• Home
  • Product
  • Hong Kong Authorized Funds
  • CSOP Select RMB Bond Fund

CSOP Select RMB Bond Fund

  • Overview
  • Performance
  • Summary of NAV
  • Documents
IMPORTANT INFORMATION about the CSOP Select RMB Bond Fund
  • CSOP Select RMB Bond Fund (the "Fund") invests primarily in RMB denominated and settled debt instruments issued within mainland China through the RQFII quota of the Manager.
  • There may not be a liquid and active market in the PRC debt securities and the Fund may be subject to liquidity risk.
  • RMB is currently not freely convertible and is subject to exchange controls. There is no guarantee that RMB will not depreciate.
  • The RQFII policy and rules are in the early stages of its operations. Any changes to the relevant rules may adversely impact the Fund.
  • Investment in the China market is subject to concentration risk and risks associated with changes in the PRC laws and regulations (such as PRC tax laws and repatriation policy).
  • The Fund is exposed to the credit/insolvency risk of issuers. Downgrading of credit rating of the debt securities and an issuer may adversely affect the value of the Fund.
  • Any increase in interest rates or changes in the Chinese government's macro-economic policies may adversely impact the value of the Fund's fixed income portfolio.
  • The Manager may at its discretion pay distribution out of the capital of the Fund. Payment of distributions out of capital represents a return or a withdrawal of part of the amount an investor originally invested or capital gains attributable to that amount. Distribution may result in an immediate decrease in the net asset value of the relevant units.
  • Investors should not invest in the Fund solely based on this material and should read the Explanatory Memorandum and the Key Facts Statement of the Fund for further details, including the risk factors.
  • Investment involves risks. Future performance and the capital value of the Fund are not guaranteed. Past performance figures are not an indicative for future performance. The value of units may rise as well as fall. Investors are reminded that in certain circumstances their right to redeem may be suspended. This material has not been reviewed by the Securities and Futures Commission in Hong Kong.

Issuer: CSOP Asset Management Limited

Investment Strategy
  • The CSOP Select RMB Bond Fund seeks long term and stable capital growth through investing primarily in bonds issued within mainland China through the RQFII quota of the Manager.
  • The Sub-Fund will invest not less than 80% of its Net Asset Value in RMB denominated and settled debt securities issued or distributed within mainland China where the issuers or the debt securities have obtained investment grade ratings from recognised international rating agencies at the time the debt securities are purchased.
Fund Manager
Yanming Guo, CFA, Deputy CEO and Head of Fixed Income
  • Specializes in China fixed income products, especially in credit products
  • Managed to built up China Southern Asset Management Co., Ltd.'s ("CSAM") internal credit research and rating platform and trained credit analysts, paving the way for CSAM's investment in credit products
  • More than 12 years of financial industry experience (of which 5 years of Wall Street experience)
  • Worked at Bear, Stearns & Co., Inc. as Vice President at the Risk Management Department, covering credit products
  • Joined CSAM in March 2006 as Chief Bond Analyst, Executive Director of Fixed Income -Department and Executive Director of International Business Department respectively.
  • Graduated with a Masters of Business Administration from Columbia Business School
  • Holder of Hong Kong Securities and Futures Commission ("SFC") Type 9 and Type 4 RO license
Key Facts 1
Inception Date May 2014
Base Currency RMB
Financial Year End 31 December
Dealing Frequency Daily on each HK & PRC Business Day
Manager CSOP Asset Management Limited
Custodian Bank of China (Hong Kong) Limited
RQFII Custodian Bank of China Limited
Trustee & Registrar BOCI-Prudential Trustee Limited
Share Classes Institutional investors All types of investors
Class I Class A
Minimum Subscription Amount RMB 1,000,000 RMB 20,000
USD 200,000 USD 4,000
Minimum Subsequent Subscription Amount RMB 500,000 RMB 10,000
USD 100,000 USD 2,000
Management Fee 1.00% p.a. 1.50% p.a.
Preliminary Charge Up to 3%
ISIN HK0000203015
RMB (Class I)
HK0000202991
RMB (Class A)
HK0000203007
USD (Class I)
HK0000202983
USD (Class A)
Bloomberg Code
1 a day (other than a Saturday or Sunday) on which a Business Day on which banks in Hong Kong and the PRC are open for business.
* You should note that some fees may be increased, up to a specified permitted maximum; by giving Unitholders at least one month's prior notice. For details please refer to the section headed "Expenses and Charges" in the Explanatory Memorandum.
Investment Portfolio 1
Portfolio Characteristics
Average Duration (yrs) 2.98
Average Credit Rating AA+
Average Yield to Maturity 5.90%
Percentage Invested 97.10%
Credit Rating
Portfolio Allocation
Sector Allocation
1Source: CSOP, as of 30 April, 2014.
Performance
1 Month 3 Months 6 Months 1 Year Year to date Since Inception
CSOP Select RMB Bond Fund()
CSOP Select RMB Bond Fund()
No performance data can be displayed until 6 months from inception date.
All dollar amounts are in CNY and all dates are in GMT+8 Time, unless otherwise specified.
Performance is calculated on NAV to NAV.
As of
Summary of NAV
Class Units Inception date Latest unit price Last valuation date
I RMB (Class I) 2014-07-02 RMB 9.77 2015-06-29

To check historical prices, simply select the fund and the periods required.

Class
Units
From
To

    Important information about Dividend out of capital / effectively out of capital
    • The Manager may, at its discretion, pay dividend out of capital. The Manager may also, at its discretion, pay dividend out of gross income while all or part of the fees and expenses of the ETF are charged to/paid out of the capital of the ETF, resulting in an increase in distributable income for the payment of dividends by the ETF and therefore, the ETF may effectively pay dividend out of capital.
    • Payments of dividends out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from capital gains attributed to that original investment. Any distributions involving payment of dividends out of the ETF’s capital or effectively out of capital may result in an immediate reduction in the Net Asset Value (“NAV”) per Unit.
    Distribution History
    Ex-Date Record Date Payable Date Dividend Per Share Dividend Paid Out
    of Net Distributable Income*
    for the month
    Dividend Paid Out
    of Capital
    2014-4-17 2014-4-22 2014-4-28 RMB 0.1 per share RMB 0.08 RMB 0.02
    *“Net distributable income” means the net investment income (i.e. dividend income and interest income net of fees and expenses) attributable to the relevant share class and may also include net realised gains (if any) based on unaudited management accounts. However, “net distributable income” does not include net unrealised gains.
    Warning: Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the table above There is no guarantee of distribution.Investors should read the relevant offering document (including the key facts statement) of the fund for further details including the risk factors.

    All dollar amounts are in RMB. All dates are in GMT+8 Time. Any exceptions are noted.

    Documents
    Explanatory Memorandum
    Product Key Facts
    For request of the fund literature hardcopies, please contact us.
    All documents are in PDF format.

    Download Acrobat Reader.
    Announcement
    Audited Accounts as at 31 December 2015
    Notice to Investors
    For request of the fund literature hardcopies, please contact us.
    All documents are in PDF format.

    Download Acrobat Reader.
    Financial Reports
    Audited Accounts
    Annual Report
    For request of the fund literature hardcopies, please contact us.
    All documents are in PDF format.

    Download Acrobat Reader.
    Disclaimer

    Investment involves risks. Please refer to the Explanatory Memorandum and the Key Facts Statement for details of the risks of investing in the Fund. Future performance and the capital value of the Fund are not guaranteed. Past performance figures are not an indicative for future performance. The value of units may rise as well as fall. Investors are reminded that in certain circumstances their right to redeem may be suspended. We recommend investors obtain and read a copy of the Explanatory Memorandum and the Key Facts Statement before investing. This material has not been reviewed by SFC in Hong Kong.