Important Information

  1. Income Partners Renminbi Investment Grade Bond Fund (the “Fund”) invests primarily in RMB-denominated fixed income securities issued outside the People’s Republic of China (“PRC”). The Fund is subject to the risks relating to fixed income securities such as credit risk, credit rating related risks, interest rates risk, liquidity and valuation risks. The investments held by the Fund may fall in value and therefore your investment in the Fund may suffer losses.
  2. This Fund is denominated in RMB, and RMB is currently not freely convertible and is subject to exchange controls and restrictions. There is no guarantee that RMB will not depreciate. If you convert Hong Kong Dollar or any other currency into RMB so as to invest in the Fund and subsequently convert the RMB redemption proceeds back into Hong Kong Dollar or any other currency, you may suffer a loss if RMB depreciates against Hong Kong Dollar or other currency.
  3. Investment in the China market is subject to emerging market risk including political, economic, legal, regulatory and liquidity risks.
  4. The Fund may hold a significant portion of its assets in RMB deposit because there is currently limited supply of RMB-denominated fixed income securities issued outside the PRC.
  5. The Fund may invest in financial derivative instruments for hedging purposes. There is no guarantee that the hedging techniques will be effective.
  6. The Fund’s manager may at its discretion pay distributions out of the capital of the Fund. Payment of distributions out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Any such distributions may result in an immediate reduction of the net asset value per unit of the Fund.
  7. Investment involves risk. Past performance is not a guarantee or a reliable indicator of future results and no guarantee is being made that similar returns will be achieved in the future.
  8. In making investment decisions, investors should not rely solely on the information in this report and should read the offering document of the Fund for further details including the risk factors. This document does not constitute an offering document.

Income Partners Renminbi Investment Grade Bond Fund

Key Features

Quick Facts

Fund Size (AUM)
RMB28 million as of end Jun 2019
Minimum Investment
Class 2A/ 2B/ 2C/ 2D: USD1,000 / RMB10,000 / HKD10,000 / HKD1,000
FEES & EXPENSES
Please refer to offering document for details
  • Income Partners Renminbi Investment Grade Bond Fund (the "Fund") provides investors a liquid choice to allocate to RMB assets with attractive yield.
  • The Fund aims to achieve the best risk-adjusted return over the medium to long term through active management.
  • The Fund predominately invests in RMB denominated, investment grade rated (or implied investment grade rated) debt instruments.
  • The Fund maintains a high level of diversity across industries, countries and issuers.
  • The Fund offers USD, RMB and HKD share classes with reinvestment or cash option for dividend payment. The Fund provides daily liquidity.
  • Actively managed on a day-to-day basis, supported by the manager’s propriety fundamental credit selection, technical analysis, macro research.
  • The manager has one of the longest track record in the offshore RMB bond market.
Summary Terms
Fund Inception Date Class 2A/2B: 15 December 2010
Class 2C: 1 August 2016
Class 2D: 29 September 2016
Fund AUM RMB28 million as of end Jun 2019
Share Class Class 2 (USD, RMB, HKD, Distribution)
Minimum Investment Class 2A USD 1,000
Class 2B RMB 10,000
Class 2C HKD 10,000
Class 2D HKD 1,000
Dealing Frequency Daily
Dividend Frequency Monthly^
Investment Manager Income Partners Asset Management (HK) Ltd
Trustee Cititrust Limited
Custodian & Administrator Citibank, N.A., Hong Kong Branch
Transfer Agent Citicorp Financial Services Limited
Auditor PricewaterhouseCoopers
Legal Advisors Akin Gump Strauss Hauer & Feld
ISIN Class 2A Dis (USD) HK0000421120
Class 2B Dis (RMB) HK0000421138
Class 2C Dis (HKD) HK0000421146
Class 2D Dis (HKD) HK0000421153
Domicile Hong Kong
Monthly Reports
Jun 2019 DL
Jun 2019 (For ORSO schemes only) DL
May 2019 DL
May 2019 (For ORSO schemes only) DL
Apr 2019 DL
Apr 2019 (For ORSO schemes only) DL
Fund Documents
Product Key Facts Statement DL
Explanatory Memorandum DL
Notice to Unitholders - 27 May 2019 DL
Notice to Unitholders - 30 Apr 2019 DL
Notice to Unitholders - 16 Nov 2018 DL
Notice to Unitholders - 31 Aug 2018 DL
Notice to Unitholders - 27 Apr 2018 DL
Notice to Unitholders - 30 Nov 2017 DL
Annual Report 2018 DL
Interim Report 2018 DL
Annual Report 2017 DL
The Fund changed its name from Income Partners Renminbi Investment Grade Fund to Income Partners Renminbi Investment Grade Bond Fund on 9 April 2015. The description of its investment policy has been enhanced and clarified since then.

This class of Units is only available to certain ORSO schemes, pension funds and certain investors who meet eligibility criteria as decided by the Manager.
^ These classes aim to provide monthly dividend, the rate of dividend is however not guaranteed and may be paid out of the Fund’s capital. (Please refer to Important Information 6)

Monthly reports and offering documents of the Fund can be downloaded at www.fundinfo.com

This webpage is issued by Income Partners Asset Management (HK) Ltd. and has not been reviewed by Hong Kong Securities and Futures Commission. This webpage only provides a summary and may be incomplete or incomprehensive. Accordingly, the information is qualified in its entirety by the terms applicable to the Fund as set out in its constitutive and offering documents (“Fund Documents”), and should be read together with such Fund Documents. This page is for informational purpose only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. The representative of the Fund in Switzerland is Hugo Fund Services SA, 6 Cours de Rive, 1204 Geneva. The distribution of units/shares in Switzerland must exclusively be made to qualified investors. The place of performance and jurisdiction for units/shares in the Fund distributed in Switzerland are at the registered office of the Representative.
Fund Net Asset Value
Value DateShare ClassISIN CodeCCYNAV
28 Jun 20192A DisHK0000421120USD88.24
28 Jun 20192B DisHK0000421138RMB93.53
28 Jun 20192D DisHK0000421153HKD99.10
Monthly Performance: Class 2A Distribution USD(%)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2019 3.43 0.91 -0.08 -0.87 -4.94 1.69 -0.05
2018 3.72 -0.32 0.73 -0.13 -1.15 -3.17 -2.53 0.18 -0.33 -1.44 0.77 1.65 -2.18
2017 1.40 0.55 -0.22 0.10 2.03 0.30 1.54 2.32 -0.60 0.24 0.06 1.61 9.68
2016 -1.27 1.13 2.60 0.06 -0.94 -0.65 0.43 0.02 0.16 -1.42 -1.93 -1.08 -3.65
2015 -0.97 -0.33 0.70 1.12 0.93 0.28 -0.21 -4.53 1.91 1.33 -1.62 -1.99 -3.49
2014 0.38 -1.15 -1.41 -0.43 -0.17 1.06 0.82 1.04 -0.52 1.08 -0.52 -1.06 -0.58
2013 1.14 0.18 0.53 1.39 0.43 -1.29 0.92 0.35 0.25 1.26 0.13 0.75 6.18
2012 0.20 0.59 -0.05 0.09 -0.78 0.10 -0.27 0.38 0.68 1.51 0.51 0.13 3.12
2011 0.56 0.28 0.37 1.00 0.13 -0.19 0.40 1.02 -1.95 0.16 0.29 1.04 3.11
2010^ 0.42 0.42
MONTHLY performance class 2B distribution RMB(%)^
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2019 1.09 0.43 0.46 -0.64 -2.06 0.70 -0.05
2018 0.22 0.12 0.01 0.57 0.19 0.24 0.55 0.35 0.05 -0.05 0.28 0.66 3.24
2017 -0.14 0.39 0.17 0.37 0.05 0.52 0.84 0.35 0.05 0.04 -0.13 -0.02 2.53
2016 -0.74 0.38 1.21 0.38 0.57 0.51 0.35 0.50 -0.08 0.19 -0.25 -0.81 2.21
2015 -0.08 -0.21 -0.61 1.12 0.92 0.31 0.04 -1.09 0.54 0.83 0.02 0.10 1.88
2014 0.07 0.15 0.17 0.26 -0.03 0.45 0.30 0.59 -0.07 0.16 0.12 -0.02 2.18
2013 0.90 0.33 0.27 0.69 0.23 -1.57 0.89 0.08 0.27 0.72 0.20 0.19 3.23
2012 -0.29 0.64 0.24 -0.04 0.01 0.22 0.12 -0.13 -0.11 0.46 0.22 0.23 1.59
2011 -0.12 0.17 0.18 0.00 0.20 -0.63 -0.11 -0.23 -0.55 -0.56 0.14 -0.04 -1.54
2010 -0.09 -0.09
Cumulative Performance (%)
As of 28 Jun 2019 YTD 1 Month 3 Months 6 Months 1 Year 3 Years# 5 Years# Since Inception#
Class 2A Dis (USD) -0.05 1.69 -4.17 -0.05 -1.80 0.80 0.11 1.38
Class 2B Dis (RMB)^ -0.05 0.70 -2.00 -0.05 1.79 1.86 2.17 1.76
Calendar Year Performance (%)
2010* 2011 2012 2013 2014 2015 2016 2017 2018 Inception Date
2A Dis (USD) 0.42 3.11 3.12 6.18 -0.58 -3.49 -3.65 9.68 -2.18 15 Dec 2010
2B Dis (RMB)^ -0.09 -1.54 1.59 3.23 2.18 1.88 2.21 2.53 3.24 15 Dec 2010
Dividend Distribution**
Dividend Class Dividend Rate
per Unit
Record Date Ex-Dividend Date Dividend Payment
Date
Dividend Reinvestment
Date
Historical
Dividend
payment
2A (USD) $0.18 31 May 2019 3 Jun 2019 5 Jun 2019 5 Jun 2019 DL
2B (RMB) ¥0.20 31 May 2019 3 Jun 2019 5 Jun 2019 5 Jun 2019 DL
2D (HKD) $0.21 31 May 2019 3 Jun 2019 5 Jun 2019 5 Jun 2019 DL
Source: Income Partners Asset Management (HK) Ltd

The Fund changed its name from Income Partners Renminbi Investment Grade Fund to Income Partners Renminbi Investment Grade Bond Fund on 9 April 2015. The description of its investment policy has been enhanced and clarified since then.
For Distribution classes, fund performance is calculated on NAV to NAV basis in denominated currency with dividends re-invested.

YTD stands for year-to-date
^ Returns are based on RMB currency. Therefore, USD/HKD-based investors are therefore exposed to foreign exchange fluctuations.
# 3 years, 5 years and since inception performance figures are annualized.
* These calendar performance figures are calculated from share class launch date to calendar year-end.
** Distribution classes aim to provide monthly dividends, the rate of dividend is however not guaranteed and may be paid out from the Fund’s capital. (Please refer to Important Information 6)
This class of Units is only available to certain ORSO schemes, pension funds and certain investors who meet eligibility criteria as decided by the Manager.

Please note that a positive dividend yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the table above. You should read the relevant offering document (including the Product Key Facts Statements) of the Fund for further details including the risk factors. The net distributable income means net investment income (i.e. dividend income and interest income net of fees and expenses) attributable to the relevant share class. The net investment income excludes realized and unrealized gains.

This webpage is issued by Income Partners Asset Management (HK) Ltd. and has not been reviewed by Hong Kong Securities and Futures Commission. This webpage only provides a summary and may be incomplete or incomprehensive. Accordingly, the information is qualified in its entirety by the terms applicable to the Fund as set out in its constitutive and offering documents (“Fund Documents”), and should be read together with such Fund Documents. This page is for informational purpose only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. The representative of the Fund in Switzerland is Hugo Fund Services SA, 6 Cours de Rive, 1204 Geneva. The distribution of units/shares in Switzerland must exclusively be made to qualified investors. The place of performance and jurisdiction for units/shares in the Fund distributed in Switzerland are at the registered office of the Representative.

Legal Information for investors of Hong Kong

The issuer of this website is Income Partners Asset Management (HK) Limited. Income Partners Asset Management (HK) Limited, its affiliates or subsidiaries (hereinafter collectively "Income Partners") assume no responsibility for the financial or other consequences arising from the subscription or purchase of the securities described in this website. The information contained in this section of the website is not intended as an offer to sell securities or a solicitation to buy fund(s) managed or advised by Income Partners Asset Management (HK) Limited (“Income Partners funds”). It aims to provide general information on Income Partners funds that have been authorized for retail sale in Hong Kong and are available for investment and purchase in Hong Kong. This site is not directed to individuals or organizations for whom such offer or invitation would be unlawful or prohibited. The fund(s) referred to in this section of the website is/are authorized by the Securities and Futures Commission (“SFC”) for sale to the public in Hong Kong. SFC authorization is not an official recommendation or endorsement of a scheme nor does it guarantee the commercial merits or its performance. It does not mean that a scheme is suitable for investors nor it is an endorsement of its suitability for any particular investor or class of investors. The material contained in this website has not been reviewed by the SFC. The information presented in this website is based, among other things, on market data at a given time, that is therefore subject to market changes and may change from time to time. Although Income Partners reasonably believes that the third party information contained in this website is accurate, complete and up-to-date, no guarantee beyond what Income Partners reasonably believes is accurate, complete and up-to-date is made as to the accuracy, completeness or reliability of information provided by third parties. This website does not collect personal information. "Cookies" may be stored on your computer for easy navigation. A "cookie" does not allow us to identify you, but stores information about navigation through our website (such as pages already visited, time and date of visit) which we can remember during the user's next visit to our website in order to improve your browsing experience. By clicking on this “Accept” button, you acknowledge and agree to the terms and conditions above. You undertake to access the information contained in this web site for your personal use and not for commercial use.

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