PineBridge Global Funds - PineBridge Asia Dynamic Asset Allocation Fund L Ret USD

柏瑞環球基金 - 柏瑞亞洲動態資產配置基金 L類 Ret 美元

IE0003895053

Risk Rating: Level 3

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

HKD10,000.00Min. Subscription

1.25%

HKD10,000.00Min. Subscription

AUD / HKD / SGD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

16:30

2019-09-30

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+4.35%
3 mth
+3.76%
6 mth
+1.80%
1 yr
+5.34%
3 yr
+13.57%
5 yr
+16.12%

Analytical Figures (3 years)

Annualized Return
+4.33%
Annualized Volatility
+8.69%
Sharpe Ratio
+0.21

Fund Information

Fund Houses
Pinebridge Investment Asia Ltd – Global Fund
Launch Date
1998-01-01
Fund Manager
Sunny Ng
Arthur Lau
Caroline Loke
Jose Aragon
Peter Hu
Manager Start Date
N/A
Geographical Focus
Asia Pacific ex Japan
Asset Class/ Sector
Balanced
Risk Rating
Risk Level 3

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 2019-08-29)
USD 49,244,919.58
Management Fee
1.25%
Latest Dividend
N.A.

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

1.25%

HKD10,000.00Min. Subscription

AUD / HKD / SGD / JPY / EUR / GBP / USD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD10,000.00

Daily

16:30

2019-09-30

Dividend Records

No Dividends

Investment Objective

The fund seeks long-term capital appreciation by identifying new and changing economic and investment trends and investing primarily in the Asia Pacific Region by taking a forward view of fundamental economic and market conditions across the region.

Nature and Extent of Risks

Investment involves risks. Please refer to the offering document for details including the risk factors.
1. Fixed income risk
- There is a risk that a particular issuer of fixed income security may not fulfill its payment or other obligations. These events may increase the price volatility of the issuers’ debt obligations and negatively affect liquidity making such debt obligations more difficult to sell. This may restrict the ability of the Sub-Fund to dispose of its investments at a price and time that it wishes to do so, which in turn may result in the loss of some or the entire amount of the Sub-Fund’s investments and have a negative impact on the net asset value of the Sub-Fund.
- Particularly high (or increasing) levels of government deficit, amongst other factors, may adversely affect the credit rating of such sovereign debt securities and may lead to market concerns of higher default risk. Selective default is a rating given by Standard & Poor's when it believes that an obligor has selectively defaulted on a specific issue or class of obligations but it will continue to meet its payment obligations on other issues or classes of obligations in a timely manner. Fixed income securities rated Selective Default may be subject to higher risk of default. In the event of default, the value of such securities may be adversely affected resulting in the loss of some or the entire invested amount.
- Fixed income securities may be subjected to credit rating downgrade risk. Downgrading of a fixed income security may adversely affect the valuation of such security and the value of the Sub-Fund. There may also be a higher risk of default in interest payment and principal repayment.
- Credit ratings may not always be an accurate or reliable measure of the strength of an investment being made. Where such credit ratings prove inaccurate or unreliable, losses may be incurred in such investment. The net asset value of the Sub-Fund will fluctuate as interest rates fluctuate. An increase in interest rates will generally reduce the value of the fixed income securities.
- Many fixed income securities, especially those issued at high interest rates, provide that the issuer may repay them early. Issuers often exercise this right when interest rates decline. Accordingly, investors of securities that are prepaid may not benefit fully from the increase in value or the future payment of higher income. Further, there is a risk that the prepayment proceeds will be subject to reinvestment at lower yields.
2. Equity risk
- The value of equity and equity-related securities will be affected by economic, political, market, and issuer-specific changes, regardless of company specific performance. Different industries, financial markets, and securities can react differently to these changes. Moreover, such fluctuations of a Sub-Fund’s value are often worsened in the short-term.
3. Emerging markets risk
- Investment in securities of companies in the Asian Region which may be considered as “emerging” or “developing” countries or markets involves a relatively higher degree of risk and may be considered speculative due to the absence of, amongst other things, developed legal structures governing private or foreign investments and private property, internationally comparable accounting, auditing and reporting standard and level of information transparency, significant adverse economic developments including substantial depreciation in currency exchange rates or unstable currency fluctuations.
- The size and volume of trading of securities markets of “emerging” or “developing” market issuers are currently small and low or non-existent, which might result in price volatility and lack of liquidity.
4. Market volatility risk
- All markets are subject to volatility based on prevailing economic conditions. Some of the markets or exchanges on which the Sub-Fund may invest may prove to be highly volatile from time to time.
5. Country selection risk
- The Sub-Fund’s performance is often derived from its allocations to certain countries. These allocations may present greater opportunities and potential for capital appreciation, but may subject the Sub-Fund to concentration risk and higher risk of loss as compared to a portfolio which is diversified across different geographic regions.
6. OTC counterparty risk
- Investments in OTC derivative instruments are specifically arranged with a counterparty and are non-exchange traded. In case of bankruptcy or default of counterparty, trades in OTC derivative instruments could result in substantial losses to the Sub-Fund.
7. Liquidity risk
- The liquidity of securities that are not listed or rated may be low. As such, the purchase and sale of these holdings may be time consuming and may be conducted at unfavorable prices.
8. Financial derivative instruments risk
- The leverage effect embedded in derivatives may result in substantial losses including and up to the total value of the assets of the Sub-Fund and the prices of derivatives can be highly volatile. The use of FDIs may expose the Sub-Fund to various types of risk, including but not limited to, counterparty, liquidity, correlation, credit, volatility, valuation and settlement risks which can have an adverse effect on the net asset value of the Sub-Fund.
9. Distributions risk
- Dividends, if any, may be paid out of the capital of the Sub-Fund. Where the Manager determines in its discretion to pay distributions in respect of the Sub-Fun, investors should note that such distributions amount to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
- Such distributions may result in an immediate decrease in the Net Asset Value of the Sub-Fund.
10. Investment loss risk
- The instruments invested by the Sub-Fund may fall in value and therefore your investment in the Sub-Fund may suffer losses.
- The value of the Sub-fund may be adversely affected by developments in political, economical and social conditions and policies of the markets in which it invests which may result in losses to your investment.
- Investment in the Sub-Fund will not benefit from any deposit protection scheme.
11. Below investment grade debt securities investment risk
- Issuers of high yield securities or below investment grade debt securities are often highly leveraged, so that their ability to service debt obligations during an economic downturn may be impaired.
- The lower ratings of securities reflect a greater possibility of adverse changes in the financial condition of the issuer, which may impair the ability of the issuer to make payments of interest and principal. The risk of loss due to default in payment of interest or principal by such issuers is significantly greater than in the case of investment grade securities because such securities frequently are subordinated to the prior payment of senior indebtedness.
- The market for below investment grade rated securities may be thinner and less active than that for higher quality securities which can adversely affect the price at which securities can be sold. To the extent that there is no regular secondary market trading for certain lower rated securities, the Investment Manager may experience difficulty in valuing such securities and in turn the Sub-Fund’s assets.
- Unrated debt securities are subject to risks similar to investments in non-investment grade debt securities. Investment in unrated debt securities means that the Sub-Fund must rely on the Investment Manager’s credit assessment and where such assessment proves to be inaccurate, losses may be incurred.
12. Sovereign debt risk
- Certain developing countries and certain developed countries are especially large debtors to commercial banks and foreign governments. Investment in debt obligations (“sovereign debt”) issued or guaranteed by governments or their agencies (“government entities”) of such countries involves a higher degree of risk.
- A government entity’s willingness or ability to repay principal and interest due in a timely manner may be affected by its cash flow situation, the extent of its foreign reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the government entity’s policy towards the International Monetary Fund and the political constraints to which a government entity may be subject etc.
- In some cases, failure to implement certain economic reforms and/or achieve certain levels of economic performance or repay principal or interest when due may result in the cancellation of third parties’ commitments to lend funds to the government entity, which may further impair such debtor’s ability or willingness to service its debt on a timely basis.
- In the event that a government entity defaults on its sovereign debt, holders of sovereign debt, including a Sub-Fund, may be requested to participate in the rescheduling of such debt and to extend further loans to the relevant government entity. Such events may negatively impact the performance of a Sub-Fund.
13. Shanghai-Hong Kong Stock Connect Risk
The relevant rules and regulations on Shanghai-Hong Kong Stock Connect are subject to change which may have potential retrospective effect. The Shanghai-Hong Kong Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the fund’s ability to invest in China A-shares or access the PRC market through the programme will be adversely affected. In such event, the fund’s ability to achieve its investment objective could be negatively affected.

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