Baring Korea Feeder Fund

Transcription

1 Baring Feeder Fund Morningstar RatingOverall Morningstar 5 Overall Morningstar Rating «««As of The Fund is subject to risks, such as equities, investment, and risks relating to master/feeder fund structure. 2. Investment in the units of the Baring Trust, which invests substantially in, is subject to the risk of investing in specific country and higher concentration risk as compared to a more diversified portfolio. Investment in securities may be subject to risks including foreign exchange control and restrictions on capital transactions and payments under certain material adverse circumstances affecting. 3. Investors may suffer substantial loss of their investments in the Fund. ObjectivesInvestment ObjectivesInvestment Objectives1 The Fund invests in units of the Baring Trust, which is a unit trust primarily investing in securities of n companies or other entities or subsidiaries of n companies and securities listed or traded on the n securities markets. PerformanceCumulative 2 Cumulative Performance % YTD 1-Yr 3-Yr 5-Yr 3-Yr p.a. 5-Yr p.a. Class A USD Acc BenchmarkBenchmark Year PerformanceCalendar Year 2 Calendar Year Performance % Class A USD Acc BenchmarkBenchmark DetailsFund 3 Fund Details ManagerFund Fund Manager SizeFund Fund Size Date of Primary Inception Share ClassInception Date Date of of Share Class Primary Share Class CurrencyBase Base PriceNAV NAV Price Hyung Jin Lee US$75.1 Million USD of InvestmentsNumber of Number of Investments + 48 AvailableUnit Unit Class AvailableShare Class Share Class Available UmbrellaUmbrella InvestmentMinimum Minimum Investment US$ Accumulation Class A USD Acc Baring Feeder Fund US$5,000 ChargeInitial Initial Charge ++ Up to 5.00% FeeManagement Fee ++ DateEx. Dividend Ex. Dividend Date Paid ByDividend Paid Dividend Paid By IndexBenchmark Index 4 Performance Characteristics 0.10% p.a. N/A N/A SE Composite (Price) BenchmarkBenchmark Fund 4 Standard Deviation Alpha Beta Sharpe Ratio Tracking Error (Ex Post) Fund size and NAV price listed above relate to Class A USD Acc. + This relates to Baring Trust ++ Baring Fund Manager Limited will waive the full amount of any preliminary charge on the Baring Trust, however, the Management Fee of Baring Trust of 1.5% will then apply. PerformancePerformance 2 (Cash Value of US$1000) Baring Feeder Fund Class A USD Acc IndexBenchmark 4 Index AllocationGeographical 3 Geographical Allocation (%) Cash & Equivalents InvestmentsTop 3 Top Samsung Electronics Hotel Shilla SK Hynix Hyundai Heavy Industries Shinsegae Co., Ltd E-Mart Samsung Biologics LG Chemical KIWOOM Securities Co., Ltd S-Oil AllocationSector 3 Sector Allocation (%) Information Technology Materials Consumer Discretionary Consumer Staples Industrials Health Care Financials Energy Others Cash & Equivalents Sector Country Information Technology Consumer Discretionary Information Technology Industrials Consumer Discretionary Consumer Staples Health Care Materials Financials Energy %

2 Fund Code ISIN Bloomberg Class A USD Acc IE BRGKORI ID Lipper Cumulative Performance 2(%) YTD Yr Yr Yr Yr p.a Yr p.a Calendar Year Performance 2(%) Notes A full copy of the investment objective can be obtained from the Manager. Performance Source 2018 Morningstar, Inc. All Rights Reserved. Data as at , investment return in denominated currency of the respective share class on a NAV per unit basis, with gross income reinvested. US / HK dollar-based investors are therefore exposed to fluctuations in the exchange rate of the relevant currency against US / HK dollar. Please note that the use of a benchmark index is for comparative purposes only. The information contained herein: (i) is proprietary to Morningstar and / or its content providers; (ii) may not be copied or distributed; and (iii) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Unless otherwise stated, all fund portfolio figures within this factsheet are as at the end of the month shown at the top of front page. Country breakdown and sector breakdown relate to Baring Trust. Performance characteristics are based on US$ returns over a 3 year period. Source: Barings / Northern Trust. The fund performance includes dividend reinvestment and the benchmark is a price return index that does not include reinvestment of dividends. Overall Morningstar rating as of ( Equity Category). Rating is for Class A USD Acc only, other classes may have different performance characteristics. Important Information This document is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This document has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Investment involves risks. Past performance is not indicative of future performance. Please refer to the offering documents for the details of the Fund and all the risk factors. Investors should not only base on this document alone to make investment decisions. This document is issued by Baring Asset Management (Asia) Limited. It has not been reviewed by the Securities and Futures Commission of Hong Kong. Baring Asset Management (Asia) Limited 35/F Gloucester Tower 15 Queen's Road Central Hong Kong CONTACT US: Calls may be recorded and monitored

3 PRODUCT KEY FACTS Baring Feeder Fund July 2017 Baring International Fund Managers (Ireland) Limited This statement provides you with key information about Baring Feeder Fund (the Fund ). This statement is a part of the offering document. You should not invest in the Fund based on this statement alone. QUICK FACTS Fund Manager & AIFM Depositary Ongoing charges over a year # : Baring International Fund Managers (Ireland) Limited Northern Trust Fiduciary Services (Ireland) Limited Accumulation Unit Classes (Acc) Class A USD Acc: 2.22% # The ongoing charges figure is based on the ongoing expenses chargeable to the respective unit class for the 12-month period ended 8 February 2017 expressed as a percentage of the average net asset value of the respective unit class for the same period. This figure may vary from year to year. Dealing frequency Base currency Dividend policy Financial year end Daily USD No dividend will be paid. 8 August Min. investment: Initial min. Subsequent min. investment: investment: Accumulation Unit Classes (Acc) Class A USD Acc US$5,000 US$500 WHAT IS THIS PRODUCT? Baring Feeder Fund is an open-ended unit trust. It is domiciled in Ireland and its home regulator is the Central Bank of Ireland (previously known as Irish Financial Services Regulatory Authority). 1

4 OBJECTIVES AND INVESTMENT STRATEGY Objectives and strategy To achieve long-term growth in the value of assets by investing in units of the Baring Trust (the Trust ), a unit trust constituted in the United Kingdom and authorised by the Financial Conduct Authority. The investment objective of Baring Trust is to achieve capital growth by investing directly or indirectly in securities of n companies or other entities or subsidiaries of n companies and securities listed or traded on the n securities markets. The Managers of the Baring Trust are Baring Fund Managers Limited. The investment policy of Baring Trust is to invest not less than 70% of its assets in securities of n Companies and securities listed or traded in the n securities market. Investment is primarily in equity securities, but will not prevent exposure to other investments such as convertible bonds, fixed income stocks and mutual funds. HOW DOES IT WORK? The investment strategy of Baring Feeder Fund is illustrated in the diagram below: Baring Feeder Fund (Feeder Fund) (1) (2) Baring Trust (Master Fund) (1) Net proceeds investing in units of Baring Trust (2) Provides an exposure to the economic gain/loss in the performance of n securities, net of fees, charges and indirect costs (if applicable) WHAT ARE THE KEY RISKS? Investment involves risks. Please refer to the offering document for details including the risk factors. 1. Risk associated with investment in specific countries The Fund primarily invests in which has a narrower focus than those which invest broadly across different countries. It typically offers less diversification and is therefore considered to be more risky. 2. Concentration risk Due to the concentration of the investment portfolio of the Fund in n companies, events that have an effect on this region will have a greater effect on the Fund than in the case of a less concentrated investment. 3. Risk of investment in The Trust will invest substantially in. The risks inherent in n securities are of a nature and degree not typically encountered in investment in securities of listed companies on other major securities markets. Due to the outbreak of natural calamities, wars, conflict of arms or grave and sudden changes in domestic or foreign economic circumstances or other equivalent situations, the Ministry of Finance and Economy (MOFE) may temporarily suspend payment, receipt of transactions to which the relevant Foreign Exchange Transactions laws and regulations apply, or impose an obligation to safekeep, deposit or sell means of payment in or to certain n governmental agencies or financial institutions. 2

5 If the international balance of payments and international finance are likely to be confronted with serious difficulty or the movement of capital between and abroad is likely to bring about serious obstacles in carrying out n government s currency policies, exchange rate policies and other macroeconomic policies, the MOFE may require any person who intends to perform capital transactions to obtain permission or to deposit part of the payments received in such transactions at certain n governmental agencies or financial institutions, subject to certain limitations. 4. Risk relating to master/feeder fund structure The Fund s performance may not be equal to the performance of Baring Trust due to the master/feeder fund structure and additional costs that may have been incurred at feeder fund level. The Fund may be adversely affected by the suspension of dealing of the master fund, Baring Trust. Dealing of the Fund may be suspended and the payment of redemption proceeds may be delayed during the period when dealing of the Baring Trust is suspended. 5. Risks of investment in equities The equity markets may fluctuate significantly with prices rising or falling sharply, and this will have an indirect impact on the Fund s net asset value. When the equity markets are extremely volatile the Fund s net asset value may fluctuate substantially. 6. Investment risk The Fund is an investment fund and is not in the nature of a bank deposit. Investment in the Fund is subject to fluctuations in value and you may suffer a loss. HOW HAS THE FUND PERFORMED? Baring Feeder Fund - Class A USD Acc 80% 60% 40% 20% 0% 39.1% 59.9% 25.5% 16.1% 5.1% -20% -40% -12.1% -1.3% -10.4% -14.3% -60% -80% Source: Barings -60.3% Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. For the avoidance of doubt, dividend reinvested has the same meaning as gross income reinvested which is used in other marketing documents outside of Hong Kong. These figures show by how much the Class A USD Acc increased or decreased in value during the calendar year being shown. Performance data has been calculated in US dollars, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. 3

6 Class A USD Acc is selected as representative unit class as it is the major unit class subscribed by investors in Hong Kong. Fund launch date: 04 November 1992 Class A USD Acc launch date: 04 November 1992 IS THERE ANY GUARANTEE? Like most funds, the Fund does not have any guarantees. You may not get back the full amount of money you invest. WHAT ARE THE FEES AND CHARGES? Charges which may be payable by you You may have to pay the following fees when dealing in the units of the Fund. Fee Subscription fee (Preliminary charge) Switching fee Redemption fee (Realisation charge) What you pay Up to 5% of the Dealing Price Not applicable Nil* Ongoing fees payable by the Fund The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments. Management fee 0.1%** Annual rate (as a % of the Fund s net asset value ( NAV )), unless otherwise specified Trustee fee (Depositary fee) Performance fee Administration fee Transaction fee The Fund pays a transaction fee to the Depositary. Up to 0.025%, subject to a minimum of US$6,000 per annum Not applicable 0.275%, subject to a minimum of 12,000 per annum 50 per security transaction * At least 1 month s notice will be given to investors should any redemption fees be charged. ** The management fee may be increased up to maximum level as specified in the offering document by giving at least 3 month s prior notice to investors. Please refer to the offering document for further details. 4

7 Ongoing fees payable by Baring Trust (the Trust ) The following expenses will be paid out of the Trust. Management fee 1.5%* Annual rate (as a % of the Trust s NAV), unless otherwise specified Depositary fee The fee is calculated at the following rate: NAV below 150 million: %** NAV between 150 and 350 million: %** NAV over 350 million: %** Performance fee Administration fee Custody charges The Trust pays custody charges to the Depositary. Transaction charges The Trust pays transaction charges to the Depositary. Not applicable Not applicable % to 1.08%**, which vary from country to country depending on the markets 8.50 to 110 per transaction**, which vary from country to country depending on the type of transaction involved * The Management fee may be increased up to maximum level as specified in the Prospectus by giving at least 60 days prior notice to investors. Please refer to the Prospectus for further details. ** The fees and charges may be increased up to maximum level as specified in the Prospectus by giving at least 1 month s prior notice to investors. Please refer to the Prospectus for further details. Other fees You may have to pay other fees when dealing in the units of the Fund. The Fund will also bear the costs which are directly attributable to it, as set out in the offering document. 5

8 ADDITIONAL INFORMATION You generally subscribe and redeem units at the Fund s next-determined NAV per unit attributable to the relevant Unit Class after your request is received in good order by Baring Asset Management (Asia) Limited, our Hong Kong Representative, on or before 5 p.m. (Hong Kong time) or the Fund Manager on or before 12 noon Irish time on a Dealing Day. Dealing Days are every business day on which banks in both Ireland and the UK are open for business (excluding Saturday or Sunday). Before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing deadline (which may be earlier than the Fund s dealing deadline). The NAV of the Fund is calculated and the prices of unit of the relevant Unit Class are published for each Dealing Day, and are available online at 1. Investors may obtain the past performance information of other unit classes offered to Hong Kong investors from 1. IMPORTANT If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 1 This website has not been reviewed by the SFC and it may contain information on funds which are not authorised by the SFC. 6