Value Partners Fund Series OFC –
Value Partners Printed Circuit Board Active ETF (Unlisted Classes)
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Risk Disclosure
- Investment involves risk. Past performance is not indicative of future performance. Investor should not make any investment decision solely based on the information provided on this material. Investors should refer to the Prospectus and the Key Facts Statement of the Fund for further details, including the product features and risk factors before making any investment decisions.
- Value Partners Printed Circuit Board Active ETF (the Fund) will invest primarily in equity and equity-related securities of exchange-listed companies throughout the world, which derive the majority of their latest revenues or operating profits (as determined by the Manager based on publicly available disclosures and company filings) from Printed Circuit Board (PCB) related products or services (including but not limited to PCB raw materials, Copper Clad Laminates (CCL), multi-layer boards, integrated circuit (IC) substrates, manufacturing equipment, and engineering services)
- The Manager employs an actively managed investment strategy for the Fund. The Fund does not seek to track any index or benchmark, it may fail to meet its objective as a result of the Manager’s selection of investments, and/or the implementation of processes which may cause the Fund to underperform as compared to other funds with a similar objective.
- The Fund will invest primarily in companies deriving the majority of their revenues or operating profits from PCB-related products or services. The Fund is therefore likely to be more volatile than a broad-based fund that adopts a more diversified strategy. The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events affecting the relevant market or region in which its investments are focused.
- PCB companies are exposed to risks including, but not limited to, rapid changes in technology, intense competition, government regulation, and obsolescence risk. Securities of such companies may be subject to greater price volatility than securities of companies in other sectors, particularly over the short term.
– Many PCB companies operate in capital-intensive manufacturing segments that require significant ongoing investment in production capacity, advanced materials, and process technology, making them particularly sensitive to fluctuations in end-market demand and capacity utilization rates.
– The technologies in which these companies are engaged are subject to continuous evolution, including miniaturization requirements, higher layer counts, tighter tolerances, and increasingly complex substrate architectures, and there is no guarantee that any particular manufacturing process, materials platform, or packaging technology will maintain its competitive position or prove commercially viable over the long term.
– PCB companies may also be dependent upon a limited number of large customers, particularly original equipment manufacturers and contract electronics manufacturers, and the loss of, or a significant reduction in orders from, any such customer could have a disproportionate impact on revenues.
– The growth and profitability of PCB companies may be contingent upon the broader adoption of artificial intelligence, high-performance computing, 5G and advanced telecommunications infrastructure, electric vehicles, and advanced semiconductor packaging technologies. A slowdown or disruption in the growth of these related sectors, or a shift in industry standards, supply chain configurations, or trade policies – including tariffs, export controls, or restrictions on the sourcing of critical raw materials – could materially and adversely affect the revenues and profitability of PCB companies in which the Fund invests. - Such PCB companies may also be engaged in other lines of business unrelated to PCB related products or services, and these lines of business could adversely affect their operating results. There can be no assurance that the other lines of business in which these companies are engaged will not have an adverse effect on a company’s business or financial condition.
- The Fund will invest in emerging markets such as Mainland China, which are subject to higher risks (for example, liquidity risk, currency risk, political risk, regulatory risk, legal and taxation risks, settlement risk, custody risk and economic risk) and higher volatility than more developed markets.
- The stocks of small-capitalisation/ mid-capitalisation companies may have lower liquidity and their prices are more volatile and susceptible to adverse economic developments than those of larger capitalisation companies in general.
- Companies listed on the ChiNext market or STAR Board with generally lower listing eligibility criteria than main boards are usually of emerging nature with a smaller operating scale. Hence, investments in such boards may be subject to higher fluctuations in stock prices as well as liquidity, over valuation and delisting risks, and may result in significant losses for the Fund and its investors.
- The Fund may be terminated early under certain circumstances, for example, if the size of the Fund falls below USD 10 million (or equivalent). Investors may not be able to recover their investments and suffer a loss when the Fund is terminated.
- The Fund may invest in financial derivative instruments (FDIs) for hedging and investment purposes. Risks associated with FDIs include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element / component of an FDI can result in a loss significantly greater than the amount invested in the FDI by the Fund.
- The Fund offers both listed class of Shares (the “Listed Class of Shares”) and unlisted classes of Shares (the “Unlisted Classes of Shares”). Investors of Listed and Unlisted Classes of Shares are subject to different pricing and dealing arrangements. Investors of the Listed Class of Shares in the secondary market could only redeem at the prevailing market price (which may diverge from the corresponding NAV) and may have to exit the Fund at a significant discount. Shares of the Unlisted Classes of Shares are sold through intermediaries based on the dealing day-end NAV and are dealt at a single valuation point with no access to intraday liquidity in an open market.
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Performance
Performance Update
Since the Sub-Fund is newly set up, there is insufficient data to provide a useful indication of past performance to investors.
Annual Returns
Since the Sub-Fund is newly set up, there is insufficient data to provide a useful indication of past performance to investors.
Performance Since Launch
Since the Sub-Fund is newly set up, there is insufficient data to provide a useful indication of past performance to investors.
Holdings as at 30-10-2026
Download the full holding listHolding Net Assets (%) Stock Code Unimicron Technology Corp 8.870 3037 TT Kingboard Laminates Holdings Ltd 7.810 1888 HK WUS Printed Circuit (Kunshan) Co., Ltd. 7.780 002463 CH Elite Material Co Ltd 7.620 2383 TT Shengyi Technology Co Ltd A SHARES 7.500 600183 CH Shennan Circuits Co Ltd A SHARES 6.790 002916 CH DELTON TECHNOLOGY GUANGZH-H 6.610 1989 HK Ibiden Co Ltd 6.490 4062 JP Taiwan Union Technology Corp 5.160 6274 TT SHENZHEN KINWONG ELECTRON-H 5.060 3228 HK NAN YA PRINTED CIRCUIT BOARD CORPORATION 4.850 8046 TT Gold Circuit Electronics Ltd 4.160 2368 TT Founder Technology Group Corp. 3.370 600601 CH Nitto Boseki Co Ltd 3.230 3110 JP MITSUI MINING & SMELTING CO 3.200 5706 JP VICTORY GIANT TECHNOLOGY-A 2.780 300476 CH DOOSAN CO LTD 2.110 000150 KP Since the Sub-Fund is newly set up, there is insufficient data to provide a useful indication of past performance to investors.
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.
+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 Objective
The investment objective of the Sub-Fund is to seek to achieve long term capital appreciation by providing focused exposure to exchange-listed companies globally, which derive a majority of their revenues or operating profits from Printed Circuit Board (“PCB”) related products or services throughout the world.
Fund manager Value Partners Hong Kong Limited
Custodian CMB Wing Lung (Trustee) Limited
Launch date 23-10-2026
Classes available Class A: USD, HKD
Class I: USD, HKD
Class S: USDDealing frequency Daily (each business day)
Fund Size USD3.76 million ( as at 30-10-2026 ) Base currency US dollars (USD)
Minimum initial investment Class A USD: USD 1 or equivalent
Class A HKD: HKD 8 or equivalent
Class I USD: USD 10,000,000 or equivalent
Class I HKD: HKD 80,000,000 or equivalent
Class S USD: USD 1 or equivalentMinimum subsequent investment Class A USD, Class I USD and Class S USD: USD 0.5 or equivalent
Class A HKD and Class I HKD: HKD 0.5 or equivalent
Subscription fee Class A and Class I: Up to 5% of the subscription amount
Class S: NilManagement fee* Class A: 0.99% per annum
Class I: 0.60% per annum
Class S : NilOngoing charges over a year# Class A USD Shares: 1.50%
Class A HKD Shares: 1.50%
Class I USD Shares: 1.11%
Class I HKD Shares: 1.11%
Class S USD Shares: 0.51%#The ongoing charges figure is indicative only as the Sub-Fund is newly set up. It represents the sum of the estimated ongoing expenses over a 12-month period chargeable to the relevant class expressed as a percentage of the estimated average NAV of the relevant class over the same period. The actual figure may be different from this estimated figure and it may vary from year to year. For the 12-month period from the launch of the Sub-Fund, the ongoing charges of each class is capped as follows: 1.50% (for Class A USD and Class A HKD Shares); 1.11% (for Class I USD and HKD Shares); 0.51% (for Class S USD Shares). Any ongoing expenses in respect of a class exceeding the relevant capped figure during this period will be borne by the Manager and will not be charged to the relevant class.
*Please note that some fees may be increased up to a permitted maximum amount by providing one month’s prior notice to Shareholders. Please refer to the section headed “Expenses and Charges” in the Prospectus for further details of the fees and charges payable and the permitted maximum of such fee allowed, as well as other ongoing expenses that may be borne by the Sub-Fund.+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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