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Yinhua Credit Theme Jijihong Bond Fund*
(*The name of the fund is not indicative of the fund’s performance and return)
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Yinhua Credit Theme Jijihong Bond Fund *(*The name of the fund is not indicative of the fund’s performance and return) (the “Fund”) is a Mainland fund authorised for public offering in Hong Kong pursuant to Mainland-Hong Kong Mutual Recognition of Funds (“MRF”) arrangement.
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The Fund seeks to achieve stable income and overall investment return through investment primarily in credit bonds.
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Market practices in the Mainland and Hong Kong may be different. The MRF arrangement is subject to an overall quota restriction which may affect fund subscription if the quota is used up. There is no assurance that the Fund can meet the eligibility requirements on a continuous basis and the Fund’s authorisation status may be affected.
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The value of the Fund may be volatile as the Fund invests in Mainland market and may be subject to higher concentration risks. Investing in the Mainland market may also give rise to various risks including political, policy, tax, economic, foreign exchange, legal, regulatory and liquidity risks.
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RMB is currently not freely convertible and is subject to exchange controls and restrictions and the Fund is denominated and settled in RMB, subscription and redemption must be made in RMB. There is no guarantee that RMB will not depreciate.
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Investments in the Mainland debt securities are subject to high volatility and liquidity risks, counterparty risk, interest rate risk, downgrading risk, and credit rating agency risk. The Fund may substantially invest in urban investment bonds, assets-backed securities and subordinated bonds. Urban investment bonds are typically not guaranteed by local governments or the central government of the Mainland and the Fund may suffer substantial loss in case of defaults. Assets-backed securities may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met. Subordinated bonds will have a lower priority of claim than holders of unsubordinated debt securities of the same issuer. The Fund is therefore exposed to higher credit risks and insolvency risks of its counterparties than holders of unsubordinated bonds.
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The Fund may invest in convertible bonds issued in the Mainland. Factors affecting the value of convertible bonds include credit risk, risk of default, risk related to interest rate changes, liquidity risks, and prepayment risk, which can adversely affect the value of the Fund.
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Repurchase and reverse repurchase transactions entered into for the account of the Fund may involve counterparty risk. The Fund may suffer substantial loss if the counterparty defaults, due to delays and difficulties in recovering the outstanding amount and inadequate valuation of the collateral and market movements.
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The Fund may pay distribution out of capital or effectively out of capital. This may amount to a return or withdrawal of part of the investors’ original investment or from any capital gains attributable to that original investment. Investors should note that such distribution may result in an immediate reduction of the net asset value per unit.
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Certain tax concessions and exemptions are currently available to the Fund and/or its investors under the MRF regime. Any change of tax concessions and exemptions of Mainland laws and regulations may adversely affect the Fund and/or investors that may result in substantial loss.
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Massive redemptions of units could require the Manager to liquidate investments of the Fund more rapidly than otherwise desirable in order to raise the necessary cash to fund the redemptions. This could adversely affect the NAV per unit of both units being redeemed and of remaining units. In the worst case, the Fund may have to suspend or delay the redemption process.
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Investors should not make an investment decision based solely on this material.
Investors should read the HK covering document and the related prospectus carefully before making any investment decisions. If you are in any doubt about the contents of the HK covering document and the related prospectus or this website, you should seek independent professional advice.
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General
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Investment involves risks. Units or shares in funds mentioned on this website may only be bought and sold on the terms set out in the HK covering document and the related prospectus or Hong Kong offering document, as applicable. Investments in emerging markets and smaller companies may involve a higher degree of risk and are usually more sensitive to price movements. Past performance, projection, or forecast included in this website is not a guide to future returns and investors should be aware that the value of units or shares and the income from them may fall as well as rise and they may not get back the full amount invested. Exchange rates may also cause the value of the underlying overseas investments to go up or down. Potential investors should read the terms and conditions contained in the HK covering document and the related prospectus and in particular the investment policies and the risk factors before any investment decision is made. Investors should ensure they fully understand the risks associated with the relevant fund and should also consider their own investment objective and risk tolerance level.
The manager will, if relevant conditions for distribution as set out in the prospectus have been satisfied, make payment of distributions for the Fund. Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on the information contained above. You should read the HK covering document and the related prospectus (including the product key facts) of the Fund for further details including the risk factors. The Fund may pay distribution out of capital or effectively out of capital. This may amount to a return or withdrawal of part of the investors’ original investment or from any capital gains attributable to that original investment. Investors should note that such distribution may result in an immediate reduction of the net asset value per unit. Dividend only applies to distributing classes and is not guaranteed. Past dividend record is not indicative of future dividend likely to be achieved.
Content Update and Downloading Disclaimers
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