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Investment Objective
ICBC Asset Management RMB Fixed Income Fund seeks to achieve consistent and competitive investment returns, comprising steady income and capital growth in RMB terms through investing not less than 70% of the Sub-Fund’s NAV in a portfolio mixture of RMB denominated fixed rate or floating rate debt securities (“RMB Debt Securities”) which are issued or distributed outside or within mainland China. These securities may include RMB denominated bonds issued by issuers such as government entities, agencies, quasi-sovereign organizations, banks and corporations which may or may not be established or incorporated in mainland China. The Sub-Fund may also invest in other RMB denominated deposits issued outside or within mainland China, such as negotiated term bank deposits, bank certificates of deposit, commercial papers, convertible bonds, short term bills and short term notes issued outside or within mainland China. These RMB Debt Securities and deposits will be settled in RMB.
The Manager seeks to achieve consistent and competitive investment returns through active management of the risks involved by reference to the following selection criteria: duration, product, sector and credit.
The Manager will construct the investment portfolio of the Sub-Fund based on expectation on future interest rate movements, and adjust the duration risk based on the Manager’s expectations on the macroeconomic cycle and monetary policy of China. The portfolio will consist of bonds with different maturities. Credit and sector selection will be conducted based on extensive fundamental research. Opinion from credit rating agencies will be considered but the Manager may invest in securities that are unrated. The Manager will use the below strategies by participating in both the primary and secondary markets.
Fund Information
| Fund Name: |
ICBC Asset Management RMB Fixed Income Fund |
| Bid: |
9.807 (as at 14/12/2022) |
| Offer: |
9.807 (as at 14/12/2022) |
| Fund Size: |
RMB 28.74 million (as at 30/11/2022) |
| Base Currency: |
RMB |
| Launch Date: |
31 January, 2011 |
| Min Initial Investment: |
RMB 5,000 |
| Dealing Day: |
HK Business Dealing in daily basis |
| Management Fee: |
0.75% per annum |
| Maximum Initial Fee: |
5% |
| Switching Fee: |
N/A; switching is not currently permitted |
| Dividend Policy**: |
Subject to the Manager’s discretion |
| **The Sub-Fund aims to make distributions in June and December each year (if any). Actual number and size of distribution(s) to be made shall be determined by the Manager at its discretion, and there is no guarantee on the minimum distribution amount. Dividend amount and dividend rate is not guaranteed. A positive distribution does not imply a positive return. |
| Fund Manager: |
Lu Wan Li |
Note: The Sub-Fund will not invest in any debt securities or other securities issued in mainland China and the Sub-Fund will not invest through any Qualified Foreign Institutional Investors (QFII). Notwithstanding the above, as and when investment authorities and regulators in mainland China allow the Sub-Fund to be able to make investment in RMB Debt Securities issued within mainland China, the Sub-Fund may in future include such investment. One month’s prior notice will be given to all unitholders of the Sub-Fund if the Manager intends to make such investment.
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Dividend Information
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>>Dividend Composition Details
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