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Important Information

      I. Value Partners Greater China High Yield Income Fund (the “Fund”) primarily invests in a portfolio of fixed and floating rate bonds and other debt securities, including convertible bonds, in the Greater China region.
      II. The Fund may invest in high yielding securities which may be unrated or below investment grade and debt securities issued by special purpose vehicles. The Fund is therefore exposed to higher credit/insolvency risk and default risk.
      III. The Fund primarily invests in the Greater China region and therefore is subject to emerging market and concentration risks. Generally, investments in emerging markets are more volatile than investments in developed markets due to additional risks relating to political, social, economic and regulatory uncertainty. Adverse development in such region may affect the value of the underlying securities in which the Fund invests.
      IV. In respect of the distribution shares for the Fund, the Manager currently intends to make monthly dividend distribution. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the Fund. Distribution may be paid from capital of the Fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease of the net asset value per share of the Fund.
      V. The Fund may also invest in derivatives which can involve material risks, e.g. counterparty default risk, insolvency or liquidity risk, and may expose the Fund to significant losses.
      VI. You should not make investment decision on the basis of this marketing material alone. Please read the explanatory memorandum for details and risk factors.
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Finding alpha opportunities in Asia’s fixed income markets
Global inflation remains the dominating theme in the coming quarters and expectations of interest rate hikes in the U.S. continue to heat up. With tighter financial conditions in the U.S., what impact will these have on Asia's fixed income market? Anna Ho, our Head of Credit Research and Strategy, gives her insights on where to find investment opportunities in the Asian debt market.
Nine-year track record of success
through various investment cycles
Payout of around 10.8% p.a. for monthly distribution classes1,2
(Dividend yield is not guaranteed and may be distributed out of capital)
Please refer to Important Information IV
Capture investment opportunities
in the offshore high-yield bond market in Greater China
Why invest in Value Partners Greater China High Yield Income Fund?
Seeking high yield assets while interest rate remain low

  • The ultra-low-rate environment attracts inflows to the Asian credit market, especially in the high yield bond space
  • China high yield bonds are a destination for relative value, based on their outstanding yield relative to the U.S. and E.U. high yield markets
  • China high yield bonds offer attractive value with credit spread exceeding 2,200 bps*
Bond valuation in different credit markets

(LHS)Source: JP Morgan Asia Credit Index, Bloomberg Index, as of 20 January 2022. China HY: ICE BofA Asian Dollar High Yield Corporate China Issuers Index; U.S. HY: ICE BofA US High Yield Index; Europe HY: ICE BofA Europe High Yield Index. (RHS) *Source: JP Morgan Asia Credit Index, Bloomberg Index, as of 20 January 2022.
Enjoy monthly income2 and better return potential

  • The Fund has over nine years of proven track record in the Greater China offshore high-yield bond market with attractive monthly payout2

Managed by award-winning fixed income team
With Value Partners' extensive research resources in Asia, rigorous credit analysis and prudent investment process, our award-winning fixed income team and products are highly recognized by the industry. A seasoned and cohesive team of 10 investment professionals, with in-depth knowledge and proven investment expertise in the Asian bond markets, as well as specialized sectors.
 
For more details, please contact your bank or investment consultant. You may also contact our Fund Investor Services Team.

Hotline: +852 2143 0608
Email: hkenquiry@vp.com.hk
Other fund in focus:
Related investment insights:
Source: HSBC Institutional Trust Services (Asia) Limited and Bloomberg.
1. For Class P USD MDis, as at 28 February 2022. 2. The manager intends to declare and pay monthly dividends equal to all or substantially all of the net income attributable to each of the Distribution Classes. However, there is neither a guarantee that such dividends will be made nor will there be a target level of dividend payout. No dividends will be paid with respect to the Accumulation Classes. Distribution may be paid from capital of the fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount that have been originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units. Please refer to the explanatory memorandum for further details including the distribution policy. Annualized yield of MDis Class is calculated as follows: (Latest dividend amount/NAV as at ex-dividend date) x 12. Investors should note that yield figures are estimated and for reference only and do not represent the performance of the Fund, and that there is no guarantee as to the actual frequency and/or amount of dividend payments. 3. The assessment of each award category is based on 3 weighted criteria, and one weighted criterion based on feedback from private banking fund selectors. The weightings includes product performance (30%), asset gathering (20%), service competency/quality (20%) and fund selector feedback (30%). 4. The award reflects performance over the past 5 years to 31 December 2020. 5. The awards recognize the top performing Greater China Fixed Income funds issued by CAMAHK members with at least 1 year of historical performance as of 30 Sep 2020. The Best Total Return calculation methodology, Bloomberg calculates the customized 1 year, 3 years and 5 years total return using Bloomberg calc route field "RT095 - Custom Total Return Holding Period". 6. The award reflects performance up to 31 December 2019.

The views expressed are the views of Value Partners Hong Kong Limited only and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All materials have been obtained from sources believed to be reliable, but their accuracy is not guaranteed. This material contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Investors should note investment involves risk and past performance is not indicative of future results. Investors should refer to the explanatory memorandum for details and risk factors in particular those associated with investment in Greater China markets in the Asian region, non-investment grade and unrated debt securities and debt securities issued by special purpose vehicles. Investors should seek advice from a financial adviser before making any investment. In the event that you choose not to do so, you should consider whether the investment selected is suitable for you. The website has not been reviewed by the Securities and Futures Commission of Hong Kong. Issuer: Value Partners Hong Kong Limited.