Important Information

  1. BOCHK All Weather China Income Fund (the“Sub-Fund”) is a Sub-Fund of BOCHK Wealth Creation Series.
  2. The Sub-Fund is to provide income and capital growth over the medium and longer term primarily through active asset allocation in a portfolio of fixed income securities and equity securities in Mainland China, Hong Kong and Macau markets.
  3. Investment involves risks. The Sub-Fund involves significant risks including but not limited to market risk, concentration risk, currency risk, equity investment/volatility risk, small-capitalisation/mid-capitalisation companies risk, risks relating to debt securities, risks of investing convertible bonds, RMB currency risk/risks relating to RMB denominated securities, “Dim Sum” bond market risks, Mainland China market risk, emerging markets risk, risks relating to dynamic asset allocation strategy, risks associated with distribution out of capital, risks relating to hedging and the hedged classes, etc. Past performance is not indicative of future performance. Investors may not get back the full amount of capital invested.
  4. The Manager may at its discretion pay distribution out of, or effectively out of, capital of the Sub-Fund. Investors should note that the payment of distributions out of, or effective out of, capital represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of, or effectively out of, capital of the Sub-Fund may result in an immediate reduction of the net asset value of the relevant classes of units.
  5. Investors should not solely rely on this website to make any investment decision. Please refer to the Explanatory Memorandum and the relevant appendix in detail (including the full text of risk factors stated therein) about the Sub-Fund. If you have any questions about the information of this website, please seek independent professional advice.

Investment Objectives

The investment objective of the Sub-Fund is to provide income and capital growth over the medium and longer term primarily through active asset allocation in a portfolio of fixed income securities and equity securities in the Mainland of China, Hong Kong and Macau markets.

Fund Information

Fund Manager BOCHK Asset Management Limited
Fund Size HKD 46.24 Million (As of 30 April 2024)
Launch Date 8 Sept 2017
Base Currency HKD
Dealing Frequency Daily
NAV calculation frequency Daily
Dividend Distribution* Aims to pay dividend on a monthly basis. Dividends are not guaranteed and may be paid out of capital Refer to Important Information 4.
Subscription Fee Up to 5.25%
Redemption Fee** Nil
Management Fee** 1.50% p.a.
Class Class A1
(HKD)
Class A2
(USD)
Class A8
(RMB-H)
 
 
Minimum Investment (Initial) HKD
10,000
USD
1,000
RMB
10,000
 
 
Minimum Investment (Additional) HKD
10,000
USD
1,000
RMB
10,000
 
 
Bloomberg ID BOCCIA1 HK BOCCIA2 HK BOCCIA8 HK  
 
ISIN HK0000345758 HK0000345766 HK0000345824  
 

* Please refer to the fund documents of the respective funds/ sub-funds for details.
** The fees and charges may also be increased up to maximum level as specified in the fund documents by giving at least one month's prior notice to investors. Please refer to the fund documents for further details.

Past Performance – Calendar Year

Download

Historical Fund Price
Dividend Payment Composition
Fund Documents:
Fund Factsheet (Available in English and Traditional Chinese)
Explanatory Memorandum and Appendix (Available in English and Traditional Chinese)
Product Key Facts (Available in English and Traditional Chinese)
2023 Annual Report (Available in English and Traditional Chinese)
2023 Interim Report (Available in English and Traditional Chinese)

Important Notice

Investment in funds/sub-funds may involve risks and may not be suitable for all investors. Past performance is not indicative of future results. Investors should read carefully the relevant fund documents for details including but not limited to the risk factors before making any investment decisions. Printed copies of the fund documents or other information of the funds/sub-funds are available from the distributors of the respective funds/sub-funds and BOCHK Asset Management Limited. The above information does not constitute any offer or recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to the investors’ needs.

Market risk

  • The Sub-Fund is an investment fund. The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses. There is no guarantee of the repayment of principal or dividend or distribution payments.

Concentration risk

  • The Sub-Fund focuses its investments in the Mainland of China, Hong Kong and Macau and its portfolio of investments may not be diversified compared to other broad-based funds. It may be subject to additional concentration risk. The value of the Sub-Fund may be more volatile than that of a fund having a more diversified portfolio of assets.
  • The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Mainland of China, Hong Kong and Macau markets.

Currency risk

  • Underlying investments of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund. Also, a Class may be designated in a currency other than the base currency of the Sub-Fund. The Net Asset Value of the Sub-Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.

Equity investment/volatility risk

  • Equity investment is subject to general market risks that the market value of the stocks may go down as well as up. Prices of equity securities may be volatile, due to various factors such as changes in investment sentiment, political and economic conditions, and issuer-specific factors. If the market value of equity securities in which the Sub-Fund invests in goes down, investors may suffer substantial losses.

Small-capitalisation/mid-capitalisation companies risk

  • The stock of small-capitalisation/mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general.

Risks relating to debt securities

  • Credit risk: Investment in debt securities is subject to the credit/default risk of the issuers of the debt securities that the Sub-Fund may invest in, which may be unable or unwilling to make timely payments on principal and/or interest.
  • Interest rate risk: Debt securities are sensitive to changes in interest rates and subject to interest rate risk. Generally, the prices of debt securities rise when interest rates fall, vice versa. Longer term debt securities are usually more sensitive to interest rate changes.
  • Volatility and liquidity risk concerning debt securities in the Mainland of China, Hong Kong and Macau: The debt securities in the Mainland of China, Hong Kong and Macau may be subject to higher volatility and lower liquidity compared to more developed markets. The price of securities traded in such markets may be subject to fluctuations. The bid and offer spreads of the price of such securities may be large and the Sub-Fund may incur significant trading costs.
  • Downgrading risk: Investment grade securities may be subject to the risk of being downgraded. In the event of downgrading, the risks of default may be higher and the value of the Sub-Fund may be adversely affected. The Manager may or may not be able to dispose of the debt instruments that are being downgraded.
  • Risks associated with debt securities rated below investment grade or unrated: he Sub-Fund may invest in debt securities rated below investment grade or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities.
  • Sovereign debt risk: The Sub-Fund’s investment in securities issued or guaranteed by government may be exposed to political, social and economic risks. In adverse situations the sovereign issuers may not be able to willing to repay the principal and/ or interest when due or may request the Sub-Fund to participate in restructuring such debts. The Sub-Fund may suffer significant losses when there is a default of sovereign debt issuers.
  • Valuation risk: Valuation of the Sub-Fund’s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the Net Asset Value calculation of the Sub-Fund.
  • Risk related to credit ratings: Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.

Risks of investing convertible bonds

  • Convertible bonds are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles will be exposed to equity movement and greater volatility than straight bond investments. Investments in convertible bonds are subject to the same interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments.

RMB currency risk/Risks relating to RMB denominated securities

  • Investors may invest in RMB-hedged Units of the Sub-Fund. Non-RMB based investors (e.g. Hong Kong investors) may have to convert Hong Kong dollar or other currency(ies) into RMB when investing in RMB-hedged Units and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to Hong Kong dollar or such other currency(ies). Investors will incur currency conversion costs and may suffer losses depending on the exchange rate movements of RMB relative to Hong Kong dollar or such other currencies and by changes in exchange rate controls.
  • Class denominated in RMB will generally be valued with reference to the offshore RMB (known as “CNH”) rather than the onshore RMB (known as “CNY”). While CNH and CNY represent the same currency, they are traded in different and separate markets which operate independently. As such, CNH does not necessarily have the same exchange rate and may not move in the same direction as CNY. Any divergence between CNH and CNY may adversely impact investors.
  • The Sub-Fund may have exposure to securities that are denominated in RMB. RMB is currently not a freely convertible currency and is subject to foreign exchange controls and repatriation restrictions imposed by the Chinese government. There is no guarantee that RMB will not depreciate. The Sub-Fund may suffer losses in case of depreciation of RMB. Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.

“Dim Sum” bond market risks

  • The “Dim Sum” bond (i.e. bonds issued outside of Mainland China but denominated in RMB) market is still a relatively small market which is more susceptible to volatility and illiquidity. The operation of the “Dim Sum” bond market as well as new issuances could be disrupted causing a fall in the Net Asset Value of the Sub-Fund should there be any promulgation of new rules which limit or restrict the ability of issuers to raise RMB by way of bond issuances and/or reversal or suspension of the liberalization of the offshore RMB (CNH) market by the relevant regulator(s).

China market/emerging markets risk

  • The Sub-Fund may be subject to the increased risks and special considerations of investing in the China market or emerging markets, which are not typically associated with investment in more developed markets, such as greater political and economic uncertainties, social, foreign exchange, liquidity and regulatory risks, legal and taxation risks, settlement risks, custody risk, the likelihood of a high degree of volatility, market suspension, restrictions on foreign investment and control on repatriation of capital.

Risks relating to dynamic asset allocation strategy

  • The dynamic asset allocation of the Sub-Fund may not achieve the desired results under all circumstances and market conditions.
  • The investments of the Sub-Fund may be periodically rebalanced and therefore the Sub-Fund may incur greater transaction costs than a Sub-Fund with static allocation strategy.

Risks associated with distribution out of capital

  • If payment of dividends is made out of capital or effectively out of capital, it represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Any distributions involving payment of dividends out of the Sub-Fund’s capital or effectively out of the Sub-Fund’s capital will result in an immediate reduction in the Net Asset Value of the relevant Class of Units.

Risks relating to hedging and the hedged classes

  • There can be no assurance that any currency hedging strategy employed by the Manager will fully and effectively eliminate the currency exposure of the Sub-Fund.
  • Hedging strategies may preclude investors from benefiting from an increase in the value of the Sub-Fund’s base currency.

By accepting the Terms and Conditions as set out on https://www.bochkam.com, you shall be deemed as users of this Site and acknowledge that you are responsible for ensuring that the legislation applicable to you in your jurisdiction permits you to consult this Site and you represent and warrant that you have the necessary means and skills to access this Site and use it in the intended manner only. The Terms and Conditions are subject to change without prior notice; and you should conduct your own verification of the information contained herein. Investment involves risk. Past performance is not indicative of future performance. Please refer to the respective fund documents for further information, including but not limited to the risk factors before investing. Printed copies of the fund documents or other information of the funds/sub-funds are available from the distributors of the respective funds/sub-funds and BOCHK Asset Management Limited. The above information does not constitute any offer or recommendation to implement or liquidate an investment or to carry out any other transaction. Investors should not solely rely on this Site to make any investment decision or any other decision. Any investment decision should be based on appropriate professional advice specific to the investors' needs. The advertisement contained herein has been issued by BOCHK Asset Management Limited and has not been reviewed by SFC.

This webpage has not been reviewed by SFC.