New Capital HK Unit Trust Series - New Capital Digital Economy Fund Ord Acc USD

創凱香港單位信託系列 – 創凱數碼世紀基金 Ord Acc 美元

HK0000371796

Risk Rating: Level 5

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.50%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

-

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+3.47%
3 mth
+8.61%
6 mth
+5.17%
1 yr
+12.72%
3 yr
-
5 yr
-

Analytical Figures (3 years)

Annualized Return
-
Annualized Volatility
-
Sharpe Ratio
-

Fund Information

Fund Houses
New Capital UCITS Fund PLC (EFG Asset Management (UK) LTD)-HK Series
Launch Date
2017-12-04
Fund Manager
Mansfield Mok
Manager Start Date
Mansfield Mok (Start Date: 2017-12-05)
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Equity - Technology related
Risk Rating
Risk Level 5

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 five (5) or six (6), these are mainly aimed at providing capital appreciation to investors by investing primarily in single market equities, single industry equities or derivatives etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-11-10)
USD 12,320,376.13
Management Fee
1.50%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD4,000.00Min. Subscription

1.50%

HKD4,000.00Min. Subscription

USD

HKD4,000.00Min. Subscription

HKD4,000.00

HKD4,000.00

Daily

16:30

-

Dividend Records

No Dividends

Investment Objective

The Sub-Fund seeks to achieve long-term capital growth by investing primarily in equity securities issued by companies that can potentially benefit from the transformation or development of economy by digital technologies.

Nature and Extent of Risks

Investment involves risks. Please refer to the Explanatory Memorandum for details including the risk factors.
1. 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. There is no guarantee of the repayment of principal.
2. Risks associated with equities
Equity market risk
- The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions, issuer-specific factors and the business and social conditions in local and global marketplace.
- Securities exchanges typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Sub-Fund.
Volatility risk
- High market volatility and potential settlement difficulties in the markets may also result in signification fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Sub-Fund.
3. Risks of investing in companies relating to digital technologies
- Certain of the sectors relating to digital technologies are at a very early stage of development, and many of the companies in these sectors have a very short history. Rapid changes in technology could render obsolete the products and services offered by the companies in which the Sub-Fund invests, and may cause severe or complete declines in the prices of the securities of those companies. Investment in the digital technology sectors may present a greater risk and a higher volatility than investment in a broader range of securities covering different economic sectors, and the value of the Sub-Fund may be adversely affected.
4. Emerging market risk
- The Sub-Fund may invest in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
5. Concentration risk
- The Sub-Fund’s investments are concentrated in companies operating in the digital technology sectors. 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 these sectors.
6. Currency and foreign exchange risk
- Underlying investments of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund. Also, a class of units may be designated in a currency other than the base currency of the Sub-Fund. The net asset value of the Sub-Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
7. Risks relating to Renminbi (“RMB”)
RMB currency and conversion risk
- RMB is currently not freely convertible and is subject to exchange controls and restrictions.
- Where the Sub-Fund invests in RMB denominated investments, the value of such investments may be affected favourably or unfavourably depending on the changes in exchange rate between RMB and the base currency of the Sub-Fund. There can be no assurance that RMB will not be subject to devaluation. Any devaluation of the RMB could adversely affect the value of investors’ investments in the Sub-Fund.
- Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies (e.g. HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of the investor’s investment in the Sub-Fund.
- Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. The CNH rate may be at a premium or discount to the exchange rate for CNY and there may be significant bid and offer spreads. Any divergence between CNH and CNY may adversely impact the net asset value of the Sub-Fund and thus the investors.
- 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.
RMB class(es) related risk
- When calculating the value of the RMB denominated class(es), CNH will be used. The value of the RMB denominated class(es) thus calculated will be subject to fluctuation.
- Non-RMB based (e.g. Hong Kong) investors may have to convert HKD or other currencies into RMB when investing in the RMB denominated class(es). Subsequently, investors may also have to convert the RMB redemption proceeds (received when selling the units) and RMB distributions received (if any) back to HKD or other currencies. During these processes, investors will incur currency conversion costs and may suffer losses in the event that RMB depreciates against HKD or such other currencies upon receipt of the RMB redemption proceeds and/or RMB distributions (if any).
- Since the unit prices of RMB denominated class(es) are denominated in RMB, but the Sub-Fund will not be fully invested in RMB-denominated underlying investments and its base currency is USD, even if the prices of the non-RMB denominated underlying investments and/or value of the base currency rise or remain stable, investors may still incur losses if RMB appreciates against the currencies of the non-RMB denominated underlying investments and/or the base currency more than the increase in the value of the non-RMB denominated underlying investments and/or the base currency. Furthermore, under the scenario where RMB appreciates against the currencies of the non-RMB denominated underlying investments and/or the base currency of the Sub-Fund (i.e. USD), and the value of the non-RMB denominated underlying investments and/or the base currency of the Sub-Fund decreased, the value of investors’ investments in RMB denominated class(es) may suffer additional losses.
- For the RMB hedged class(es), the Manager may attempt to hedge the currency exchange risk of RMB against the base currency of the Sub-Fund and/or other currency(ies) of non-RMB-denominated underlying investments of the Sub-Fund. The costs of the hedging transactions will be reflected in the net asset value of the units of the RMB hedged class(es) and therefore, investors of the RMB hedged class(es) will have to bear the associated hedging costs, which may be significant depending on prevailing market conditions. If the counterparties of the instruments used for hedging purpose default, investors of the RMB hedged class(es) may be exposed to RMB currency exchange risk on an unhedged basis and may therefore suffer further losses. There is no guarantee that the hedging strategy will be effective.
8. Hedging risk
- The Sub-Fund may use derivatives to hedge against risks. Hedging effect may be affected by the Manager’s expertise and unanticipated changes currency, interest rates and market circumstances. The Sub-Fund may also not obtain a perfect correlation between hedging instruments and the portfolio holdings being hedged. There is no guarantee that hedging techniques will fully and effectively achieve their desired result. If hedging is inefficient or ineffective, the Sub-Fund’s net asset value may be affected.
9. Risks associated with distribution out of the Sub-Fund’s 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 investments. Any such distributions may result in an immediate reduction of the net asset value per unit. The distribution amount and net asset value of the hedged unit class may be adversely affected by differences in the interest rates of the class currency of the hedged unit class and the Sub-Fund’s base currency, 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 unit classes.

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