| Value Partners Classic Fund |
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NAV per unit : ( as at 7 September 2010 )
A Unit - US$205.04
B Unit - US$95.24
C Unit - US$11.80
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| Investment objectives |
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Value Partners Classic Fund has a broad mandate to invest in the Asia-Pacific markets, with an
emphasis on Greater China equities. The fund aims to achieve long-term capital appreciation for unit
holders through strict bottom-up, value-driven stock selection. The Fund was
the first authorized fund○
launched by Value Partners and remains the company's flagship investment product. |
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| New additional class of Unit with daily subscription/redemption |
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With effective from 15 October 2009, Value Partners Classic Fund – "B" Unit will be closed for subscription. For existing unitholders of "B" Units who are making regular contribution amounts to the Fund under an insurance savings plan commencing before 15 October 2009, the Fund will continue to issue "B" Units for those previously agreed regular contributions.
Starting from 15 October 2009, new investors who wish to invest in Value Partners Classic Fund and existing unitholders who wish to further subscribe for units in the Fund may subscribe for units in a new class of units ("C" Units). In addition, "A" Units and "B" Units will be made redeemable on a daily basis for existing unitholders. For more details, please refer to the Explanatory Memorandum. |
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| Fund fact |
| Fund manager |
Value Partners Limited |
| Launch date |
A Units – 1 April 1993
B Units – 15 May 1996
C Units – 15 October 2009 |
| Minimum subscription |
A Units – Closed
B Units – Closed
C Units – US$10,000 |
| Subscription fee |
A Units – Closed
B Units – Closed
C Units – Up to 5% of the issue price |
| Management fee |
A Units – 0.75% per annum
B Units – 1.25% per annum
C Units – 1.25% per annum |
| Redemption fee |
Nil |
| Performance fee^ |
15% of profit (high-on-high
principle) |
| Dealing and valuation
frequency |
Daily (effective from 15 October 2009) |
| Fund size |
US$949.94million (as at 31 August 2010) |
| Bloomberg code |
A Units – VLPARAI KY
B Units – VLPARBI KY
C Units – VLPARCI KY |
| ISIN code |
A Units – KYG9316N1025
B Units – KYG931701018
C Units – KYG9316N1280 |
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| Performance update* (Up to 31 August 2010) |
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A Units |
B Units |
C Units |
| One month |
+0.2% |
+0.2% |
+0.2% |
| Year-to-date |
+6.2% |
+5.9% |
+5.6% |
| One-year |
+26.7% |
+26.0% |
0.0% |
| Three-year |
+12.0% |
+10.3% |
0.0% |
| Since launch |
+1,881.2%# |
+820.3%~ |
+13.7% |
| Annualized return |
+18.7% |
+16.7% |
0.0% |
| Annualized volatility |
22.3% |
23.5% |
0.0% |
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| Annual returns* |
|
A Units |
B Units |
C Units |
| 2010 (Year-to-date) |
+6.2%+ |
+5.9%+ |
+5.6%+ |
| 2009 |
+82.9% |
+82.0% |
N/A |
| 2008 |
-47.9% |
-48.1% |
N/A |
| 2007 |
+41.1% |
+40.4% |
N/A |
| 2006 |
+41.8% |
+41.2% |
N/A |
| 2005 |
+15.9% |
+15.6% |
N/A |
| 2004 |
+5.8% |
+5.6% |
N/A |
| 2003 |
+83.6% |
+83.1% |
N/A |
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Year-to-date return as at 31 August 2010. |
| # |
Since A Units launched on 1 April 1993. |
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Since B Units launched on 15 May 1996. |
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Since C Units launched on 15 October 2009. |
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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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