub-Fund’s capital or payment of dividends effectively out of the Sub-Fund’s capital (as the case may be) may result in an immediate reduction of the net asset value per share.

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