CICC RMB Investment Fund Series CICC RMB Fixed Income Fund

Transcription

1 CICC Investment Fund Series CICC Fixed Income Fund Unaudited Interim Report For the Period 30 June 2014

2 CONTENTS Page STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF ASSETS AND LIABILITIES STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS STATEMENT OF MOVEMENTS IN INVESTMENT PORTFOLIO PERFORMANCE TABLE PERFORMANCE RECORD INVESTMENT PORTFOLIO MANAGEMENT AND ADMINISTRATION i

3 STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) for the Period from 1st January 2014 to 30th June /06/ /12/2013 Dividend income 521,085 1,634,126 Interest income 15,645,760 42,439,209 Net gain/(loss) on investments at fair value through profit or loss 18,514,438 (32,373,927) Net foreign exchange (loss)/gain (4,655) 2,598 Net investment gain 34,676,628 11,702,006 Management fees 2,574,539 7,454,287 Trustee s fees 487,164 1,342,225 Custodian fee 284, ,731 Transaction costs 275, ,653 Auditor s remuneration 136, ,792 Other operating expenses 208, ,291 Operating expenses (3,967,195) (10,281,979) Profit before taxation 30,709,433 1,420,027 Taxation (1,082,956) (2,216,785) Profit/(Loss) before distributions 29,626,477 (796,758) Distributions to unitholders (8,642,054) (15,083,817) Increase/(Decrease) in net assets attributable to unitholders and total comprehensive income for the period 20,984,423 (15,880,575) 1

4 STATEMENT OF ASSETS AND LIABILITIES (UNAUDITED) as at 30th June /06/ /12/2013 Assets Investments at fair value through profit or loss 467,785, ,623,734 Cash and cash equivalents 24,409,779 12,110,326 Interest and dividend receivables 9,524,964 17,691,046 Deposit reserve 280, ,000 Other assets 678, ,532 Amount receivable on sales of investments Total assets 502,678, ,474,638 Liabilities Redemptions payable 2,837,824 5,026,139 Current taxation 6,024,266 5,495,370 Deferred tax liabilities 509,756 14,522 Accrued expenses and other payables 1,237,716 1,996,271 Total liabilities (excluding net assets attributable to unitholders) 10,609,562 12,532,302 Net assets attributable to unitholders 492,069, ,942,336 Represented by: Net assets attributable to unitholders (for subscription or redemption purpose) 492,069, ,942,336 Net assets attributable to unitholders (for financial reporting purpose) 492,069, ,942,336 Number of units in issue (Class A) 8,802,965 17,616,907 Number of units in issue (Class I) 39,425,954 63,491,236 Net asset value per unit (Class A) Net asset value per unit (Class I)

5 STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (UNAUDITED) for the Period from 1st January 2014 to 30th June 2014 For the period from 1st For the Year January 2014 ended 31st to 30th June 2014 December 2013 Balance at the beginning of the period 800,942, ,542,344 Increase/(decrease) in net assets attributable to unitholders and total comprehensive income for the period 20,984,423 (15,880,575) Transaction with unitholders Subscriptions of units 8,777, ,541,790 Redemptions of units (338,635,376) (145,261,223) Total transactions with unitholders (329,857,523) 19,280,567 Balance at the end of the period 492,069, ,942,336 3

6 STATEMENT OF MOVEMENTS IN INVESTMENT PORTFOLIO (UNAUDITED) For the Period from 1st January 2014 to 30th June 2014 Listed investments % of % of net asset value net asset value 30/06/ /12/2013 Fixed Interest securities China Unlisted investments Fixed Interest securities China Collective Investment Schemes China Total listed/quoted investment Other net assets Total net assets

7 PERFORMANCE TABLE (UNAUDITED) Net asset value Total per unit net asset value Class A Class I Class A Class I As at 30th June ,426, ,642,694 As at 31st December ,406, ,535,541 5

8 PERFORMANCE RECORD (UNAUDITED) Highest net Lowest net asset value asset value per unit per unit Class A Class I Class A Class I Period ended 30th June Period ended 31st December

9 INVESTMENT PORTFOLIO (UNAUDITED) As at 30th June 2014 Holdings/ % of Nominal Value Market Value net asset Listed investments Fixed Interest securities China CHINA MINSHENG BANKING CORP LTD CB 0.6% A 15MAR ,000,000 10,203, CHINA SHIPBUILDING INDUSTRY CORP CB 1% A 04JUN2018 2,000,000 2,271, GD POWER DEVELOPMENT CO LTD CB 1% A 19AUG ,000,000 13,543, GUANGZHOU R&F PROPERTIES CO LTD 7.15% A 23OCT ,000,000 20,112, JIANGSU CHANGQING AGROCHEMICAL CO LTD CB 0.6% A 20JUN2020 1,175,000 1,175, SAILUN CO LTD 5.85% A 15NOV ,074,000 19,993, SHANGHAI CHALLENGE TEXTILE CO LTD 7.5% A 19MAR2019 1,214,000 1,210, ZIBO QIXIANG TENGDA CHEMICAL CO LTD CB 0.8% A 18APR , , ,833, Unlisted investments Fixed Interest Securities China CHINA DEVELOPMENT BANK 5.04% A 24OCT ,200,000 48,371, CHINA DEVELOPMENT BANK CORP 5.75% A 14JAN ,000,000 20,793, CHINA DEVELOPMENT BANK CORP 5.79% A 14JAN ,000,000 10,461, CHINA DEVELOPMENT BANK CORP 5.9% A 20JAN2024 8,500,000 9,100, CHINA MINMETALS CO LTD 4.9% A 19OCT ,000,000 20,000, CHINA NATIONAL HEAVY DUTY TRUCK GROUP CO LTD 5.56% A 19APR ,000,000 10,022, CHINA POWER INVESTMENT CORP 4.83% A 16MAY ,000,000 20,011,

10 INVESTMENT PORTFOLIO (UNAUDITED) As at 30th June 2014 Holdings/ % of Nominal Value Market Value net asset Unlisted investments (continued) Fixed Interest Securities (continued) China (continued) CHINA YANGTZE POWER CO LTD 5.1% A 11APR ,000,000 10,023, CHONGQING ENERGY INVESTMENT GROUP 6.47% A 22MAY ,000,000 30,459, DELIXI GROUP 8.5% A 14MAR ,000,000 30,298, GUANGDONG PROVINCIAL RAILWAY CONSTRUCTION INVESTMENT GROUP CO LTD 6.55% A 04MAR ,000,000 20,459, GUANGZHOU URBAN CONSTRUCTION INVESTMENT GROUP CORP 4.78% A 16MAY ,000,000 29,414, JIANGSU SUNSHINE GROUP CO LTD 5.86% A 18APR ,000,000 19,838, JIANGSU YANGHE GROUP CO LTD 5.48% A 12SEP ,000,000 29,926, SHANGHAI NANHUI DEVELOPMENT GROUP CO LTD 5.11% A 10MAY ,000,000 29,353, SHENZHEN MAOYE TRADE BUILDING CO LTD 5.3% A 10JUN ,000,000 20,000, XINGYUAN TYRE GROUP CO LTD 7.69% A 14FEB ,000,000 20,087, YINGKOU PORT GROUP CO LTD 6.5% A 28FEB ,000,000 20,327, ,950,

11 INVESTMENT PORTFOLIO (UNAUDITED) As at 30th June 2014 Holdings/ % of Nominal Value Market Value net asset Unlisted investments (continued) Collective Investment Schemes China HARVEST MONEY MARKET FUND-A 1,270 1, Total listed/quoted investment 467,785, Other net assets 24,284, Total net assets as at 30th June ,069, Total investments, at cost 465,603,442 9

12 MANAGEMENT AND ADMINISTRATION Manager China International Capital Corporation Hong Kong Asset Management Limited 25th and 29th Floor One International Finance Centre 1 Harbour View Street Central Hong Kong Investment Adviser China International Capital Corporation Limited 28/F, China World Office 2 No. 1 Jian Guo Men Wai Avenue Beijing the People s Republic of China Trustee and Registrar BOCI-Prudential Trustee Limited 12/F & 25/F, Citicorp Centre 18 Whitfield Road Causeway Bay Hong Kong RQFII Custodian Bank of China Limited No.1, Fuxingmen Nei Dajie Beijing China Directors of the Manager Cui Chun Qian Ruxiang Deng Jun Bao Haimiao RQFII Holder China International Capital Corporation (Hong Kong) Limited 29th Floor, One International Finance Centre 1 Harbour View Street Central Hong Kong Custodian Bank of China (Hong Kong) Limited 14/F, Bank of China Tower 1 Garden Road Hong Kong Legal Adviser to the Manager Deacons 5/F, Alexandra House 18 Chater Road Central Hong Kong Auditor KPMG 8th Floor, Prince s Building 10 Chater Road Central Hong Kong Issued by China International Capital Corporation Hong Kong Asset Management Limited, the Manager of the CICC Fixed Income Fund. 10