China Convergence Fund
A sub-fund of Value Partners Intelligent Funds |
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| NAV per unit : US$121.39 ( as at 31 August 2010 ) |
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| Investment objectives |
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China Convergence Fund aims to provide unitholders with long-term capital appreciation by investing
primarily in A and B shares listed on the stock exchanges of Shanghai and Shenzhen as well as in H
shares listed in Hong Kong. The fund may also invest to a lesser extent in shares of China-related
companies listed in Hong Kong other than H shares, as well as China-related shares listed on other
recognized stock exchanges and in China-related fixed income securities. The fund's investment in A
shares is subject to a maximum exposure of 35% of non-cash assets. |
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| Fund fact |
| Fund manager |
Value Partners Limited |
| Launch date |
14 July 2000 |
| Minimum subscription |
US$10,000 |
| Subscription fee |
Up to 5% of the issue price |
| Management fee |
1.25% per annum |
| Performance fee^ |
15% of profit (high-on-high
principle) |
| Redemption fee |
First 12 months: 5%
Second 12 months: 3%
After 24 months: waived |
| Dealing and valuation
frequency |
Every 15th day and the last
business day of each calendar
month |
| Fund size |
US$220.88million (as at 31 August 2010) |
| Bloomberg code |
VAPAICB KY |
| ISIN code |
KYG9317Q1047 |
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| Performance update*
(Up to 31 August 2010) |
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The Fund |
| One month |
+1.6% |
| Year-to-date |
+6.5% |
| One-year |
+30.9% |
| Five-year |
+10.5% |
| Since launch |
+1,113.9% |
| Annualized return |
+27.8% |
| Annualized volatility |
28.0% |
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| Annual returns* |
| 2010 (Year-to-date) |
+6.5%+ |
| 2009 |
+87.1% |
| 2008 |
-45.2% |
| 2007 |
+56.6% |
| 2006 |
+86.9% |
| 2005 |
+3.9% |
| 2004 |
+0.8% |
| 2003 |
+92.1% |
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Year-to-date return as at 31 August 2010. |
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Performance fee will only be charged if the NAV at the end of the financial year exceeds the "high watermark", which is the
all-time year-end high of the fund's NAV. If in any one year, the fund suffers a loss, no performance fee can be charged in
subsequent years until the loss is recovered fully (the high-on-high principle). |
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| * |
Source: HSBC Institutional Trust Services (Asia) Limited and Bloomberg, in US dollar, NAV to NAV, with dividend reinvested.
Performance data is net of all fees. |
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| SFC authorization does not imply official recommendation. |
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| Please note that investment involves risks. The unit price of the Funds may go down as well as up and the past performance of
the Funds does not indicate future return. Investors should refer to the explanatory memorandum of the Funds for further
details and the risk factors in particular those involved in investing in emerging markets prior to the subscription of the units of
the Fund. |
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