CSOP Shen Zhou RMB Fund

IMPORTANT INFORMATION about the CSOP Shen Zhou RMB Fund

CSOP Shen Zhou RMB Fund (the “Sub-Fund”) invests primarily in RMB denominated and settled debt instruments within Mainland China through the QFI status of the Manager.
The Sub-Fund is an investment fund. There is no guarantee of the repayment of principal. There is also no guarantee of regular distribution payments during the period you hold the units of the Sub-Fund. The instruments invested by the Sub-Fund may fall in value and therefore your investment in the Sub-Fund may suffer losses.
The Sub-Fund invests primarily in securities related to the Mainland China market and may be subject to additional concentration risk and is likely to be more volatile than a broad-based fund, such as a global or regional fund, or a fund which invests in more developed markets. The prices of securities traded in the Mainland China debt securities market may have higher volatility compared to more developed markets.
Investment in the Mainland China market is subject to emerging market risk in general including political, economic, legal, foreign exchange, regulatory and liquidity risks.
There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practice in respect of capital gains realised by QFIs on its investments in the Mainland China (which may have retrospective effect). After careful consideration of the Manager’s reassessment and having taken and considered independent professional tax advice and in accordance with such advice, the Manager decided that with effect from 17 November 2014, no withholding provision will be made on the gross unrealised and realised capital gains derived from the disposal of RMB denominated and settled debt securities issued or distributed within Mainland China.
The Manager will make a WIT provision of 10% for the account of the Sub-Fund on Mainland China sourced passive income (such as dividend income or interest income) arising from investments in Mainland China securities.
In light of another notice issued by the Ministry of Finance of the PRC mainland and State Taxation Administration of the PRC mainland (“STA”) under Caishui [2016] No. 36 announcing that the Value-Added Tax (“VAT”) transformation will be rolled out to cover all the remaining industries, including financial services, the Manager, after having carefully considered the assessment and having taken and considered independent professional tax advice, has determined to make a provision for VAT in an amount equal to the total of (i) for VAT, 6% of the bond coupon interest (except PRC mainland government bonds or local government bonds) received by the Sub-Fund; plus (ii) for the potential local surtaxes on VAT, 12% of the VAT amount stated in (i) with effect from 30 April 2018.
On 22 November 2018, the Ministry of Finance (the “MOF”) and the STA jointly issued a notice Caishui [2018] No.108 (the “Notice 108”) which announced that foreign investors are exempt from Mainland China Corporate Income Tax (“CIT”) and Mainland China Value-Added Tax (“VAT”) and local surtaxes in respect of non-government bond interest income received from 7 November 2018 to 6 November 2021 from Mainland China. In other words, the Manager, having consulted professional and independent tax adviser, will make no tax provision on bond coupon interest income derived from Mainland China during this period.
It is possible that the applicable tax laws may be changed, that the Mainland China tax authorities may hold a different view as to the enforcement of the Mainland China withholding tax and collection on capital gains. In such case the Sub-Fund will bear the actual tax liabilities as no tax provision has been made. This may have an adverse impact to the Sub-Fund’s Net Asset Value. In this case, existing and subsequent investors will be disadvantaged as they bear for a disproportionately higher amount of tax liabilities as compared to the liability at the time of investment in the Sub-Fund.
The Sub-Fund invests in securities through a QFI and repatriations by QFIs in respect of the Sub-Fund are currently not subject to repatriation restrictions or prior approval. However, there is no assurance that Mainland China rules and regulations will not change or that repatriation restrictions will not be imposed in the future.
The application of QFI rules may depend on the interpretation of the mainland Chinese authorities and may have retrospective effects. Any changes to the relevant rules may have an adverse impact on investors’ investment in the Sub-Fund.
In the event of any default of either a Mainland China broker or the RQFII Custodian in the execution or settlement of any transaction or in the transfer of any funds or securities in the Mainland China, the Sub-Fund may encounter delays in recovering its assets which may in turn impact the Net Asset Value of the Sub-Fund.
Renminbi is currently not freely convertible and is subject to exchange controls by the Chinese government. Investors may be adversely affected by movements of the exchange rates between Renminbi and other currencies. There is no guarantee that RMB will not depreciate. Any depreciation of the value of RMB could adversely affect the value of investors’ investments in the Sub-Fund.
Investors of non-RMB denominated units are subject to foreign exchange risks due to the foreign exchange movements between RMB and other currencies and the spread between the CNH rate (i.e. the exchange rate for the offshore RMB market in Hong Kong) and CNY rate (i.e. the exchange rate for the onshore RMB market in the Mainland China) and additional conversion costs. Currency conversion is also subject to the Sub-Fund's ability to convert the proceeds denominated in RMB into non-RMB currency which, in turn, might affect the Sub-Fund's ability to meet redemption requests from the Unitholders or delay the payment of redemption proceeds.
Credit risk: The Sub-Fund invests in RMB denominated debt securities which are typically unsecured debt obligations and are not supported by collateral. The Sub-Fund is therefore fully exposed to the credit/insolvency risk of its counterparties as an unsecured creditor.
Interest rates risk: Investment in the Sub-Fund is subject to interest rate risk. Generally, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise.
Risks relating to credit rating / downgrading risk: The rating criteria and methodology used by Chinese local rating agencies may be different from those adopted by most of the established international credit rating agencies. Therefore, such rating system may not provide an equivalent standard for comparison with securities rated by international credit rating agencies.
Rated securities may be subject to the risk of being downgraded and this may adversely affect the value of investments in such securities in the event of downgrading.
Valuation risk: Valuation of the Sub-Fund’s investments may involve uncertainties and judgmental determinations. If such valuations should prove to be incorrect, the Net Asset Value of the Sub-Fund may be adversely affected.
Risk associated with urban investment bonds: Urban investment bonds are issued by LGFVs. Although local governments may appear to be connected to urban investment bonds, such bonds are typically not guaranteed by local governments or the central government of the Mainland China. As such, local governments or the central government of the PRC mainland are not obliged to support any LGFVs in default. In the event that the LGFVs default on payment of principal or interest of the urban investment bonds, the Sub-Fund could suffer substantial loss and the Net Asset Value of the Sub-Fund could be adversely affected.
Risk associated with Dim Sum bond markets: “Dim Sum bonds” are bonds issued outside of Mainland China but denominated in RMB. The Dim Sum bond 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 liberalisation of the offshore RMB (CNH) market by the relevant regulator(s).
Liquidity risk: The RMB denominated debt securities market is at a developing stage and the trading volume may be lower than those of the more developed markets. In the absence of an active secondary market, the Sub-Fund may need to liquidate its investments at a substantial discount in order to satisfy redemption requests The Sub-Fund may incur significant trading and realisation costs and may suffer losses accordingly.
In the event of the failure of the counterparty with which collateral has been placed, the Sub-Fund may suffer loss as there may be delays in recovering collateral placed out or the cash originally received may be less than the collateral placed with the counterparty due to inaccurate pricing of the collateral or market movements.
Cash obtained in sale and repurchase transactions may be re-invested in securities subject to the restrictions applicable to the Sub-Fund. While it is the intention of the Manager to generate additional income for the Sub-Fund through reinvestment of cash, it is possible that the Sub- Fund may suffer loss of some or the entire re-invested amount.
In the event of the failure of the counterparty with which cash has been placed, the Sub-Fund may suffer loss as there may be delay in recovering cash placed out or difficulty in realising collateral or proceeds from the sale of the collateral may be less than the cash placed with the counterparty due to inaccurate pricing of the collateral or market movements.
The Sub-Fund may invest in derivatives for hedging purposes and in adverse situations its use of financial derivative instruments may become ineffective and/or cause the Sub-Fund to suffer significant loss.
The Manager, may at its discretion, pay dividends out of or effectively pay dividend out of capital, resulting in an increase in distributable income for the payment of dividends by the Sub-Fund. The payment of distributions out of capital or effectively out of capital amounts to a return or a withdrawal of part of the amount an investor originally invested or capital gains attributable to that amount, and may result in an immediate decrease in the net asset value of the relevant units.

Please note that the above listed investment risks are not exhaustive and investors should read the Explanatory Memorandum and Key Facts Statement in detail before making any investment decision.

Investment Strategy

Investing in China onshore bond market through RMB Qualified Foreign Investors (RQFII) Quota.
The Manager's investment strategy is to construct the duration of the investment portfolio based on expected changes in RMB interest rates. The Fund will adjust the allocation of investment in debt securities based on analysis, and seek to invest in undervalued debt securities.

Market Information

Date Last Change Change(%)
NAV(Class A RMB) 2021-09-23 9.9100 0.0000 0.00
NAV(Class I RMB) 2021-09-23 10.4700 0.0000 0.00

Key Facts

Inception date 22 February 2012
Base Currency RMB
Financial Year End 31 December
Dealing Frequency Daily
Manager CSOP Asset Management Limited
RQFII Custodian China Construction Bank Corporation
Trustee CCB (Asia) Trustee Company Limited
Share Classes Institutional investors All types of investors
Class I Class A
Minimum Subscription Amount RMB1,000,000 RMB500
USD200,000 USD100
HKD1,000,000 HKD500
Minimum Subsequent Subscription Amount RMB500,000 RMB500
USD100,000 USD100
HKD500,000 HKD500
Management Fee 1.00% p.a. 1.50% p.a.
Preliminary Charge Up to 3%
ISIN RMB: HK0000099181 RMB: HK0000099173
USD: HK0000186046 USD: HK0000186020
HKD: HK0000186053 HKD: HK0000186038
Bloomberg Code RMB: CSOPSZI HK RMB: CSOPSZA HK

Fund Performance

1 Month 6 Month 1 Year 3 Years Since Inception#
Class A RMB* 0.81% 1.53% -3.43% 4.38% 30.76%
Class I RMB* 0.87% 1.84% -2.99% 5.98% 37.25%

* NAV to NAV performance with dividends reinvested

** The Fund uses ChinaBond Composite Total Return Index for performance comparison only, not for benchmark; index return is since 22 February 2012

# Calculated since the inception date 22 Feb 2012

As of 31 Aug, 2021

Top 5 Holdings

Security Name % of NAV
STATE POWER INVESTMENT 3.42% 16JUN2024 6.67%
CHINA DEVELOPMENT BANK 2.98% 08JAN2024 6.65%
HAINAN DEVELOP HLD FRN 04DEC2021 6.65%
SHENZHEN METRO 3.62% 06NOV2023 6.63%
SH POWERLONG IND DEV 7.2% 20NOV2024 6.63%

As of 31 Aug, 2021

Portfolio Characteristics1

Portfolio Characteristics
Average Credit Rating AA+
Average Yield-to-Maturity 4.90%
Number of Bond Holdings 17
Average Duration 1.578805894179666

As of 31 Aug, 2021

Credit Rating 1

As of 31 Aug, 2021

Portfolio Allocation 1

As of 31 Aug, 2021

Sector Allocation 1

As of 31 Aug, 2021

1Source: CSOP.

Important information about Dividend out of capital / effectively out of capital

The Manager may, at its discretion, pay dividend out of capital. The Manager may also, at its discretion, pay dividend out of gross income while all or part of the fees and expenses of the sub-fund are charged to/paid out of the capital of the sub-fund, resulting in an increase in distributable income for the payment of dividends by the sub-fund and therefore, the sub-fund may effectively pay dividend out of capital.
Payments of dividends out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from capital gains attributed to that original investment. Any distributions involving payment of dividends out of the sub-fund’s capital or effectively out of capital may result in an immediate reduction in the Net Asset Value (“NAV”) per Unit.

Distribution History

Class:
Ex-Date Record Date Payable Date Dividend Paid Out of Net Distributable Income Dividend Paid Out of Capital Total Distribution
2018-10-08 2018-09-28 2018-10-16 - HKD 0.05 per unit HKD 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - HKD 0.05 per unit HKD 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 HKD 0.05 per unit HKD 0.017 per unit HKD 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 HKD 0.05 per unit - HKD 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 HKD 0.05 per unit - HKD 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 HKD 0.05 per unit - HKD 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 HKD 0.02 per unit - HKD 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 HKD 0.11 per unit - HKD 0.11 per unit
2016-10-11 2016-09-30 2016-10-18 HKD 0.12 per unit - HKD 0.12 per unit
2016-07-05 2016-07-04 2016-07-15 HKD 0.12 per unit - HKD 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 HKD 0.12 per unit - HKD 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-10-08 2015-09-30 2015-10-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-07-02 2015-06-30 2015-07-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-01-05 2014-12-31 2015-01-15 HKD 0.13 per unit - HKD 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 HKD 0.08 per unit - HKD 0.08 per unit
2021-07-09 2021-07-08 2021-07-15 RMB 0.05 per unit RMB 0.05 per unit
2021-04-01 2021-03-31 2021-04-15 RMB 0.05 per unit RMB 0.05 per unit
2021-01-04 2020-12-31 2021-01-15 RMB 0.05 per unit RMB 0.05 per unit
2020-10-09 2020-09-30 2020-10-15 RMB 0.05 per unit RMB 0.05 per unit
2020-07-02 2020-06-30 2020-07-15 RMB 0.05 per unit RMB 0.05 per unit
2020-04-01 2020-03-31 2020-04-15 RMB 0.05 per unit - RMB 0.05 per unit
2020-01-08 2019-12-31 2020-01-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-10-08 2019-09-30 2019-10-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-07-02 2019-06-28 2019-07-15 RMB 0.05 per unit RMB 0.05 per unit
2019-04-01 2019-03-29 2019-04-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-01-02 2018-12-28 2019-01-16 - RMB 0.05 per unit RMB 0.05 per unit
2018-10-08 2018-09-28 2018-10-16 - RMB 0.05 per unit RMB 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - RMB 0.05 per unit RMB 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 RMB 0.05 per unit RMB 0.017 per unit RMB 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 RMB 0.05 per unit - RMB 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 RMB 0.05 per unit - RMB 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 RMB 0.05 per unit - RMB 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 RMB 0.02 per unit - RMB 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 RMB 0.12 per unit - RMB 0.12 per unit
2016-10-11 2016-09-30 2016-10-18 RMB 0.13 per unit - RMB 0.13 per unit
2016-07-05 2016-07-04 2016-07-15 RMB 0.12 per unit - RMB 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 RMB 0.12 per unit - RMB 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 RMB 0.13 per unit - RMB 0.13 per unit
2015-10-08 2015-09-30 2015-10-15 RMB 0.13 per unit - RMB 0.13 per unit
2015-07-02 2015-06-30 2015-07-15 RMB 0.12 per unit - RMB 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 RMB 0.12 per unit - RMB 0.12 per unit
2015-01-05 2014-12-31 2015-01-15 RMB 0.13 per unit - RMB 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 RMB 0.08 per unit - RMB 0.08 per unit
2014-07-02 2014-06-30 2014-07-16 RMB 0.12 per unit - RMB 0.12 per unit
2014-04-01 2014-03-31 2014-04-16 RMB 0.05 per unit - RMB 0.05 per unit
2013-10-08 2013-09-30 2013-10-16 RMB 0.08 per unit - RMB 0.08 per unit
2013-07-02 2013-06-28 2013-07-16 RMB 0.13 per unit - RMB 0.13 per unit
2013-04-02 2013-03-28 2013-04-15 RMB 0.10 per unit - RMB 0.10 per unit
2013-01-04 2012-12-31 2013-01-14 RMB 0.06 per unit - RMB 0.06 per unit
2012-10-08 2012-09-28 2012-10-18 RMB 0.12 per unit - RMB 0.12 per unit
2012-07-03 2012-06-29 2012-07-23 RMB 0.12 per unit - RMB 0.12 per unit
2021-07-09 2021-07-08 2021-07-15 USD 0.05 per unit USD 0.05 per unit
2021-04-01 2021-03-31 2021-04-15 USD 0.05 per unit USD 0.05 per unit
2021-01-04 2020-12-31 2021-01-15 USD 0.05 per unit USD 0.05 per unit
2020-10-09 2020-09-30 2020-10-15 USD 0.05 per unit USD 0.05 per unit
2020-07-02 2020-06-30 2020-07-15 USD 0.05 per unit USD 0.05 per unit
2020-04-01 2020-03-31 2020-04-15 USD 0.05 per unit - USD 0.05 per unit
2020-01-08 2019-12-31 2020-01-15 USD 0.05 per unit - USD 0.05 per unit
2019-10-08 2019-09-30 2019-10-15 USD 0.05 per unit - USD 0.05 per unit
2019-07-02 2019-06-28 2019-07-15 USD 0.05 per unit USD 0.05 per unit
2019-04-01 2019-03-29 2019-04-15 USD 0.05 per unit - USD 0.05 per unit
2019-01-02 2018-12-28 2019-01-16 - USD 0.05 per unit USD 0.05 per unit
2018-10-08 2018-09-28 2018-10-16 - USD 0.05 per unit USD 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - USD 0.05 per unit USD 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 USD 0.05 per unit USD 0.017 per unit USD 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 USD 0.05 per unit - USD 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 USD 0.05 per unit - USD 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 USD 0.05 per unit - USD 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 USD 0.02 per unit - USD 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 USD 0.11 per unit - USD 0.11 per unit
2016-10-11 2016-09-30 2016-10-18 USD 0.12 per unit - USD 0.12 per unit
2016-07-05 2016-07-04 2016-07-15 USD 0.12 per unit - USD 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 USD 0.12 per unit - USD 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 USD 0.12 per unit - USD 0.12 per unit
2015-10-08 2015-09-30 2015-10-15 USD 0.12 per unit - USD 0.12 per unit
2015-07-02 2015-06-30 2015-07-15 USD 0.12 per unit - USD 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 USD 0.12per unit - USD 0.12per unit
2015-01-05 2014-12-31 2015-01-15 USD 0.13 per unit - USD 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 USD 0.08 per unit - USD 0.08 per unit
2014-07-02 2014-06-30 2014-07-16 USD 0.10 per unit - USD 0.10per unit
2021-07-09 2021-07-08 2021-07-15 HKD 0.05 per unit HKD 0.05 per unit
2021-04-01 2021-03-31 2021-04-15 HKD 0.05 per unit HKD 0.05 per unit
2021-01-04 2020-12-31 2021-01-15 HKD 0.05 per unit HKD 0.05 per unit
2020-10-09 2020-09-30 2020-10-15 HKD 0.05 per unit HKD 0.05 per unit
2020-07-02 2020-06-30 2020-07-15 HKD 0.05 per unit HKD 0.05 per unit
2020-04-01 2020-03-31 2020-04-15 HKD 0.05 per unit - HKD 0.05 per unit
2020-01-08 2019-12-31 2020-01-15 HKD 0.05 per unit - HKD 0.05 per unit
2019-10-08 2019-09-30 2019-10-15 HKD 0.05 per unit - HKD 0.05 per unit
2019-07-02 2019-06-28 2019-07-15 HKD 0.05 per unit HKD 0.05 per unit
2019-04-01 2019-03-29 2019-04-15 HKD 0.05 per unit - HKD 0.05 per unit
2019-01-02 2018-12-28 2019-01-16 - HKD 0.05 per unit HKD 0.05 per unit
2018-10-08 2018-09-28 2018-10-16 - HKD 0.05 per unit HKD 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - HKD 0.05 per unit HKD 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 HKD 0.05 per unit HKD 0.017 per unit HKD 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 HKD 0.05 per unit - HKD 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 HKD 0.05 per unit - HKD 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 HKD 0.05 per unit - HKD 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 HKD 0.02 per unit - HKD 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 HKD 0.11 per unit - HKD 0.11 per unit
2016-10-11 2016-09-30 2016-10-18 HKD 0.12 per unit - HKD 0.12 per unit
2016-07-05 2016-07-04 2016-07-15 HKD 0.12 per unit - HKD 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 HKD 0.12 per unit - HKD 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-10-08 2015-09-30 2015-10-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-07-02 2015-06-30 2015-07-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 HKD 0.12 per unit - HKD 0.12 per unit
2015-01-05 2014-12-31 2015-01-15 HKD 0.13 per unit - HKD 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 HKD 0.08 per unit - HKD 0.08 per unit
2014-07-02 2014-06-30 2014-07-16 HKD 0.10 per unit - HKD 0.10 per unit
2021-07-09 2021-07-08 2021-07-15 RMB 0.05 per unit RMB 0.05 per unit
2021-04-01 2021-03-31 2021-04-15 RMB 0.05 per unit RMB 0.05 per unit
2021-01-04 2020-12-31 2021-01-15 RMB 0.05 per unit RMB 0.05 per unit
2020-10-09 2020-09-30 2020-10-15 RMB 0.05 per unit RMB 0.05 per unit
2020-07-02 2020-06-30 2020-07-15 RMB 0.05 per unit RMB 0.05 per unit
2020-04-01 2020-03-31 2020-04-15 RMB 0.05 per unit - RMB 0.05 per unit
2020-01-08 2019-12-31 2020-01-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-10-08 2019-09-30 2019-10-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-07-02 2019-06-28 2019-07-15 RMB 0.05 per unit RMB 0.05 per unit
2019-04-01 2019-03-29 2019-04-15 RMB 0.05 per unit - RMB 0.05 per unit
2019-01-02 2018-12-28 2019-01-16 - RMB 0.05 per unit RMB 0.05 per unit
2018-10-08 2018-09-28 2018-10-16 - RMB 0.05 per unit RMB 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - RMB 0.05 per unit RMB 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 RMB 0.05 per unit RMB 0.017 per unit RMB 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 RMB 0.05 per unit - RMB 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 RMB 0.05 per unit - RMB 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 RMB 0.05 per unit - RMB 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 RMB 0.02 per unit - RMB 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 RMB 0.12per unit - RMB 0.12per unit
2016-10-11 2016-09-30 2016-10-18 RMB 0.13 per unit - RMB 0.13 per unit
2016-07-05 2016-07-04 2016-07-15 RMB 0.12 per unit - RMB 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 RMB 0.12 per unit - RMB 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 RMB 0.13 per unit - RMB 0.13 per unit
2015-10-08 2015-09-30 2015-10-15 RMB 0.13 per unit - RMB 0.13 per unit
2015-07-02 2015-06-30 2015-07-15 RMB 0.12 per unit - RMB 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 RMB 0.12 per unit - RMB 0.12 per unit
2015-01-05 2014-12-31 2015-01-15 RMB 0.13 per unit - RMB 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 RMB 0.08 per unit - RMB 0.08 per unit
2014-07-02 2014-06-30 2014-07-16 RMB 0.10 per unit - RMB 0.10 per unit
2014-04-01 2014-03-31 2014-04-16 RMB 0.05 per unit - RMB 0.05 per unit
2013-10-08 2013-09-30 2013-10-16 RMB 0.08 per unit - RMB 0.08 per unit
2013-07-02 2013-06-28 2013-07-16 RMB 0.13 per unit - RMB 0.13 per unit
2013-04-02 2013-03-28 2013-04-15 RMB 0.10 per unit - RMB 0.10 per unit
2013-01-04 2012-12-31 2013-01-14 RMB 0.06 per unit - RMB 0.06 per unit
2012-10-08 2012-09-28 2012-10-18 RMB 0.12 per unit - RMB 0.12 per unit
2012-07-03 2012-06-29 2012-07-23 RMB 0.12 per unit - RMB 0.12 per unit
2021-07-09 2021-07-08 2021-07-15 USD 0.05 per unit USD 0.05 per unit
2021-04-01 2021-03-31 2021-04-15 USD 0.05 per unit USD 0.05 per unit
2021-01-04 2020-12-31 2021-01-15 USD 0.05 per unit USD 0.05 per unit
2020-10-09 2020-09-30 2020-10-15 USD 0.05 per unit USD 0.05 per unit
2020-07-02 2020-06-30 2020-07-15 USD 0.05 per unit USD 0.05 per unit
2020-04-01 2020-03-31 2020-04-15 USD 0.05 per unit - USD 0.05 per unit
2020-01-08 2019-12-31 2020-01-15 USD 0.05 per unit - USD 0.05 per unit
2019-10-08 2019-09-30 2019-10-15 USD 0.05 per unit - USD 0.05 per unit
2019-07-02 2019-06-28 2019-07-15 USD 0.05 per unit USD 0.05 per unit
2019-04-01 2019-03-29 2019-04-15 USD 0.05 per unit - USD 0.05 per unit
2019-01-02 2018-12-28 2019-01-16 - USD 0.05 per unit USD 0.05 per unit
2018-10-08 2018-09-28 2018-10-16 - USD 0.05 per unit USD 0.05 per unit
2018-07-03 2018-06-29 2018-07-18 - USD 0.05 per unit USD 0.05 per unit
2018-04-03 2018-03-29 2018-04-18 USD 0.05 per unit USD 0.017 per unit USD 0.033 per unit
2018-01-02 2017-12-29 2018-01-17 USD 0.05 per unit - USD 0.05 per unit
2017-10-07 2017-09-29 2017-10-18 USD 0.05 per unit - USD 0.05 per unit
2017-07-03 2017-06-30 2017-07-14 USD 0.05 per unit - USD 0.05 per unit
2017-04-05 2017-03-31 2017-04-19 USD 0.02 per unit - USD 0.02 per unit
2017-01-13 2017-01-12 2017-01-18 USD 0.11 per unit - USD 0.11 per unit
2016-10-11 2016-09-30 2016-10-18 USD 0.12 per unit - USD 0.12 per unit
2016-07-05 2016-07-04 2016-07-15 USD 0.12 per unit - USD 0.12 per unit
2016-04-01 2016-03-31 2016-04-15 USD 0.12 per unit - USD 0.12 per unit
2016-01-08 2016-01-07 2016-01-15 USD 0.12 per unit - USD 0.12 per unit
2015-10-08 2015-09-30 2015-10-15 USD 0.12 per unit - USD 0.12 per unit
2015-07-02 2015-06-30 2015-07-15 USD 0.12 per unit - USD 0.12 per unit
2015-04-08 2015-03-31 2015-04-15 USD 0.12 per unit - USD 0.12 per unit
2015-01-05 2014-12-31 2015-01-15 USD 0.13 per unit - USD 0.13 per unit
2014-10-08 2014-09-30 2014-10-15 USD 0.08 per unit - USD 0.08 per unit

All dollar amounts are in RMB. All dates are in GMT+8 Time. Any exceptions are noted.

Distributors

Bank of China (Hong Kong) LimitedCSC Securities (HK) Limited
KGI Nominees (Hong Kong) LimitedSinopac Securities (Asia) Limited
First Securities (HK) LimitedNoah Holdings (Hong Kong) Limited
Shanghai Pudong Development Bank Co Ltd, Hong Kong BranchBank of China Limited Macau Branch
Wealth Management Cube Limited

Disclaimer

This website is owned and managed by CSOP Asset Management Limited (“CSOP”). CSOP reserves the right to change, modify, add or delete, any content and the terms & conditions of use of this website without notice. Users are advised to periodically review the contents of this website to be familiar with any modifications.

The performance figures contained on this website are for informational purposes only. Past performance is not indicative of future performance. Investment involves risks and the Sub-Fund's NAV per unit may rise as well as fall. Persons interested in investing in the Sub-Fund should read the relevant fund offering documents (including the full text of the risk factors stated therein) in detail before making any investment decision.

This website is prepared by CSOP and has not been reviewed by the Securities and Futures Commission.

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Privacy Statement

This is the website of CSOP Asset Management Limited ("CSOP"). We understand that our customers and website visitors are concerned about the privacy of information. We have established policies and procedures concerning the collection, use and security of your information that will help protect your privacy. This policy statement provides information on the obligations and policies of CSOP under the Personal Data (Privacy) Ordinance (the "Ordinance").

OUR CORPORATE POLICY

CSOP recognize the importance of personal data to our business and the importance of respecting the privacy rights of our clients. Therefore, we are committed to ensuring compliance with the requirements of the Ordinance. Each employee of CSOP must abide by our commitment to privacy in the handling of personal information. To further enhance confidentiality and security of all personal data, only authorized staff will be allowed to have access to the personal information collected. It is restricted to those persons who have a business need to access personal information in order to perform their job duties.

The purpose of this Statement is to establish the policies and practices of CSOP's commitment to protect the privacy of personal data and to inform you about our responsibilities and your rights under the Ordinance.

Types of Personal Data Held

There are two broad categories of personal data held by us. They are personal data relating to clients and employees of CSOP.

Personal data held by us regarding clients may include the following:-

Personal data relating to employment held by us may include the following:-

Main Purposes of keeping Personal Data

The purposes for which personal data relating to clients may be used are as follows:-

The purposes for which personal data relating to employees may be used are as follows:-

Transfer of Personal Data

Personal data held by CSOP relating to clients will be kept confidential but may be transferred to the following parties (whether within or outside the Hong Kong Special Administrative Region) for any of the purposes stated above:-

Accuracy of Personal Data

CSOP strive at all times to ensure accuracy of all personal data collected and processed by us. In order to assist us to deliver on this pledge, please inform us immediately in the event that your personal information has been changed or you discovered that your personal information held by us is incorrect.

Your Rights

It is not a statutory requirement for you to provide personal data to us. However, we will not be able to provide you with the services and products you may require unless you provide us with the necessary personal data or information.

You have a right (i) to be informed whether we hold any of your personal data; (ii) to be supplied with a copy of your personal data we hold; and (iii) to request correction of your personal data we hold. If you wish to access to and/or to correct any of your personal data held by us, please send your written request to the address set out below. We may, subject to the Ordinance, impose a reasonable fee for complying with a data access request.

If you do not wish your personal data to be used for direct marketing purposes, you may notify us in writing to the following address:-

Head of Legal & Compliance

CSOP Asset Management Limited,
2801-2802 Two Exchange Square
8 Connaught Place, Central
Hong Kong

Upon receipt of such notice, we shall, without charge to you, cease using your personal data for direct marketing purposes.

Disclaimer

CSOP Asset Management Limited ("CSOP") is a regulated institution in Hong Kong by the Securities and Futures Commission (“SFC”). This website contains information about CSOP and the services and products offered by CSOP. The information provided on the CSOP website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country that would subject CSOP or its affiliates to any registration requirement within such jurisdiction or country. Non-Hong Kong investors are responsible for observing all applicable laws and regulations of their relevant jurisdictions before proceeding to access the information contained herein. By proceeding, you are representing that you have understood and accepted the restrictions set out in this section.

The website is prepared by CSOP and has not been reviewed by the SFC. You are advised to exercise caution and if you are in any doubt about any of the contents of the website, you should obtain independent financial and professional advice. Private Investors are advised to consult with their financial advisors, banks, or other professional advisors. Nothing herein should be construed as investment advice nor as comment on the suitability of any investment or investment service. Prospective investors should take advice from their own professional advisors before making any investment decision.

The information contained in this website is provided for reference only and does not constitute any investment advice. Past performance is not an indicative of future performance. Investment involves risk and investors may not get back the amount originally invested. Please read the relevant offering document carefully, in particular fund features and the risks involved in investing in the fund.

Nothing on this website constitutes a solicitation, invitation, recommendation or offer to purchase a product offered by CSOP or any CSOP funds or as the basis for any investment decision.

This site may include forward-looking statements which are based on CSOP's current opinions, expectations and projections. CSOP undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

If you have accessed this site using a link from another site, CSOP do not accept any liability or responsibility for the accuracy of information contained within the sites of other providers who have links to any pages of this site.

CSOP do not accept responsibility for any interference or damage to your own computer system, the records stored therein or those of any other person, which arises in connection with your use of this website or any linked website. A Cookies is utilized on this website. It allows your browser to check whether you have read and agreed to these terms. The Cookies does not contain any personally identifiable information. Unfortunately, if your browser is set up to reject Cookies you will not be able to see the content of this website. All copyrights reserved and its contents including all information, graphics, code, text and design in this website are owned by CSOP and should not be reproduced or distributed without its permission. These terms are governed exclusively by the laws of Hong Kong and constitute the entire agreement between you and CSOP in relation to the use of this website.

The information is current as at the date of publication but is subject to change without notice.

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