Value Partners Intelligent Funds –
Chinese Mainland Focus Fund
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Risk Disclosure
- Chinese Mainland Focus Fund (The “Fund”) invests primarily in investments which are related to mainland China.
- The Fund invests in China-related companies which involve certain risks not typically associated with investment in more developed markets, such as greater political, tax, economic, foreign exchange, liquidity and regulatory risks.
- The Fund is also subject to concentration risk due to its concentration in China-related companies. Adverse development in such region may affect the value of the underlying securities in which the Fund invests.
- Investing in China exposes the Fund to additional risks including currency repatriation risk, uncertainty of taxation policies and risk associated with StockConnects, RQFII Quota, SME board, ChiNext market and/or the STAR board. The Fund may also expose to RMB currency and conversion risk.
- Investing in small /mid-capitalization securities may have lower liquidity and their prices are more volatile to adverse economic developments.
- It is possible that the entire value of your investment could be lost. You should not make investment decision on the basis of this material alone. Please read the explanatory memorandum for details and risk factors.
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Performance
Performance Update
Annual Returns
Annual Returns
Performance Since Launch as at 17-04-2024
Performance Since Launch
MSCI China Index (Total Net Return) takes into account of dividend reinvestment after deduction of withholding tax.
Source: Value Partners & Morningstar
Performance shown is NAV to NAV in denominated currency with income reinvested and net of fees. For funds/classes denominated in foreign currencies, US/HK dollar-based investors are therefore exposed to fluctuations in the currency exchange rate.
Investment involves risk. Past performance is not indicative of future performance. The price of units/NAV per share can go down as well as up and is not guaranteed. Investors may not get back the full amount invested. Please refer to the relevant offering documents including the risk factors. All indices are for reference only.
+The Fund is one of the eligible collective investment schemes for the purpose of the New Capital Investment Entrant Scheme (New CIES) in Hong Kong with effect from 1 March 2024. -
Fund Facts
Investment objectives
The Fund aims to achieve medium to long-term capital appreciation by focusing on investments related to mainland China. This includes RMB-denominated corporate and government bonds, listed or unlisted shares issued by companies whose assets and/or revenues are principally denominated in RMB and/or whose costs or liabilities are principally denominated in US dollars. The investable universe can also cover A, B and H-shares.
Fund manager Value Partners Limited
Custodian HSBC Institutional Trust Services (Asia) Limited
Launch date 27-11-2003
Fund size USD111.66 million ( as at 18-04-2024 ) Minimum subscription USD10,000 or equivalent
Minimum subsequent subscription USD5,000 or equivalent
Subscription fee Up to 5%Management fee 1.25% per annum
Redemption fee Nil
Performance fee 15% of profit^ (high-on-high principle)Dealing frequency Daily
^Performance fees will only be charged if the NAV at the end of the financial year exceeds the “high watermark”, which is the all-time year-end high of the fund’s NAV. If in any one year, the fund suffers a loss, no performance fee can be charged in subsequent years until the loss is recovered fully (the high-on-high principle).
+The Fund is one of the eligible collective investment schemes for the purpose of the New Capital Investment Entrant Scheme (New CIES) in Hong Kong with effect from 1 March 2024. -
Documents
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Historical Prices
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Awards
Year Award Organizers 2018 2018 Thomson Reuters Lipper Fund Award (Hong Kong)
Best China Equity Fund – 10 YearsBased on returns as of year-end 2017.
Thomson Reuters 2013 Lipper Fund Awards 2013 (Hong Kong)
Best China Equity Fund – 5 YearsBased on returns as of year-end 2012.
Lipper 2012 Lipper Fund Awards 2012 (Hong Kong)
Best China Equity Fund – 3 YearsBased on returns as of year-end 2011.
Lipper 2011 Top 100 Funds of the Year 2010
China Equity – Best in ClassBased on fund size, track record, Morningstar’s Star rating and one year absolute ranking as at month end October 2010.
Benchmark Investment involves risk. Past performance is not indicative of future performance. The price of units/NAV per share can go down as well as up and is not guaranteed. Investors may not get back the full amount invested. Please refer to the relevant offering documents including the risk factors.
Year Award Organizers 2018 2018 Thomson Reuters Lipper Fund Award (Hong Kong)
Best China Equity Fund – 10 YearsBased on returns as of year-end 2017.
Thomson Reuters 2013 Lipper Fund Awards 2013 (Hong Kong)
Best China Equity Fund – 5 YearsBased on returns as of year-end 2012.
Lipper 2012 Lipper Fund Awards 2012 (Hong Kong)
Best China Equity Fund – 3 YearsBased on returns as of year-end 2011.
Lipper 2011 Top 100 Funds of the Year 2010
China Equity – Best in ClassBased on fund size, track record, Morningstar’s Star rating and one year absolute ranking as at month end October 2010.
Benchmark Investment involves risk. Past performance is not indicative of future performance. The price of units/NAV per share can go down as well as up and is not guaranteed. Investors may not get back the full amount invested. Please refer to the relevant offering documents including the risk factors.
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