GFI Unit Trust Series - GFI Select Greater China Growth Fund
GFI Unit Trust Series - GFI Select Greater China Growth Fund
Important Notes

1. GFI Select Greater China Growth Fund (“Sub-Fund”) is a sub-fund of GFI Unit Trust Series, which is a Hong Kong domiciled umbrella structure unit trust. It is governed by the laws of Hong Kong. The Sub-Fund seeks to achieve its investment objective by investing at least 70% of its NAV in equity securities of Greater China companies listed on exchanges in Mainland China, Hong Kong or the US. These equity securities include, but are not limited to, common stocks, preferred stocks, and American depositary receipts. The Sub-Fund may invest in financial derivative instruments to the extent permitted by the investment restrictions.

2. The Sub-Fund may be subject to: investment risk, equity market risk, risk associated with small-capitalization / mid-capitalization companies, concentration risk, emerging market risk, risks associated with exposure to RMB, risks associated with the Beijing stock exchange, the ChiNext market and/or the Star Board, risks associated with investment madethrough the QFI regime, risks associated with the Stock Connect, mainland China tax risk, currency and foreign exchange risk, risks associated with investment in financial derivative instruments, risks associated with distribution out of capital or effectively out of capital, risks associated with performance fee charged by the sub-fund.

3. Investment involves risks, fund value may go up as well as down, past performance information presented are not indicative of future performance. Investors may suffer substantial loss.

4. Investors should not make investment decisions based on this material alone; before making any investment decision, investors should carefully read the Explanatory Memorandum and the Product Key Facts Statement of the Sub-Fund for further details including the risk factors.

5. You should not invest in the Sub-Fund unless the intermediary who sells it to you has explained to you that the Sub-Fund is suitable for you having regard to your financial situation, investment experience and objectives.

Key Risks

Investment involves risks.  Please refer to the Explanatory Memorandum for details including the risk factors.

 

1.  Investment risk

   The Sub-Funds 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.

 

2.  Equity market risk

   The Sub-Funds investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.

 

3.  Risk associated with small-capitalisation / mid-capitalisation companies

   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.

 

4.  Concentration risk

   The Sub-Funds investments are concentrated in Greater China companies. The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments.

   The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting Greater China.

 

5.  Emerging market risk

   The Sub-Fund invests in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.

   Securities exchanges in Mainland China typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Sub-Fund.

 

6.  Risks associated with exposure to RMB

RMB currency and conversion risk

   RMB is currently not freely convertible and is subject to exchange controls and restrictions.

   Where the Sub-Fund invests in RMB denominated investments, the value of such investments may be affected favourably or unfavourably depending on the changes in exchange rate between RMB and the base currency of the Sub-Fund. There can be no assurance that RMB will not be subject to devaluation. Any devaluation of the RMB could adversely affect the value of investors investments in the Sub-Fund.

   Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors base currencies (e.g. HKD) will not depreciate.  Any depreciation of RMB could adversely affect the value of the investors investment in the Sub-Fund.

   Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. The CNH rate may be at a premium or discount to the exchange rate for CNY and there may be significant bid and offer spreads.  Any divergence between CNH and CNY may adversely impact the NAV of the Sub-Fund and thus the investors.

   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.

RMB class(es) related risk

   When calculating the value of the RMB denominated class(es), CNH will be used. The value of the RMB denominated class(es) thus calculated will be subject to fluctuation.

   Non-RMB based (e.g. Hong Kong) investors may have to convert HKD or other currencies into RMB when investing in the RMB denominated class(es). Subsequently, investors may also have to convert the RMB redemption proceeds (received when selling the units) and RMB distributions received (if any) back to HKD or other currencies. During these processes, investors will incur currency conversion costs and may suffer losses in the event that RMB depreciates against HKD or such other currencies upon receipt of the RMB redemption proceeds and/or RMB distributions (if any).

   For RMB denominated class(es), since the unit prices are denominated in RMB, but the Sub-Fund will not be fully invested in RMB-denominated underlying investments and its base currency is USD, so even if the prices of the non-RMB denominated underlying investments and/or value of the base currency rise or remain stable, investors may still incur losses if RMB appreciates against the currencies of the non-RMB denominated underlying investments and/or the base currency more than the increase in the value of the non-RMB denominated underlying investments and/or the base currency.

   Furthermore, under the scenario where RMB appreciates against the currencies of the non-RMB denominated underlying investments and/or the base currency of the Sub-Fund (i.e. USD), and the value of the non-RMB denominated underlying investments decreased, the value of investors investments in RMB denominated class(es) may suffer additional losses.

 

7.  Risks associated with the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board

Investments in the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board may result in significant losses for the Sub-Fund and its investors. Such investments are subject to the following risks:

Higher fluctuation on stock prices and liquidity risk

   Listed companies on the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board are usually innovative and growth enterprises of emerging nature with smaller operating scale. Listed companies on the Beijing Stock Exchange, the ChiNext Market and the STAR Board are subject to wider price fluctuation limits, and due to higher entry thresholds for investors may have limited liquidity, compared to other boards. Hence, companies listed on the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board are subject to higher fluctuation in stock prices and liquidity risks and have higher risks and turnover ratios than companies listed on the main boards of the SSE and the SZSE.

   Due to different trading rules, daily price movements shall be limited to 30% on the Beijing Stock Exchange and 20% on the ChiNext Market and the STAR Board. Therefore the securities traded on these markets may be subject to a higher volatility risk than securities of relevant sectors traded in the other China A-share markets.

Over-valuation risk

   Stocks listed on the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board may be overvalued and such exceptionally high valuation may not be sustainable. Stock price may be more susceptible to manipulation due to fewer circulating shares.

Differences in regulation applicable to the Beijing Stock Exchange, the ChiNext Market and the STAR Board 

   The rules and regulations regarding companies listed on the Beijing Stock Exchange, the ChiNext Market and the STAR Board are less stringent in terms of profitability and share capital than those in the main boards of the SSE and the SZSE.

Delisting risk

   It may be more common and faster for companies listed on the Beijing Stock Exchange, the ChiNext Market and/or the STAR Board to delist. This may have an adverse impact on the Sub-Fund if the companies that it invests in are delisted.

Risk associated with transfer of listing for stocks listed on Beijing Stock Exchange

   A company listed on the Beijing Stock Exchange in which the Sub-Fund invests may apply for transfer of listing to the ChiNext market of the SZSE or the STAR Board of the SSE, if permitted by the applicable laws and regulations, subject to meeting the listing requirements of the CSRC and the SSE or SZSE (as the case may be). The application for transfer of listing will be subject to the review and approval by SSE or SZSE (as the case may be). The application for transfer of listing, whether successful or not, may cause fluctuations in the price of the relevant stock, and hence the NAV of the Sub-Fund..

Concentration risk applicable to the Beijing Stock Exchange and the STAR Board

   The Beijing Stock Exchange and the STAR Board are newly established and may have a limited number of listed companies during the initial stage. Investments in the Beijing Stock Exchange and the STAR Board may be concentrated in a small number of stocks and subject the Sub-Fund to higher concentration risk..

 

8.  Risks associated with investment made through the QFI regime

   The Sub-Funds ability to make the relevant investments or to fully implement or pursue its investment objective and strategy is subject to the applicable laws, rules and regulations (including restrictions on investments and repatriation of principal and profits) in the PRC, which are subject to change and such change may have potential retrospective effect.

   The Sub-Fund may suffer substantial losses if the approval of the QFI status of the QFI Holder is being revoked/terminated or otherwise invalidated as the Sub-Fund may be prohibited from trading of relevant securities and repatriation of the Sub-Funds monies, or if any of the key operators or parties (including QFI custodian/broker) is bankrupt/in default and/or is disqualified from performing its obligations (including execution or settlement of any transaction or transfer of monies or securities).

 

9.  Risks associated with the Stock Connect

   The relevant rules and regulations on the Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the Sub-Funds ability to invest in China A-shares or access the PRC market through the programme will be adversely affected. In such event, the Sub-Funds ability to achieve its investment objective could be negatively affected.

 

10.  Mainland China Tax Risk

   There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practice in respect of the Sub-Funds investment in Mainland China. It should also be noted that there is a possibility of Mainland China tax rules being changed and taxes being applied retrospectively. Any increased tax liabilities on the Sub-Fund may adversely affect the Sub-Funds value.

   Based on professional and independent tax advice, the Manager will make provisions from the Sub-Funds assets for Mainland China withholding income tax (WIT) at a rate of 10% in respect of the interests paid by Mainland China tax resident enterprises (except for government bonds) where such Mainland China WIT has not been withheld at source. Also, based on professional and independent tax advice, the Manager will not make provision for (i) any Mainland China WIT and value-added tax (VAT) in respect of realised and unrealised capital gain derived from the trading of Mainland China securities; and (ii) any Mainland China VAT in respect of interest income derived from Mainland China securities.

   In case of any shortfall between the provisions and actual tax liabilities, which will be debited from the Sub-Funds assets, the Sub-Funds NAV will be adversely affected. The actual tax liabilities may be lower than the tax provision made. Depending on the timing of their subscriptions and/or redemptions, investors may be disadvantaged as a result of any shortfall of tax provision and will not have the right to claim any part of the overprovision (as the case may be).

 

11.  Currency and foreign exchange risk

   Underlying investments of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund. Also, a class of units may be designated in a currency other than the base currency of the Sub-Fund or the currency of its underlying investment. The NAV of the Sub-Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.

 

12.  Risks associated with investment in financial derivative instruments

   The Sub-Fund may use financial derivative instruments for investment and hedging purposes. The use of such derivatives exposes the Sub-Fund to additional risks, including counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the derivative by the Sub-Fund. Moreover, the use of financial derivative instruments for hedging may become ineffective, and the Sub-Fund may suffer substantial loss. Exposure to derivatives may lead to a high risk of significant loss by the Sub-Fund.

 

13.  Risks associated with distribution out of capital or effectively out of capital

   Payment of distributions out of capital or effectively out of capital amounts to a return or withdrawal of part of an investors original investment or from any capital gains attributable to that original investments.  Any such distributions may result in an immediate reduction of the NAV per unit.

 

14.  Risks associated with performance fee charged by the Sub-Fund

   Performance fees may encourage the Manager of the Sub-Fund to make riskier investments that would be the case in the absence of a performance-based incentive system.

   Given there is no equalisation arrangement for the calculation of the performance fee, a redeeming investor may still incur a performance fee in respect of his investments, even though he has suffered a loss of investment capital.

   In addition, performance fees may be paid on unrealised gains which may never be realised by the Sub-Fund.

 

 

 

Product Overview

 

  Past

  performance

   As the Sub-Fund is newly established, there is insufficient data to provide a useful indication of past performance to investors.
Net Asset Value
Date Class I Class A Class B
04/19/2024USD 0.863406
HKD 0.908663
04/18/2024USD 0.878677
HKD 0.924536
04/17/2024USD 0.870203
HKD 0.915426
04/16/2024USD 0.852903
HKD 0.897322
04/15/2024USD 0.870544
HKD 0.915548
04/12/2024USD 0.890091
HKD 0.936978
04/11/2024USD 0.894777
HKD 0.941861
04/10/2024USD 0.886462
HKD 0.932840
04/09/2024USD 0.896066
HKD 0.942302
04/08/2024USD 0.892502
HKD 0.938578
04/05/2024USD 0.901730
HKD 0.947835
04/03/2024USD 0.900672
HKD 0.946622
04/02/2024USD 0.920508
HKD 0.967416
03/28/2024USD 0.921523
HKD 0.967935
03/27/2024USD 0.907289
HKD 0.952566
03/26/2024USD 0.927459
HKD 0.973690
03/25/2024USD 0.941680
HKD 0.988338
03/22/2024USD 0.965242
HKD 1.012929
03/21/2024USD 0.966945
HKD 1.014666
03/20/2024USD 0.955829
HKD 1.003106
03/19/2024USD 0.947948
HKD 0.994782
03/18/2024USD 0.953553
HKD 1.000149
03/15/2024USD 0.945124
HKD 0.991560
03/14/2024USD 0.931820
HKD 0.977627
03/13/2024USD 0.925670
HKD 0.971202
03/12/2024USD 0.917976
HKD 0.963081
03/11/2024USD 0.898536
HKD 0.942417
03/08/2024USD 0.888349
HKD 0.931446
03/07/2024USD 0.880275
HKD 0.923002
03/06/2024USD 0.894125
HKD 0.937992
03/05/2024USD 0.887568
HKD 0.930921
03/04/2024USD 0.905146
HKD 0.949382
03/01/2024USD 0.888888
HKD 0.932556
02/29/2024USD 0.878105
HKD 0.921342
02/28/2024USD 0.855332
HKD 0.897260
02/27/2024USD 0.886359
HKD 0.929317
02/26/2024USD 0.879278
HKD 0.921845
02/23/2024USD 0.879294
HKD 0.921704
02/22/2024USD 0.864582
HKD 0.906015
02/21/2024USD 0.848841
HKD 0.889332
02/20/2024USD 0.847401
HKD 0.887776
02/19/2024USD 0.841212
HKD 0.881245
02/16/2024USD 0.828078
HKD 0.867399
02/15/2024USD 0.822506
HKD 0.861248
02/14/2024USD 0.822552
HKD 0.861113
02/09/2024USD 0.817880
HKD 0.856095
02/08/2024USD 0.815005
HKD 0.85323
02/07/2024USD 0.793679
HKD 0.830651
02/06/2024USD 0.781266
HKD 0.817993
02/05/2024USD 0.752660
HKD 0.787869
02/02/2024USD 0.781208
HKD 0.817519
02/01/2024USD 0.797967
HKD 0.834869
01/31/2024USD 0.790171
HKD 0.826464
01/30/2024USD 0.812614
HKD 0.849887
01/29/2024USD 0.829559
HKD 0.867081
01/26/2024USD 0.846161
HKD 0.884356
01/25/2024USD 0.854297
HKD 0.893230
01/24/2024USD 0.844461
HKD 0.882902
01/23/2024USD 0.825615
HKD 0.863559
01/22/2024USD 0.816395
HKD 0.853401
01/19/2024USD 0.837971
HKD 0.875866
01/18/2024USD 0.844791
HKD 0.883294
01/17/2024USD 0.843295
HKD 0.881683
01/16/2024USD 0.857832
HKD 0.897394
01/15/2024USD 0.864119
HKD 0.903638
01/12/2024USD 0.860222
HKD 0.899132
01/11/2024USD 0.865440
HKD 0.904261
01/10/2024USD 0.851066
HKD 0.889264
01/09/2024USD 0.854569
HKD 0.892528
01/08/2024USD 0.857388
HKD 0.894379
01/05/2024USD 0.859210
HKD 0.896696
01/04/2024USD 0.863736
HKD 0.900953
01/03/2024USD 0.859711
HKD 0.896565
01/02/2024USD 0.865602
HKD 0.903650
12/29/2023USD 0.876498
HKD 0.914334
12/28/2023USD 0.865185
HKD 0.902766
12/27/2023USD 0.852371
HKD 0.889072
12/22/2023USD 0.855081
HKD 0.891719
12/21/2023USD 0.872588
HKD 0.909645
12/20/2023USD 0.861992
HKD 0.898345
12/19/2023USD 0.871881
HKD 0.907612
12/18/2023USD 0.866951
HKD 0.902011
12/15/2023USD 0.872336
HKD 0.908389
12/14/2023USD 0.876889
HKD 0.913585
12/13/2023USD 0.875271
HKD 0.912279
12/12/2023USD 0.873680
HKD 0.910292
12/11/2023USD 0.870020
HKD 0.906010
12/08/2023USD 0.865167
HKD 0.901163
12/07/2023USD 0.868280
HKD 0.904710
12/06/2023USD 0.859482
HKD 0.895501
12/05/2023USD 0.858472
HKD 0.895308
12/04/2023USD 0.878770
HKD 0.916070
12/01/2023USD 0.888100
HKD 0.925428
11/30/2023USD 0.871589
HKD 0.907748
11/29/2023USD 0.877092
HKD 0.912721
11/28/2023USD 0.883004
HKD 0.917893
11/27/2023USD 0.872945
HKD 0.906755
11/24/2023USD 0.869279
HKD 0.902867
11/23/2023USD 0.879872
HKD 0.914678
11/22/2023USD 0.874278
HKD 0.908530
11/21/2023USD 0.888254
HKD 0.922936
11/20/2023USD 0.889738
HKD 0.924145
11/17/2023USD 0.877787
HKD 0.911873
11/16/2023USD 0.879745
HKD 0.914503
11/15/2023USD 0.878849
HKD 0.914091
11/14/2023USD 0.871738
HKD 0.906572
11/13/2023USD 0.865505
HKD 0.900320
11/10/2023USD 0.842429
HKD 0.876238
11/09/2023USD 0.851067
HKD 0.885240
11/08/2023USD 0.864506
HKD 0.899805
11/07/2023USD 0.851345
HKD 0.886543
11/06/2023USD 0.840253
HKD 0.875153
11/03/2023USD 0.818221
HKD 0.852390
11/02/2023USD 0.805607
HKD 0.839264
11/01/2023USD 0.813046
HKD 0.846831
10/31/2023USD 0.807680
HKD 0.841257
10/30/2023USD 0.820290
HKD 0.853938
10/27/2023USD 0.801308
HKD 0.834092
10/26/2023USD 0.796744
HKD 0.829290
10/25/2023USD 0.807028
HKD 0.840008
10/24/2023USD 0.804103
HKD 0.837107
10/20/2023USD 0.807698
HKD 0.840725
10/19/2023USD 0.819111
HKD 0.852555
10/18/2023USD 0.827955
HKD 0.862316
10/17/2023USD 0.848028
HKD 0.882552
10/16/2023USD 0.853386
HKD 0.887320
10/13/2023USD 0.862134
HKD 0.897113
10/12/2023USD 0.881086
HKD 0.916641
10/11/2023USD 0.882763
HKD 0.917907
10/10/2023USD 0.877285
HKD 0.912096
10/06/2023USD 0.891348
HKD 0.927974
10/05/2023USD 0.886706
HKD 0.923023
10/04/2023USD 0.885414
HKD 0.921412
10/03/2023USD 0.886380
HKD 0.922729
09/29/2023USD 0.891964
HKD 0.928199
09/28/2023USD 0.886313
HKD 0.922127
09/27/2023USD 0.877239
HKD 0.911638
09/26/2023USD 0.867266
HKD 0.901298
09/25/2023USD 0.861363
HKD 0.894560
09/22/2023USD 0.874707
HKD 0.908689
09/21/2023USD 0.852807
HKD 0.885961
09/20/2023USD 0.866595
HKD 0.900516
09/19/2023USD 0.875660
HKD 0.909533
09/18/2023USD 0.887153
HKD 0.921204
09/15/2023USD 0.882170
HKD 0.916891
09/14/2023USD 0.886302
HKD 0.921285
09/13/2023USD 0.902145
HKD 0.937408
09/12/2023USD 0.908459
HKD 0.944067
09/11/2023USD 0.913804
HKD 0.950164
09/07/2023USD 0.907371
HKD 0.944167
09/06/2023USD 0.922482
HKD 0.960215
09/05/2023USD 0.926223
HKD 0.963907
09/04/2023USD 0.937482
HKD 0.974734
08/31/2023USD 0.927593
HKD 0.965158
08/30/2023USD 0.925161
HKD 0.963258
08/29/2023USD 0.920058
HKD 0.957823
08/28/2023USD 0.888369
HKD 0.924716
08/25/2023USD 0.889663
HKD 0.925633
08/24/2023USD 0.923691
HKD 0.960834
08/23/2023USD 0.924007
HKD 0.960966
08/22/2023USD 0.941794
HKD 0.978879
08/21/2023USD 0.924312
HKD 0.960741
08/18/2023USD 0.909973
HKD 0.945101
08/17/2023USD 0.925990
HKD 0.961314
08/16/2023USD 0.915922
HKD 0.951038
08/15/2023USD 0.934535
HKD 0.969332
08/14/2023USD 0.947306
HKD 0.982069
08/11/2023USD 0.929331
HKD 0.962992
08/10/2023USD 0.952895
HKD 0.987591
08/09/2023USD 0.953019
HKD 0.987901
08/08/2023USD 0.966586
HKD 1.001055
08/07/2023USD 0.983827
HKD 1.017909
08/04/2023USD 0.978363
HKD 1.012670
08/03/2023USD 0.962024
HKD 0.995012
08/02/2023USD 0.961999
HKD 0.994391
08/01/2023USD 0.979267
HKD 1.011168
07/31/2023USD 0.984952
HKD 1.017625
07/28/2023USD 0.976752
HKD 1.008779
07/27/2023USD 0.966776
HKD 0.999204
07/26/2023USD 0.966943
HKD 0.999329
07/25/2023USD 0.990853
HKD 1.025193
07/24/2023USD 0.970052
HKD 1.003703
07/21/2023USD 0.967920
HKD 1.001986
07/20/2023USD 0.976993
HKD 1.010853
07/19/2023USD 0.982451
HKD 1.015900
07/18/2023USD 0.994306
HKD 1.028669
07/14/2023USD 1.017595
HKD 1.052743
07/13/2023USD 1.012049
HKD 1.047869
07/12/2023USD 0.983675
HKD 1.019009
07/11/2023USD 0.996655
HKD 1.032488
07/10/2023USD 0.988118
HKD 1.023757
07/07/2023USD 1.005174
HKD 1.041202
07/06/2023USD 1.012255
HKD 1.047751
07/05/2023USD 1.009112
HKD 1.044540
07/04/2023USD 1.015240
HKD 1.051989
07/03/2023USD 1.005991
HKD 1.042773
06/30/2023USD 1.018305
HKD 1.05614
06/29/2023USD 1.02278
HKD 1.061122
06/28/2023USD 1.017742
HKD 1.055244
06/27/2023USD 1.034006
HKD 1.07237
06/26/2023USD 1.022855
HKD 1.060395
06/23/2023USD 1.052856
HKD 1.091685
06/21/2023USD 1.06122
HKD 1.100274
06/20/2023USD 1.091116
HKD 1.1311
06/19/2023USD 1.095985
HKD 1.134902
06/16/2023USD 1.109182
HKD 1.149265
06/15/2023USD 1.087385
HKD 1.127024
06/14/2023USD 1.081198
HKD 1.1221
06/13/2023USD 1.055306
HKD 1.095566
06/12/2023USD 1.039542
HKD 1.079542
06/09/2023USD 1.035365
HKD 1.075974
06/08/2023USD 1.032568
HKD 1.072908
06/07/2023USD 1.037449
HKD 1.078748
06/06/2023USD 1.028001
HKD 1.069184
06/05/2023USD 1.035358
HKD 1.07625
06/02/2023USD 1.008696
HKD 1.048711
06/01/2023USD 1.009554
HKD 1.04863
05/31/2023USD 0.995116
HKD 1.03373
05/30/2023USD 0.997341
HKD 1.036775
05/29/2023USD 0.969388
HKD 1.006935
05/25/2023USD 0.94935
HKD 0.98679
05/24/2023USD 0.91514
HKD 0.950419
05/23/2023USD 0.916329
HKD 0.952630
05/22/2023USD 0.937404
HKD 0.973329
05/19/2023USD 0.944685
HKD 0.979231
05/18/2023USD 0.951965
HKD 0.988024
05/17/2023USD 0.928482
HKD 0.963965
05/16/2023USD 0.932954
HKD 0.969525
05/15/2023USD 0.972902
HKD 1.010966
05/12/2023USD 0.985916
HKD 1.024692
05/11/2023USD 1.002763
HKD 1.041553
05/10/2023USD 0.978992
HKD 1.016391
05/09/2023USD 0.968926
HKD 1.007136
05/08/2023USD 0.991054
HKD 1.031115
05/05/2023USD 0.993986
HKD 1.034272
05/04/2023USD 0.991937
HKD 1.032143
05/03/2023USD 0.982728
HKD 1.022969
05/02/2023USD 0.987348
HKD 1.027710
04/28/2023USD 0.987735
HKD 1.028487
04/27/2023USD 0.955007
HKD 0.994497
04/26/2023USD 0.959868
HKD 0.999490
04/25/2023USD 0.954874
HKD 0.994215
04/24/2023USD 0.970818
HKD 1.010667
04/21/2023USD 0.981171
HKD 1.020992
04/20/2023USD 1.006887
HKD 1.048096
04/19/2023USD 1.006887
HKD 1.048096
04/18/2023USD 1.012708
HKD 1.054251
04/17/2023USD 1.010015
HKD 1.051468
04/14/2023USD 1.002479
HKD 1.043909
04/13/2023USD 0.997925
HKD 1.039336
04/12/2023USD 0.998676
HKD 1.040207
04/11/2023USD 1.006754
HKD 1.048717
04/06/2023USD 0.980668
HKD 1.022003
04/04/2023USD 0.977368
HKD 1.018352
04/03/2023USD 0.986098
HKD 1.027451
03/31/2023USD 0.992487
HKD 1.034398
03/30/2023USD 0.991078
HKD 1.033017
03/29/2023USD 0.989244
HKD 1.031196
03/28/2023USD 0.987720
HKD 1.029696
03/27/2023USD 0.979945
HKD 1.021674
03/24/2023USD 0.989324
HKD 1.031250
03/23/2023USD 1.003019
HKD 1.045534
03/22/2023USD 0.998642
HKD 1.040815
03/21/2023USD 0.995041
HKD 1.036987
03/20/2023USD 0.987667
HKD 1.028746
03/17/2023USD 0.998176
HKD 1.041028
03/16/2023USD 0.986514
HKD 1.029029
03/15/2023USD 1.043770
HKD 1.090071
03/14/2023USD 1.004166
HKD 1.047453
03/13/2023USD 1.025499
HKD 1.069203
03/10/2023USD 1.013898
HKD 1.057713
03/09/2023USD 1.039840
HKD 1.085297
03/08/2023USD 1.055503
HKD 1.101735
03/07/2023USD 1.037089
HKD 1.082597
03/06/2023USD 1.075695
HKD 1.122896
03/03/2023USD 1.068007
HKD 1.115126
02/28/2023USD 1.043770
HKD 1.090071
02/27/2023USD 1.035571
HKD 1.080838
02/24/2023USD 1.035516
HKD 1.081752
02/23/2023USD 1.044583
HKD 1.091070
02/22/2023USD 1.054866
HKD 1.101820
02/21/2023USD 1.050042
HKD 1.096697
02/20/2023USD 1.056547
HKD 1.102029
02/17/2023USD 1.045702
HKD 1.092524
02/16/2023USD 1.064945
HKD 1.113336
02/15/2023USD 1.078036
HKD 1.126935
02/14/2023USD 1.069596
HKD 1.118463
02/13/2023USD 1.062376
HKD 1.111006
02/10/2023USD 1.047382
HKD 1.095588
02/09/2023USD 1.055581
HKD 1.104255
02/08/2023USD 1.050933
HKD 1.099482
02/07/2023USD 1.070029
HKD 1.119378
02/06/2023USD 1.049750
HKD 1.097913
02/03/2023USD 1.060039
HKD 1.108945
02/02/2023USD 1.058699
HKD 1.107374
02/01/2023USD 1.066759
HKD 1.115638
01/31/2023USD 1.053821
HKD 1.101938
01/30/2023USD 1.048237
HKD 1.095351
01/27/2023USD 1.060727
HKD 1.107698
01/26/2023USD 1.062034
HKD 1.108913
01/20/2023USD 1.050945
HKD 1.097562
01/19/2023USD 1.032132
HKD 1.078107
01/18/2023USD 1.029883
HKD 1.075025
01/17/2023USD 1.029490
HKD 1.073548
01/16/2023USD 1.034137
HKD 1.077579
01/13/2023USD 1.025349
HKD 1.068411
01/12/2023USD 1.032390
HKD 0.990229
01/11/2023USD 1.030545
HKD 1.074296
01/10/2023USD 1.034232
HKD 1.077576
01/09/2023USD 1.040785
HKD 1.083752
01/06/2023USD 1.027428
HKD 1.070336
01/05/2023USD 1.000443
HKD 1.043146
01/04/2023USD 0.985020
HKD 1.027493
01/03/2023USD 0.979750
HKD 1.021545
12/30/2022USD 0.954344
HKD 0.993698
12/29/2022USD 0.954263
HKD 0.992915
12/28/2022USD 0.970118
HKD 1.009254
12/23/2022USD 0.886706
HKD 0.923689
12/22/2022USD 0.897597
HKD 0.933797
12/21/2022USD 0.907198
HKD 0.944099
12/20/2022USD 0.919632
HKD 0.955832
12/19/2022USD 0.916852
HKD 0.952201
12/16/2022USD 0.939796
HKD 0.976337
12/15/2022USD 0.961320
HKD 0.997767
12/14/2022USD 0.963922
12/13/2022USD 0.973648
12/12/2022USD 0.991067
12/09/2022USD 0.988957
12/08/2022USD 0.987095
12/07/2022USD 0.989167
12/06/2022USD 0.997100
12/05/2022USD 0.983422
12/02/2022USD 0.979510
12/01/2022USD 0.968506
11/30/2022USD 0.953038
11/29/2022USD 0.939198
11/28/2022USD 0.933284
11/25/2022USD 0.947452
11/24/2022USD 0.979813
11/23/2022USD 0.982984
11/22/2022USD 0.978366
11/21/2022USD 0.992872
11/18/2022USD 0.982705
11/17/2022USD 0.966871
11/16/2022USD 0.963386
11/15/2022USD 0.983552
11/14/2022USD 0.958454
11/11/2022USD 0.967346
11/10/2022USD 0.951567
11/09/2022USD 0.969468
11/08/2022USD 0.969859
11/07/2022USD 0.990778
11/04/2022USD 0.998459
11/03/2022USD 0.951217
11/02/2022USD 0.907671
11/01/2022USD 0.870981
10/31/2022USD 0.840709
10/28/2022USD 0.837270
10/27/2022USD 0.873585
10/26/2022USD 0.870745
10/25/2022USD 0.852318
10/24/2022USD 0.846565
10/21/2022USD 0.864609
10/20/2022USD 0.860893
10/19/2022USD 0.874642
10/18/2022USD 0.893852
10/17/2022USD 0.892830
10/14/2022USD 0.883918
10/13/2022USD 0.876939
10/12/2022USD 0.871715
10/11/2022USD 0.856009
10/10/2022USD 0.853740
10/07/2022USD 0.886998
10/06/2022USD 0.894514
10/05/2022USD 0.903387
10/03/2022USD 0.896808
09/30/2022USD 0.893527
09/29/2022USD 0.920179
09/27/2022USD 0.942342
09/26/2022USD 0.930594
09/23/2022USD 0.921803
09/22/2022USD 0.953528
09/21/2022USD 0.959641
09/20/2022USD 0.966983
09/19/2022USD 0.961648
09/16/2022USD 0.972283
09/15/2022USD 0.988920
09/14/2022USD 1.041557
09/13/2022USD 1.061514
09/09/2022USD 1.068457
09/08/2022USD 1.084126
09/07/2022USD 1.096385
09/06/2022USD 1.076787
09/05/2022USD 1.054528
09/02/2022USD 1.057877
09/01/2022USD 1.041840
08/31/2022USD 1.067644
08/30/2022USD 1.125265
08/29/2022USD 1.159492
08/26/2022USD 1.164055
08/25/2022USD 1.167350
08/24/2022USD 1.170206
08/23/2022USD 1.210671
08/22/2022USD 1.170181
08/19/2022USD 1.144622
08/18/2022USD 1.207198
08/17/2022USD 1.204646
08/16/2022USD 1.213798
08/15/2022USD 1.215587
08/12/2022USD 1.206539
08/11/2022USD 1.227287
08/10/2022USD 1.209994
08/09/2022USD 1.189537
08/08/2022USD 1.178183
08/05/2022USD 1.163750
08/04/2022USD 1.145435
08/03/2022USD 1.135696
08/02/2022USD 1.121087
08/01/2022USD 1.153081
07/29/2022USD 1.144287
07/28/2022USD 1.148258
07/27/2022USD 1.138808
07/26/2022USD 1.129152
07/25/2022USD 1.115847
07/22/2022USD 1.123325
07/21/2022USD 1.117682
07/20/2022USD 1.130965
07/19/2022USD 1.136777
07/18/2022USD 1.125653
07/14/2022USD 1.128870
07/13/2022USD 1.117787
07/12/2022USD 1.101577
07/11/2022USD 1.133678
07/08/2022USD 1.168571
07/07/2022USD 1.180718
07/06/2022USD 1.165976
07/05/2022USD 1.176757
07/04/2022USD 1.197049
06/30/2022USD 1.18284
06/29/2022USD 1.173621
06/28/2022USD 1.240499
06/27/2022USD 1.228170
06/24/2022USD 1.196021
06/23/2022USD 1.181640
06/22/2022USD 1.164574
06/21/2022USD 1.162903
06/20/2022USD 1.16425
06/17/2022USD 1.177029
06/16/2022USD 1.18166
06/15/2022USD 1.078806
06/14/2022USD 1.020547
06/13/2022USD 1.002259
06/10/2022USD 0.997784
06/09/2022USD 0.998504
06/08/2022USD 0.998669
06/07/2022USD 0.998829
06/06/2022USD 0.998996
06/02/2022USD 0.999663
06/01/2022USD 0.999830
Key Facts

Manager:

GF International Investment Management Limited

Trustee:

BOCI-Prudential Trustee Limited

Custodian:

Bank of China (Hong Kong) Limited

QFI Custodian: 

Bank of China Limited 

Dealing frequency:

Daily, each day (other than a Saturday or Sunday) on which banks in Hong Kong are open for normal banking business

Base currency:

USD

Dividend policy:

Currently on a monthly basis for Class A (USD) Units, Class A (HKD) Units, Class A (RMB) Units, Class A (USD) PF Units, Class A (HKD) PF Units, Class A (RMB) PF Units, Class I (USD) Units, Class I (HKD) Units, Class I (RMB) Units, Class I (USD) PF Units, Class I (HKD) PF Units and Class I (RMB) PF Units, subject to the Managers discretion. 

Distributions may, at the Managers discretion, be paid out of the capital or effectively out of the capital of the Sub-Fund, which will result in an immediate reduction of net asset value (NAV) per unit.

Financial year end of the Sub-Fund:

31 December

Class

Class A (USD) Units, Class A (HKD) Units,

Class A (RMB) Units, Class A (USD) PF Units, Class A (HKD) PF Units and Class A (RMB) PF Units

 

Current

Maximum

Subscription Charge

(% of the total subscription amount)

 

Up to 5%

5%

Redemption Charge

(% of the total redemption amount)

Nil

2%

Management Fee

(% of the Net Asset Value of the relevant Class per annum)

1.5%

1.3%(PF Units)

3%

Performance Fee

(Applicable for PF Units only)

15% of the increase in the Net Asset Value per Unit of the relevant Class above the High Water Mark

N/A

 

 

 

INVESTING IN THE FUND AND REDEMPTION OF UNITS

Classes

Class A (USD) Units and PF Units

Class A (HKD) Units and PF Units

Class A (RMB) Units and PF Units

 

 

 

 

Minimum Initial Subscription Amount

USD1,000

HKD10,000

RMB10,000

 

 

 

 

Minimum Subsequent Subscription Amount

USD1,000

HKD1,000

RMB1,000

 

 

 

 

Minimum Redemption Amount

USD100

HKD1,000

RMB1,000

 

 

 

 

Minimum Holding Amount

USD100

HKD1,000

RMB1,000

 

 

 

 

Class

Class I (USD) Units, Class I (HKD) Units,

Class I (RMB) Units, Class I (USD) PF Units, Class I (HKD) PF Units and Class I (RMB) PF Units

 

Current

Maximum

Subscription Charge

(% of the total subscription amount)

Up to 3%

3%

Redemption Charge

(% of the total redemption amount)

Nil

Nil

Management Fee

(% of the Net Asset Value of the relevant Class per annum)

1.0%

0.8%(PF Units)

3.0%

Performance Fee

(Applicable for PF Units only)

15% of the increase in the Net Asset Value per Unit of the relevant Class above the High Water Mark

N/A

 

 

 

INVESTING IN THE FUND AND REDEMPTION OF UNITS

Classes

Class I (USD) Units and PF Units

Class I (HKD) Units and PF Units

Class I (RMB) Units and PF Units

 

 

 

 

Minimum Initial Subscription Amount

USD200,000

HKD1,000,000

RMB1,000,000

 

 

 

 

Minimum Subsequent Subscription Amount

USD20,000

HKD100,000

RMB100,000

 

 

 

 

Minimum Redemption Amount

USD20,000

HKD100,000

RMB100,000

 

 

 

 

Minimum Holding Amount

USD200,000

HKD1,000,000

RMB1,000,000

 

 

 

 

 

 

 

 

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