Eastspring Investments - Asian Local Bond Fund ADM USD

瀚亞投資-亞洲當地債券基金 ADM類 美元

LU0428352859

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

USD

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
+0.34%
3 mth
+0.94%
6 mth
+6.81%
1 yr
+11.16%
3 yr
+13.73%
5 yr
+10.90%

Analytical Figures (3 years)

Annualized Return
+4.38%
Annualized Volatility
+5.73%
Sharpe Ratio
+0.23

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
USD 0.034100 (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

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

15:30

-

Dividend Records

Dividend DateDividend Records (USD)
2019-11-030.034100
2019-09-300.029200
2019-09-010.032300
2019-07-310.031200
2019-06-300.027400
2019-06-020.031276
2019-05-010.030741
2019-03-310.030410
2019-02-280.027542
2019-01-310.029007
2019-01-010.028846
2018-12-020.029012
2018-11-010.030128
2018-09-300.026644
2018-09-020.031707
2018-07-310.028757
2018-07-010.030754
2018-05-310.030033
2018-05-010.029768
2018-04-020.033507
2018-02-280.029032
2018-01-310.031207
2018-01-010.032969
2017-11-300.029497
2017-11-010.031575
2017-10-010.031881
2017-08-310.031840
2017-07-310.029422
2017-07-020.032663
2017-05-310.030507
2017-05-010.029491
2017-04-020.033168
2017-02-280.027985
2017-01-310.029438
2017-01-010.031680
2016-11-300.030224
2016-11-010.032124
2016-10-020.034075
2016-08-310.033433
2016-07-310.032804
2016-06-300.030627
2016-05-310.031589
2016-05-010.032528
2016-03-310.030889
2016-02-290.028807
2016-01-310.027492
2016-01-030.033836
2015-11-300.029202
2015-11-010.031105
2015-09-300.029681
2015-08-310.029765
2015-08-020.034684
2015-06-300.032010
2015-05-310.030480
2015-05-030.035738
2015-03-310.032724
2015-03-010.030780
2015-02-010.033475
2015-01-010.035113
2014-11-300.031055
2014-11-020.036361
2014-09-300.034080
2014-08-310.034915
2014-07-310.034906
2014-06-300.032534
2014-06-010.034482
2014-05-010.034279
2014-03-310.031538
2014-03-020.029713
2014-02-020.034525
2014-01-010.033883
2013-12-010.031489
2013-11-030.037464
2013-09-300.031141
2013-09-010.035742
2013-07-310.035306
2013-06-300.033408
2013-06-020.039679
2013-05-010.036720
2013-04-010.039239
2013-02-280.034122
2013-01-310.036992
2013-01-010.036726
2012-12-020.042902
2012-11-010.043933
2012-09-300.037949
2012-09-020.044970
2012-07-310.039938
2012-07-010.040498
2012-05-310.040726
2012-05-010.040658
2012-04-010.044223
2012-02-290.040066
2012-01-310.037357
2012-01-020.037400
2012-01-010.037381
2011-11-300.037707
2011-11-010.038287
2011-10-020.032600
2011-08-310.035074
2011-07-310.035002
2011-06-300.034148
2011-05-310.034180
2011-05-020.034300
2011-05-010.034306
2011-03-310.033417
2011-02-280.032706
2011-01-310.037126
2011-01-020.037676
2010-11-300.037397
2010-11-010.038421
2010-09-300.038036
2010-08-310.036884
2010-08-010.036481
2010-06-300.036096
2010-05-310.035584
2010-05-030.036900
2010-05-020.036894
2010-03-310.036328
2010-02-280.035442
2010-02-010.035200
2010-01-310.035154
2010-01-030.035058
2009-11-300.035225
2009-11-010.034591
2009-09-300.034702
2009-08-310.033615
2009-08-020.033864
2009-06-300.033114

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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