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海通亚洲总收益债券H(968056) 基金公开信息 | |||||||||
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流水号 | 2700736 | ||||||||
基金代码 | 968056 | ||||||||
公告日期 | 2022-03-23 | ||||||||
编号 | 1 | ||||||||
标题 | 海通亚洲高收益债券基金2月月报 | ||||||||
信息全文 | Haitong Asian High Yield Bond Fund 海通亚洲高收益债券基金 Monthly Report, Data as of 28 Feb 2022 基金月报,资料截至2022年2月28日 This document is issued by Haitong International Asset Management (HK) Limited and has not been reviewed by the Securities and Futures Commission. Investors are advised to exercise caution in relation to the offer. 本文件由海通国际资产管理(香港)有限公司刊发,并未经证券及期货事务监察委员会审阅。投资者应就有关要约审慎行事。 22/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong General Enquiry: (852) 3588 7699 Website: www.htisec.com 香港中环德辅道中189号李宝椿大厦22楼 查询热线: (852) 3588 7699 网址: www.htisec.com Important Information 重要提示 Fund Information 基金资料 Investment Manager 投资经理 Haitong International Asset Management (HK) Limited 海通国际资产管理(香港)有限公司 Inception Date 成立日期 20.05.2016 Domicile 注册地 Hong Kong 香港 Base Currency 基础货币 USD 美元 Fund Size (millions) 总资产值(百万) USD 美元 217.73 Dividend Policy 派息政策 Semi-annual basis or Monthly basis2 每半年或每月2 Dealing Frequency 交易频率 Every business day3 每个工作天3 Minimum Initial Investment 最低首次投资额 Class A: USD 1,000 / RMB 1,000 / RMB (Hedged) 1,000 / HKD 1,000 Class D: USD 2,000 / RMB 10,000 / RMB (Hedged) 10,000 / HKD 10,000 Class I: USD 2,000,000 / RMB 2,000,000 / RMB (Hedged) 2,000,000 / HKD 2,000,000 Minimum Subsequent Subscription 其后最低投资额 Class A: USD 1,000 / RMB 1,000 / RMB (Hedged) 1,000 / HKD 1,000 Class D: USD 2,000 / RMB 10,000 / RMB (Hedged) 10,000 / HKD 10,000 Class I: USD 2,000,000 / RMB 2,000,000 / RMB (Hedged) 2,000,000 / HKD 2,000,000 Management Fee 管理费 Class A / D: 1.00% p.a. 每年1.00% Class I: 0.80% p.a. 每年0.80% Subscription Fee 申购费 5.00% (Maximum) 最高可达到认购金额的5.00% Performance Fee 表现费 Nil 无 Administrator & Trustee 行政管理人和托管人 HSBC Institutional Trust Services (Asia) Ltd Legal Adviser 法律顾问 Deacons Auditor 核数师 PricewaterhouseCoopers The Sub-Fund aims to achieve a high level of income and capital growth through investing primarily in a diversified portfolio of high yielding debt instruments traded or issued in Asia markets. 本基金透过投资于主要包含亚洲市场买卖或发行的高收益债务工具的多元化投资组合,寻求 获得高收益及资本增值。 Investment Objective 投资目标 ? Haitong Investment Fund Series - Haitong Asian High Yield Bond Fund (the “Sub-Fund”) is an investment fund and not a bank deposit. There is no guarantee of the repayment of principal. There is also no guarantee of dividend or distribution payments during the period you hold the units of Sub-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 Sub-Fund may suffer losses. ? The “Sub-Fund” is subject to risk to derivative risk, currency risk, currency hedged unit classes risk, emerging markets risk, risks associated with urban investment bonds, risks of investing in convertible bonds and risks relating to debt securities, like credit risk, credit rating risk, credit rating downgrading risk, below investment grade and unrated securities risk, sovereign debt risk, interest rate risk, valuation risk and volatility / liquidity risk. ? The Sub-Fund’s investments are concentrated in Asia debt securities (for instance, the Sub-Fund’s investments may be concentrated in debt securities issued by companies that are based in, or with the majority of their business in mainland China). The value of the SubFund may be more volatile than that of a fund having a more diverse portfolio of investments. ? RMB is currently not a freely convertible currency and is subject to exchange control policies and restrictions. Any divergence in the CNH / CNY exchange rate may adversely impact the value of the RMB classes and their investors. Investments in RMB classes by non RMB based investors are subject to foreign exchange risk, investors will incur currency conversion costs. ? The Manager has the discretion to determine if and to what extent distributions will be paid out of capital attributable to the relevant Distribution Class. Any such distributions may result in an immediate reduction of the Net Asset Value per unit. ? Investor should consider their own risk tolerance level and financial circumstances before making any investment decision. When investors are in doubt as to whether the Sub-Fund is suitable for themselves (including whether it is consistent with their investment objectives), investor should seek independent financial and / or professional advice and choose most suitable for themselves taking into account their circumstances. ? The past performance information presented is not indicative of future performance. Investments are subject to investment risks and the value of units may go down as well as up. The product(s) may not be suitable for all investors and investor may suffer loss or benefit from investment return. ? This document for distribution in Singapore is restricted to accredited investors and institutional investors within the meaning of Section 4A of the Securities and Futures Act (Cap.289). It is not to be distributed to the public or to other third parties and the use of the information provided by anyone other than the addressee is not authorised. ? This Factsheet is neither an offer nor solicitation to purchase / redeem units the Fund mentioned herein. Certain information contained in this Factsheet is obtained and prepared from sources which Haitong International Asset Management (HK) Limited (“HTIAMHK”) believes to be reliable. HTIAMHK and data providers make no guarantees, representations or warranties and accept no responsibility or liability as to its accuracy or completeness of those information provided by the third parties. SFC authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. ? Investors should not invest based on this Factsheet alone. The investor should read the offering documents (including Product Key Facts) of the Sub-Fund for further details including the risk factors before making an investment decision. ? 海通精选基金系列 - 海通亚洲高收益债券基金(「本基金」)是一项基金投资而不是银行 存款。本基金不会担保可收回本金。同时,本基金亦不就阁下于持有本基金单位期间的 股息及派发金额作出担保。本基金的投资组合可能会因下列任何主要风险因素而贬值, 故此,阁下于本基金的投资可能会因此蒙受损失。 ? 本基金可能涉及衍生工具风险、货币风险、货币对冲单位类别风险、新兴市场风险、城 投债券相关风险、投资可换股债券的风险及债务证券的相关风险,包括信贷风险、信贷 评级风险、信贷评级下调风险、未达投资级别及未获评级证券风险、主权债务风险、利 率风险、估值风险和波动性/流动性风险。 ? 本基金的投资集中于亚洲债务证券(例如,本基金的投资可能集中于驻于中国内地或在 中国内地开展大部分业务的公司发行的债务证券)。相比拥有更分散的投资组合的基金 ,本基金的价值可能更为波动。 ? 人民币现时不可自由兑换并受到外汇管制政策和限制所规限。CNH / CNY的任何汇率差价 或会对人民币类别的价值及其投资者造成不利影响。以非人民币为本币的投资者投资人 民币类别面临外汇风险,投资者将承受货币兑换成本。 ? 基金经理可酌情决定是否从相关分派类别应占的资本中支付分派以及分派比例。任何该 等分派均可能导致每单位资产净值即时减少。 ? 投资者作任何关于本基金的投资决定前,应考虑其可承受风险程度及财务状况。如投资 者在选择基金时对某基金是否适合其需要有任何疑问时(包括本基金的投资目标与投资 者本身的投资目标是否一致),投资者应寻求独立的财务及/或专业意见及根据自身状 况选择最合适的基金。 ? 本基金往绩资料并非预测日后业绩表现的指标。投资涉及风险,单位价值可升亦可跌。 投资者会因投资此产品而亏损或获利,而此产品亦未必适合所有投资者。 ? 根据新加坡《证券和期货法》(第289章)第4A条的规定,本发行文件在新加坡只供合 格投资者和机构投资者使用,不得将其分发给公众或其他第三方。未经授权,不得使用 收件人以外的任何人提供的信息。 ? 此基金报告不等同于认购/赎回本基金的邀约或建议。以下部分内容乃基于海通国际资 产管理(香港)有限公司信纳的可靠来源获得和准备。海通国际资产管理(香港)有限 公司及第三方不会就由第三方提供的资料完整性或准确性做出保证,陈述或担保。证监 会认可子基金不等于对该子基金作出推介或认许,亦不是对该子基金的商业利弊或表现 作出保证,更不代表该子基金适合所有投资者,或认许该子基金适合任何个别投资者或 任何类别的投资者。 ? 投资者不应单就此基金概览提供之资料而作出投资决定。投资者在作投资决定前应参阅 基金销售文件(包括产品资料概要)包括其风险因素。 Scan the QR code for fund documents 扫瞄二维码以获取基金文件 Fund Manager’s Report 基金经理报告 The Chinese offshore USD high yield bond market (“the market”) kept falling this month. Investors continued to worry about Chinese developers’ ongoing liquidity crunch, in the meantime, the conflict between Russia and Ukraine escalated quickly. The market recorded another largest monthly fall since last October. The effective yield continued to rise for the month, still remaining at double-digit level. ISM Manufacturing Purchasing Manager index (PMI) rose to 58.6 in February, higher than the consensus forecast of 58.0 and January’s 57.6, suggesting that the recovery of the US manufacturing sector remains robust. The non-farm payrolls grew by 678,000 in February, significantly improved compared to January’s 481,000 and the consensus forecast of 423,000. The previous two months’ data was revised up by 92,000, making the real payrolls for the month 347,000 more than the forecast. Average hourly earnings rose 5.1% from a year ago, lower than the forecast of 5.8% and the growth rate of 5.5% in January. Unemployment rate dropped from 4.0% to 3.8%, indicating that the recovery in the US labor market is still solid. Looking ahead to 2022, Asia’s credit fundamentals will be largely stable and improving. With the headwinds arising from global inflation risk, China’s slowdown, the rising geopolitical risks and the outbreaks caused by new variants, we are making some strategic adjustment through increasing our exposure in different countries/economies and sectors to balance risk and return amid volatility. We believe that the market would be impacted by the following factors. Firstly, the US Fed would raise interest rates and begin to reduce the size of its balance sheet soon amid heightened inflation risks. But it has already been priced in by the market. Secondly, several credit events hit the Chinese offshore USD high yield bond market, however, there have been signs of marginal policy relaxation since last November. China’s top leaders also pointed out that the first priority is to stabilize the economic growth in 2022, while also promoting a virtuous circle and healthy growth within the real estate industry. Lastly, global economy will continue to recover, even though new variants of Covid-19 have casted uncertainty over the rebound. Hence, there will be opportunities as well as risks in the new year and credit selection is the key for 2022. 2月,中资美元高收益债券市场持续疲软。市场对房企流动性危机的担忧持续,叠加俄乌局势的恶化, 中资美元高收益债券市场继续刷新去年10月以来的最大单月跌幅。本月,中资美元高收益债收益率继 续攀升,目前仍处于两位数的水平。 美国2月ISM制造业指数录得58.6,高于市场预期的58.0及上个月的57.6,数据显示美国制造业仍处于 稳健水平。2月非农业就业人口增加67.8万人,大幅高于前值的48.1万人及市场预期的42.3万人。前 两月修正后增加9.2万人,合计数字比预期多34.7万人。2月平均时薪同比增速为5.1%,略低于预期的 5.8%和上月的5.5%。本月失业率从4.0%下降至3.8%,劳动力市场复苏仍然强劲。 展望2022年,亚洲信用主体的基本面总体稳定并将有所改善。面对全球通胀风险、中国经济放缓、地 缘政治以及新变种病毒导致疫情再次爆发等风险,我们在投资策略上做出适当调整,增加对不同国家 /经济体及行业债券的配置,争取在波动的市场中实现风险收益的平衡。我们相信中资美元高收益市 场将继续受到以下因素的影响:1.利率层面,虽然美联储在高通胀的压力下加息及缩表都将按计划推 进,但其影响已陆续反映在市场价格上;2.虽然信用事件接连冲击中资美元债市场,行业政策已于 2021年11月开始出现边际放松。2022年,稳经济、稳增长以及促进房地产行业良性循环和健康发展 的大方向不变;3.尽管在变种病毒影响下疫情仍有不确定性,全球经济仍将加速复苏。2022年是机遇 与风险并存的一年,而信用主体的挑选将是重中之重。 This document is issued by Haitong International Asset Management (HK) Limited and has not been reviewed by the Securities and Futures Commission. Investors are advised to exercise caution in relation to the offer. 本文件由海通国际资产管理(香港)有限公司刊发,并未经证券及期货事务监察委员会审阅。投资者应就有关要约审慎行事。 22/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong General Enquiry: (852) 3588 7699 Website: www.htisec.com 香港中环德辅道中189号李宝椿大厦22楼 查询热线: (852) 3588 7699 网址: www.htisec.com Asset Allocation by Sector6 按行业分布的投资比例6 Industries 行业 % Real Estate 房地产 29.06 Lodging 酒店 10.38 Banks 银行 10.21 Oil & Gas 石油天然气 6.82 Mining 采矿业 5.32 Auto Manufacturers 汽车与汽车零部件 4.71 Diversified Financial Services 多元化金融服务 4.14 Iron / Steel 钢铁 3.72 Energy-Alternate Sources 替代能源 2.31 Pharmaceuticals 制药 1.59 Electric 电子 1.48 Airlines 航空业 1.34 Coal 煤炭业 1.15 Engineering & Construction 建筑工程业 0.93 Chemicals 化工 0.77 Oil & Gas Services 石油天然气服务 0.54 Gas 煤气工业 0.45 Building Materials 建筑服务 0.43 Investment Companies 投资公司 0.09 Cash & Others 现金及其他 14.55 Haitong Asian High Yield Bond Fund 海通亚洲高收益债券基金 Asset Allocation by Country / Region6 按国家 / 地区分布的投资比例6 Country/Region 国家/地区 % China 中国 41.54 India 印度 22.14 Indonesia 印尼 10.04 Hong Kong 香港 5.65 Macau 澳门 5.16 Singapore 新加坡 0.90 Cash & Others 现金及其他 14.55 Instrument 资产类别 % Bonds 债券 85.45 Cash & Others 现金及其他 14.55 Asset Allocation by Instrument6 按资产类别的投资比例6 Cumulative Performance1 累计总表现1 (%) Class 类别 1 Month 一个月 3 Months 三个月 6 Months 六个月 1 Year 一年 3 Years 三年 Since Inception 成立至今 Class I (USD) I类 (美元) -8.15 -17.33 -35.03 -36.41 -28.50 -22.76 Class A (USD) A类 (美元) -8.13 -17.27 -34.91 - - -35.78 Class A (HKD)5 A类 (港元) 5 -7.99 -17.15 -34.80 - - -35.71 Class A (RMB) A类 (人民币) -9.14 -18.21 -36.58 - - -38.14 Class A (RMB Hedged) A类 (人民币对冲) -7.95 -16.78 -34.24 - - -35.05 Class D (USD) D类 (美元) -8.17 -17.40 -35.11 -36.56 - -30.45 Class D (HKD) D类 (港元) -8.10 -17.48 -35.20 -36.54 - -31.68 Calendar Year Performance1 年度表现1 (%) Class 类别 2016 2016年 2017 2017年 2018 2018年 2019 2019年 2020 2020年 2021 2021年 2022 YTD 2022年初至今 Class I (USD) I类 (美元) 2.784 4.23 -3.33 11.84 6.02 -24.77 -16.38 Class A (USD) A类 (美元) - - - - - -23.25 -16.33 Class A (HKD)5 A类 (港元) 5 1.974 4.86 - - - -23.30 -16.18 Class A (RMB) A类 (人民币) - - - - - -25.27 -17.22 Class A (RMB Hedged) A类 (人民币对冲) - - - - - -22.59 -16.10 Class D (USD) D类 (美元) - - - 4.804 5.79 -24.94 -16.41 Class D (HKD) D类 (港元) - - - 3.594 5.10 -24.95 -16.38 Monthly Report, Data as of 28 Feb 2022 基金月报,资料截至2022年2月28日 Dividend Information 派息类别资讯 Class 类别 Dividend per Unit 每单位派息 Annualized distributions 年度化分派率(%) Ex-Dividend Date 除息日 Class I (USD) I类 (美元) 4.00 11.89 31.12.2021 Class D (USD) D类 (美元) 0.48 11.08 28.02.2022 Class D (HKD) D类 (港元) 4.80 11.33 28.02.2022 Annualized distributions=[(1+dividend per share/ex-dividend NAV)^distribution frequency]-1. Annualized distributions are for indicative purpose only, which may be higher or lower than the actual annual dividend distribution. Dividend rate of the fund does not represent the return of the fund, and past dividend rate does not represent future dividend rate. Distribution amount is not guaranteed. Please see www.htisec.comfor full details of dividend information of all applicable share classes. 年度化分派率 =[(1+每股股息/除息日资产净值)^每年派息次数]-1。年度化分派率仅供说明用途,其可能高于 或低过实际全年股息分派率。基金的股息率并不代表基金的回报,过去的股息率亦不代表将来的股息率。派息 金额并不获保证。请浏览www.htisec.com参阅所有相关股份类别的派息资料。 Bond Portfolio Characteristics 债券组合特点 Credit Rating Breakdown 信用评级分布 % BBB+ 0.77 BBB 2.80 BBB- 1.18 BB+ 12.04 BB 5.83 BB- 25.99 B+ 11.08 B 14.09 B- 5.67 CCC+ 0.06 CCC- 0.15 CC- 0.76 C 2.35 NR 2.66 Portfolio Characteristics 组合特点 Average Duration7 / Average Maturity7 平均存续期7/平均届满期7 2.39 Years / 2.82 Years Average Yield to Maturity7,8 平均到期收益率7,8 18.27% Class Information 基金类别资讯 Class 类别 NAV 单位资产净 值 ISIN Code ISIN代号 Bloomberg Ticker 彭博代号 Launch Date 发行日期 Class I (USD) I类 (美元) 57.90 HK0000292752 HTAHYIU HK 20.05.2016 Class A (USD) A类 (美元) 64.22 HK0000292729 HTAHYAU HK 08.03.2021 Class A (HKD) A类 (港元) 64.29 HK0000292745 HTAHYAH HK 28.06.2016* Class A (RMB) A类 (人民币) 61.86 HK0000292737 HTAHYAC HK 08.03.2021 Class A (RMB Hedged) A类 (人民币对冲) 64.95 HK0000677291 HAHYBAR HK 08.03.2021 Class D (USD) D类 (美元) 54.58 HK0000489978 HTAHYDU HK 01.04.2019 Class D (HKD) D类 (港元) 534.14 HK0000489994 HTAHYDH HK 11.04.2019 *Class A (HKD) has re-launch on 8 March 2021 with re-launch price HKD100. *A类 (港元) 于2021年3月8日以发售价HKD100重新发行。 This document is issued by Haitong International Asset Management (HK) Limited and has not been reviewed by the Securities and Futures Commission. Investors are advised to exercise caution in relation to the offer. 本文件由海通国际资产管理(香港)有限公司刊发,并未经证券及期货事务监察委员会审阅。投资者应就有关要约审慎行事。 22/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong General Enquiry: (852) 3588 7699 Website: www.htisec.com 香港中环德辅道中189号李宝椿大厦22楼 查询热线: (852) 3588 7699 网址: www.htisec.com Haitong Asian High Yield Bond Fund 海通亚洲高收益债券基金 Monthly Report, Data as of 28 Feb 2022 基金月报,资料截至2022年2月28日 All fees were deducted when calculate the Sub-Fund’s NAV and NAV per Unit. Performance is calculated on NAV to NAV basis, net of fees with dividends reinvested. The performance chart and data are compiled to include all dividends that have been distributed. Due to rounding, the total may not be equal to 100%. Source from Haitong International Asset Management (HK) Limited. 计算本基金资产净值和单位资产净值时,已扣除费用。基金表现以资产净值对资产净值计算,已扣除费用,将股息再作投资。有关基金表现图表及数据乃为包含所有 已分派的股息而编纂。由于进位数计算,总额可能并不相等于100%。资料来源:海通国际资产管理(香港)有限公司。 1Fund performance is sourced from Haitong International Asset Management (HK) Limited. The computation basis of the performance is based on NAV-to-NAV, in USD. 1基金表现以资产净值对资产净值计算(美元),所有资料均由海通国际资产管理(香港)有限公司提供。 2Currently on a semi-annual basis for Class A Units and Class I Units, monthly basis for Class D Units, subject to the Manager’s discretion. Dividends may be paid from income and/or out of capital or effectively out of capital of the Sub-Fund. 2根据基金经理酌情,现时每半年就A类单位及I类单位派息。每月就D类单位派息。分派可能从本基金资本中拨付或实际上从本基金资本中拨付。 3Means a day (other than a Saturday or Sunday) on which banks in Hong Kong are open for normal banking business, provided that where as a result of a number 8 typhoon signal, black rainstorm warning or other similar event, the period during which banks in Hong Kong are open on any day is reduced, such day shall not be a Business Day unless the Manager determines otherwise. 3指香港银行通常办公之日子(不包括星期六及星期日),惟假如基于悬挂八号台风警告讯号或发出黑色暴雨警告讯号或其他类似事件,香港银行于任何一日缩短办公 时间,则该日并非营业日,除非基金经理另行作出决定。 4 Performance is calculated from the inception date of each classes of the Fund. 4表现由各基金类别分类成立日开始计算。 5There is insufficient data available in 2018, 2019 and 2020 to provide a useful indication of past performance as all Class A (HKD) Units were redeemed in 2018 and the next subscription in Class A (HKD) Units was in March 2021. 5由于本基金 A类(港元)已于2018年赎回,因此没有 2018年、2019年及 2020年足够数据用作向投资者提供有用的过往表现指标。下一笔认购 A类(港元)于2021年3月。 6Due to rounding, the total may not be equal to 100%. Figures presented in % of NAV. Source from Haitong International Asset Management (HK) Limited. 6由于进位数计算,总额可能不相等于100%。数值以资产净值百分比表示。所有资料均由海通国际资产管理(香港)有限公司提供。 7 “Cash, Deposit and Others” is excluded in the calculation. 7 “现金、存款及其他”并不包括在计算之内。 8Average yield to maturity is the weighted average yield to maturity of the investment portfolio of the Sub-Fund and is not equivalent to the yield achieved by unitholders and any capital gain/loss of each Unit of the Sub-Fund is not included in the calculation. Hence, average yield to maturity does not represent the total return that may be achieved by unitholders. 8平均到期收益率是子基金的投资组合到期收益率的加权平均数,并非单位持有人可获的收益率,并且没有计算子基金每单位的资本溢利/亏损,故此平均到期收益率 不代表单位持有人可能取得的总回报。 Performance Chart1 基金表现图1 Disclaimer免责声明: The above performance chart shows the return patterns of certain classes of the Fund. The performance chart is for reference only and does not reflect the return patterns of the classes of the Fund other than those specified in the performance chart. 以上的表现图表显示了若干基金类别的回报模式。表现图表只供参考,并不反映图表以外的基金类别具有类似的回报模式。 Top 5 Holdings 五大投资项目 Holdings 项目 % BANK NEGARA INDONESIA 3 3/4 03/30/26 印尼国家银行 3 3/4 03/30/26 3.23 TATA MOTORS LTD 5 7/8 05/20/25 塔塔汽车有限公司 5 7/8 05/20/25 3.16 MELCO RESORTS FINANCE 4 7/8 06/06/25 Melco渡假村金融有限公司 4 7/8 06/06/25 3.07 RKPF OVERSEAS 2019 A LTD 6.7 09/30/24 RKPF海外2019(A)有限公司 6.7 09/30/24 3.01 BANK OF COMMUNICATIONS 3.8 PERP 交通银行 3.8 PERP 2.83 |
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基金信息类型 | 其他 | ||||||||
公告来源 | 证券日报 | ||||||||
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