ChinaAMC China Opportunities Fund Fund Factsheet

Transcription

1 ChinaAMC China Opportunities Fund Fund Factsheet As of 30 November /F, Bank of China Tower, 1 Garden Road, Hong Kong This Fund has not been authorized by the Hong Kong Securities and Futures Commission for marketing to the public in Hong Kong. This document is only intended for the information of existing and potential investors in Hong Kong who are qualified as professional investors as defined under the Hong Kong Securities and Futures Ordinance ("Professional Investor"). If you are in any doubt on the information herein or whether you are qualified as a Professional Investor, you should obtain independent professional advice. Investment Objective The investment objective of this fund is to seek long-term capital growth primarily through investments in China related listed equity and equity related instruments of companies around the world. Fund Information* Legal Structure Luxembourg SICAV (UCITS) Fund Manager WEN Liang Launch Date (Class A USD) 11-Oct, 2010 Fund Size USD million Fund Performance Dealing Frequency Daily Base Currency USD Class A (USD) Non-distributing Share Dealing Currencies USD/EUR/GBP Launch Price USD Initial Charge Up to 5% Management Fee Up to 1.8% p.a Bloomberg Ticker (Class A USD) CHCOAAU LX ISIN Code (Class A USD) LU Sedol Code (Class A USD) B4RKF Investment Manager China Asset Management (Hong Kong) Limited Management Company Custodian RBS (Luxembourg) S.A. State Street Bank Luxembourg S.A. 10/ / / / / / / / /2012 ChinaAMC China Opportunities Fund** *Please refer to the Fund's prospectus for further details (including fees). Cumulative Return 1-Month 3-Month 6-Month 1-Year Since Inception ChinaAMC China Opportunities Fund** +2.72% % 12.73% % +9.08% Annualised (Since Inception) +4.15% +1.86% % % % -6.62% -3.15% **ChinaAMC China Opportunities Fund and MSCI China Index include re-investment of dividends in USD. The base currency of MSCI China is HKD. Conversion from HKD to USD is based on exchange rates from Bloomberg as at respective dates. Monthly Return Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec % +0.84% -3.61% % -1.45% +6.34% +4.16% -0.76% -2.07% +5.52% -3.29% % % -6.90% +0.30% % +8.98% -7.34% +4.78% -9.48% +1.73% +1.03% -0.73% +3.51% +3.93% +2.72% YTD -0.45% -3.59% %

2 ChinaAMC China Opportunities Fund Manager's Comment Portfolio Allocation The Fund posted a return of 2.72% in November. As a reference, MSCI China was up 1.86%. Buoyed by capital inflows to emerging markets, offshore Chinese stocks remained robust in the month. Sector-wise, utilities and consumer discretionary outperformed while financials, energy, telecommunication and consumer staples were in line with the market. Healthcare, I.T., industrials and materials were the laggards. Performance of individual stocks was mixed this month with property sector and some automobile names performed strongly. In November, both official and HSBC PMI exceeded 50 for the first time these few months. Electricity output also rapidly rebounded to 7.4% YoY, suggesting that industrial activities will continue to improve in the coming months. The market expects that the government would set 7.5% as the target of 2013 GDP growth in the Central Economic Work Conference to be held in December. We expect a moderation in inflation in 1H13, giving the central bank more space to loosen monetary policies. As the political election has just finished, various reform proposals will be put on the agenda. We believe property and land reform in rural areas will be a key component of urbanization. For urban citizens, the government will very likely lower the standards for urban households to have a second child. Economists may have to revise their assumptions and predictions for China s growth again. Sector Exposure Financials Consumer Discretionary Health Care Telecommunication Services Information Technology Industrials Materials Energy Utilities Consumer Staples Country Exposure Hong Kong China B-Share 24.20% 15.32% 10.18% 9.47% 8.63% 7.44% 6.87% 6.81% 4.55% 2.67% 94.77% 1.37% We expect the Chinese government will fight against corruptions in high-profile to build up people s confidence in the new leaders. After participating in numbers of investment conferences, our key concern in mind is whether the sell-side views will become contrarian indicators again as they did last year. Cash and Cash Equivalents 3.86% Top 5 Equity Holdings Security Name Sector Weight GEELY AUTOMOBILE Consumer Discretionary 6.06% TENCENT HOLDINGS LTD Information Technology 5.84% CHINA MOBILE LTD Telecommunication Services 5.56% CNOOC LTD Energy 3.87% CHINA LIFE INSURANCE CO Financials 3.85% Customer Hotline: (852) Website: sicav.chinaamc.com sicav_services@chinaamc.com Risk Warning and Disclaimer 1. Fund performance data are for Class A (USD) while Portfolio Allocation and Top 5 Equity Holdings data are based on composite level (USD) unless otherwise specified. Performance is net of Fund level fees/expenses but not sales charges which will reduce returns. Please contact us for performance data of other share classes. 2. The Fund principally invests in China-related listed stocks listed in Hong Kong and the Mainland China. Investment involves risks. An investment is not a deposit and investors may be subject to substantial losses, and a loss of original capital may occur. Past performance is not a guide to future performance, future returns are not guaranteed. Key risks of the product may include, but not limited to, stock price volatility and risks related to investment in China markets. 3. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund, including all risk factors. 4. This Fund has not been registered or authorized with the Securities and Futures Commission ( the SFC ) and this document has not been reviewed by the SFC. You are advised to exercise caution in relation to the offer of this Fund. If you are in any doubt about the content of this document, you should obtain independent professional advice. 5. Information in this factsheet has been obtained from sources believed to be reliable but China Asset Management (Hong Kong) Limited does not guarantee its accuracy or completeness, and will not be liable for any damages arising out of or connected with the use of the information provided herein. 6. None of the information contained in this factsheet constitutes an invitation or solicitation to invest in any shares or units of the Fund; nor does it constitute any investment advice or recommendation to acquire or dispose of any investment or to engage in any transactions. 7. This factsheet was prepared and issued by China Asset Management (Hong Kong) Limited.

3 ChinaAMC China Opportunities Fund Fund Factsheet As of 30 November /F, Bank of China Tower, 1 Garden Road, Hong Kong This Fund has not been authorized by the Hong Kong Securities and Futures Commission for marketing to the public in Hong Kong. This document is only intended for the information of existing and potential investors in Hong Kong who are qualified as professional investors as defined under the Hong Kong Securities and Futures Ordinance ("Professional Investor"). If you are in any doubt on the information herein or whether you are qualified as a Professional Investor, you should obtain independent professional advice. Investment Objective The investment objective of this fund is to seek long-term capital growth primarily through investments in China related listed equity and equity related instruments of companies around the world. Fund Information* Legal Structure Fund Manager Launch Date (Class A EUR) Fund Size Luxembourg SICAV (UCITS) WEN Liang 11-Nov, 2010 USD million Fund Performance Dealing Frequency Daily Base Currency USD Class A (EUR) Non-distributing Share NAV Dealing Currencies USD/EUR/GBP Launch Price EUR Initial Charge Up to 5% Management Fee Up to 1.8% p.a Bloomberg Ticker (Class A EUR) CHCOAAE LX ISIN Code (Class A EUR) LU Sedol Code (Class A EUR) B4V Investment Manager China Asset Management (Hong Kong) Limited Management Company RBS (Luxembourg) S.A / / / / / / / / /2012 ChinaAMC China Opportunities Fund** Custodian State Street Bank Luxembourg S.A. *Please refer to the Fund's prospectus for further details (including fees). Cumulative Return 1-Month 3-Month 6-Month Since Inception Annualised (Since Inception) ChinaAMC China Opportunities Fund** +2.70% +6.91% +7.41% % +5.19% +2.49% 1-Year +1.61% % +9.62% % -7.69% -3.82% **ChinaAMC China Opportunities Fund and MSCI China Index include re-investment of dividends in EUR. The base currency of MSCI China is HKD. Conversion from HKD to EUR is based on exchange rates from Bloomberg as at respective dates. Monthly Return Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec % -6.20% % -2.51% +3.54% -0.43% +2.35% -2.56% +7.25% -4.58% -4.77% +6.73% -2.20% +3.22% % +6.84% -6.59% +5.70% -3.53% +0.28% +3.48% -3.18% +0.79% +3.28% +2.70% YTD -6.73% -0.13% %

4 ChinaAMC China Opportunities Fund Manager's Comment Portfolio Allocation The Fund posted a return of 2.70% in November. As a reference, MSCI China was up 1.61%. Buoyed by capital inflows to emerging markets, offshore Chinese stocks remained robust in the month. Sector-wise, utilities and consumer discretionary outperformed while financials, energy, telecommunication and consumer staples were in line with the market. Healthcare, I.T., industrials and materials were the laggards. Performance of individual stocks was mixed this month with property sector and some automobile names performed strongly. In November, both official and HSBC PMI exceeded 50 for the first time these few months. Electricity output also rapidly rebounded to 7.4% YoY, suggesting that industrial activities will continue to improve in the coming months. The market expects that the government would set 7.5% as the target of 2013 GDP growth in the Central Economic Work Conference to be held in December. We expect a moderation in inflation in 1H13, giving the central bank more space to loosen monetary policies. As the political election has just finished, various reform proposals will be put on the agenda. We believe property and land reform in rural areas will be a key component of urbanization. For urban citizens, the government will very likely lower the standards for urban households to have a second child. Economists may have to revise their assumptions and predictions for China s growth again. Sector Exposure Financials Consumer Discretionary Health Care Telecommunication Services Information Technology Industrials Materials Energy Utilities Consumer Staples Country Exposure Hong Kong China B-Share 24.20% 15.32% 10.18% 9.47% 8.63% 7.44% 6.87% 6.81% 4.55% 2.67% 94.77% 1.37% We expect the Chinese government will fight against corruptions in high-profile to build up people s confidence in the new leaders. After participating in numbers of investment conferences, our key concern in mind is whether the sell-side views will become contrarian indicators again as they did last year. Cash and Cash Equivalents 3.86% Top 5 Equity Holdings Security Name Sector Weight GEELY AUTOMOBILE Consumer Discretionary 6.06% TENCENT HOLDINGS LTD Information Technology 5.84% CHINA MOBILE LTD Telecommunication Services 5.56% CNOOC LTD Energy 3.87% CHINA LIFE INSURANCE CO Financials 3.85% Customer Hotline: (852) Website: sicav.chinaamc.com sicav_services@chinaamc.com Risk Warning and Disclaimer 1. Fund performance data are for Class A (EUR) while Portfolio Allocation and Top 5 Equity Holdings data are based on composite level (USD) unless otherwise specified. Performance is net of Fund level fees/expenses but not sales charges which will reduce returns. Please contact us for performance data of other share classes. 2. The Fund principally invests in China-related listed stocks listed in Hong Kong and the Mainland China. Investment involves risks. An investment is not a deposit and investors may be subject to substantial losses, and a loss of original capital may occur. Past performance is not a guide to future performance, future returns are not guaranteed. Key risks of the product may include, but not limited to, stock price volatility and risks related to investment in China markets. 3. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund, including all risk factors. 4. This Fund has not been registered or authorized with the Securities and Futures Commission ( the SFC ) and this document has not been reviewed by the SFC. You are advised to exercise caution in relation to the offer of this Fund. If you are in any doubt about the content of this document, you should obtain independent professional advice. 5. Information in this factsheet has been obtained from sources believed to be reliable but China Asset Management (Hong Kong) Limited does not guarantee its accuracy or completeness, and will not be liable for any damages arising out of or connected with the use of the information provided herein. 6. None of the information contained in this factsheet constitutes an invitation or solicitation to invest in any shares or units of the Fund; nor does it constitute any investment advice or recommendation to acquire or dispose of any investment or to engage in any transactions. 7. This factsheet was prepared and issued by China Asset Management (Hong Kong) Limited.

5 ChinaAMC China Opportunities Fund Fund Factsheet As of 30 November /F, Bank of China Tower, 1 Garden Road, Hong Kong This Fund has not been authorized by the Hong Kong Securities and Futures Commission for marketing to the public in Hong Kong. This document is only intended for the information of existing and potential investors in Hong Kong who are qualified as professional investors as defined under the Hong Kong Securities and Futures Ordinance ("Professional Investor"). If you are in any doubt on the information herein or whether you are qualified as a Professional Investor, you should obtain independent professional advice. Investment Objective Fund Information* The investment objective of this fund is to seek long-term capital growth primarily through investments in China related listed equity and equity related instruments of companies around the world. Legal Structure Fund Manager Launch Date (Class I USD) Fund Size Luxembourg SICAV (UCITS) WEN Liang 22-Dec, 2011 USD million Fund Performance Dealing Frequency Daily Base Currency USD Class I (USD) Non-distributing Share Dealing Currencies USD/EUR/GBP Launch Price USD Initial Charge Management Fee Bloomberg Ticker (Class I USD) ISIN Code (Class I USD) Sedol Code (Class I USD) None Up to 1% p.a. CHCOIAU LX LU B4YRXQ Investment Manager Management Company China Asset Management (Hong Kong) Limited RBS (Luxembourg) S.A / / / / / /2012 ChinaAMC China Opportunities Fund** Custodian State Street Bank Luxembourg S.A. *Please refer to the Fund's prospectus for further details (including fees). Cumulative Return 1-Month 3-Month 6-Month 1-Year Since Inception ChinaAMC China Opportunities Fund** +2.78% % % % +1.86% % % % **ChinaAMC China Opportunities Fund and MSCI China Index include re-investment of dividends in USD. The base currency of MSCI China is HKD. Conversion from HKD to USD is based on exchange rates from Bloomberg as at respective dates. Monthly Return Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec % % +8.98% -7.33% +4.79% -9.48% +1.72% +1.07% +0.00% +3.59% +4.02% +2.78% YTD -0.33% %

6 ChinaAMC China Opportunities Fund Manager's Comment Portfolio Allocation The Fund posted a return of 2.78% in November. As a reference, MSCI China was up 1.86%. Buoyed by capital inflows to emerging markets, offshore Chinese stocks remained robust in the month. Sector-wise, utilities and consumer discretionary outperformed while financials, energy, telecommunication and consumer staples were in line with the market. Healthcare, I.T., industrials and materials were the laggards. Performance of individual stocks was mixed this month with property sector and some automobile names performed strongly. In November, both official and HSBC PMI exceeded 50 for the first time these few months. Electricity output also rapidly rebounded to 7.4% YoY, suggesting that industrial activities will continue to improve in the coming months. The market expects that the government would set 7.5% as the target of 2013 GDP growth in the Central Economic Work Conference to be held in December. We expect a moderation in inflation in 1H13, giving the central bank more space to loosen monetary policies. As the political election has just finished, various reform proposals will be put on the agenda. We believe property and land reform in rural areas will be a key component of urbanization. For urban citizens, the government will very likely lower the standards for urban households to have a second child. Economists may have to revise their assumptions and predictions for China s growth again. Sector Exposure Financials Consumer Discretionary Health Care Telecommunication Services Information Technology Industrials Materials Energy Utilities Consumer Staples Country Exposure Hong Kong China B-Share 24.20% 15.32% 10.18% 9.47% 8.63% 7.44% 6.87% 6.81% 4.55% 2.67% 94.77% 1.37% We expect the Chinese government will fight against corruptions in high-profile to build up people s confidence in the new leaders. After participating in numbers of investment conferences, our key concern in mind is whether the sell-side views will become contrarian indicators again as they did last year. Cash and Cash Equivalents 3.86% Top 5 Equity Holdings Security Name Sector Weight GEELY AUTOMOBILE Consumer Discretionary 6.06% TENCENT HOLDINGS LTD Information Technology 5.84% CHINA MOBILE LTD Telecommunication Services 5.56% CNOOC LTD Energy 3.87% CHINA LIFE INSURANCE CO Financials 3.85% Customer Hotline: (852) Website: sicav.chinaamc.com sicav_services@chinaamc.com Risk Warning and Disclaimer 1. Fund performance data are for Class I (USD) while Portfolio Allocation and Top 5 Equity Holdings data are based on composite level (USD) unless otherwise specified. Performance is net of Fund level fees/expenses but not sales charges which will reduce returns. Please contact us for performance data of other share classes. 2. The Fund principally invests in China-related listed stocks listed in Hong Kong and the Mainland China. Investment involves risks. An investment is not a deposit and investors may be subject to substantial losses, and a loss of original capital may occur. Past performance is not a guide to future performance, future returns are not guaranteed. Key risks of the product may include, but not limited to, stock price volatility and risks related to investment in China markets. 3. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund, including all risk factors. 4. This Fund has not been registered or authorized with the Securities and Futures Commission ( the SFC ) and this document has not been reviewed by the SFC. You are advised to exercise caution in relation to the offer of this Fund. If you are in any doubt about the content of this document, you should obtain independent professional advice. 5. Information in this factsheet has been obtained from sources believed to be reliable but China Asset Management (Hong Kong) Limited does not guarantee its accuracy or completeness, and will not be liable for any damages arising out of or connected with the use of the information provided herein. 6. None of the information contained in this factsheet constitutes an invitation or solicitation to invest in any shares or units of the Fund; nor does it constitute any investment advice or recommendation to acquire or dispose of any investment or to engage in any transactions. 7. This factsheet was prepared and issued by China Asset Management (Hong Kong) Limited.