Income Partners manages Unconstrained Long Strategies that are authorized by the Hong Kong Securities Futures Commission (“HK SFC”).
These strategies aim to generate attractive returns through dynamic portfolio management. Portfolio duration and allocations are managed independently of market benchmarks.
*SFC authorization is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance. It does not mean the product is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.
Income Partners RMB Bond Fund
Key Features
Quick Facts
- FUND SIZE (AUM)
- RMB2.3 million as of end Feb 2024
- MINIMUM INVESTMENT
- Class 2A (USD) : USD 1,000
Class 2B (RMB) : RMB 10,000
Class 2C (HKD) : HKD 10,000
Class 2D (EUR) : EUR 1,000
- FEES & EXPENSES
- Please refer to offering document for details
- Income Partners RMB Bond Fund (the “Fund”) seeks long-term interest income and capital appreciation through investing all or substantially all of its assets in Renminbi (“RMB”)-denominated fixed income securities issued within mainland China.
- Up to 100% exposure to China onshore bonds.
- The Fund will focus on relatively high quality bonds and will provide active management to aim at reducing market downside volatility.
- Distribution share classes aim to pay a 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 #7).
- The Fund offers USD, RMB, HKD and EUR share classes (both accumulation and distribution classes are available) and provides daily liquidity.
Summary Terms
| Inception Date | 2 July 2014 |
| Fund AUM | RMB2.3 million as of end Feb 2024 |
| Share Class | Class 2 (USD, RMB, HKD, EUR, Accumulation and Distribution) |
| Minimum Investment | Class 2A : USD 1,000 Class 2B : RMB 10,000 Class 2C : HKD 10,000 Class 2D : EUR 1,000 |
| Dealing Frequency | Daily |
| Distributing Share Class available | Yes |
| Dividend Frequency | Monthly* |
| Investment Manager | Income Partners Asset Management (HK) Limited |
| Trustee | Cititrust Limited |
| Custodian & Administrator | Citibank, N.A. |
| RQFII Custodian | Industrial and Commercial Bank of China Limited (“ICBC”) |
| Transfer Agent | Citicorp Financial Services Limited |
| Auditor | Ernst & Young |
| Legal Advisors | Deacons |
| ISIN | Class 2A Dis (USD) HK0000204526 Class 2A Acc (USD) HK0000204534 Class 2B Dis (RMB) HK0000204542 Class 2B Acc (RMB) HK0000204559 Class 2C Dis (HKD) HK0000204567 Class 2C Acc (HKD) HK0000204575 Class 2D Dis (EUR) HK0000204583 Class 2D Acc (EUR) HK0000204591 |
| Fund Domicile | Hong Kong Unit Trust |
Fund Documents
| Product Key Facts Statement | DL |
| Explanatory Memorandum | DL |
| Notice to Unitholders - 26 Feb 2024 | DL |
| Notice to Unitholders - 22 Feb 2024 | DL |
| Notice to Unitholders - 13 Oct 2023 | DL |
| Notice to Unitholders - 31 Aug 2023 | DL |
| Annual Report - 2022 | DL |
| Interim Report - 2023 | DL |
* For Distribution (Dis) classes only. 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 7)
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 Acolin Fund Services AG, 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.
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 Acolin Fund Services AG, 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 Date | Share Class | ISIN Code | CCY | NAV |
| 26 Mar 2024 | 2B (Distribution) | HK0000204542 | RMB | 67.93 |
MONTHLY PERFORMANCE: CLASS 2B DISTRIBUTION RMB(%)^
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
| 2024 | 0.56 | -6.36 | -5.83 | ||||||||||
| 2023 | 0.01 | -0.50 | 0.22 | 0.23 | -0.05 | 0.43 | -0.40 | 0.54 | -0.65 | -0.46 | 0.21 | 0.39 | -0.05 |
| 2022 | 0.83 | -0.59 | -0.05 | 0.19 | 0.50 | -0.28 | 0.65 | 0.97 | -0.78 | -0.11 | -0.28 | 0.47 | 1.50 |
| 2021 | -0.17 | -0.25 | 0.79 | 0.49 | 0.57 | 0.00 | 1.59 | 0.27 | -0.03 | -0.28 | 0.86 | 0.69 | 4.60 |
| 2020 | 0.91 | 1.74 | 1.16 | 1.51 | -1.80 | -1.08 | -1.34 | -0.23 | -0.30 | 0.37 | 0.24 | 0.91 | 2.03 |
| 2019 | 0.22 | -0.23 | 0.33 | -1.25 | 0.46 | 0.48 | 0.52 | 0.44 | -0.25 | -0.61 | 0.62 | 0.09 | 0.80 |
| 2018 | -0.15 | 0.38 | 0.26 | 0.69 | -0.38 | 0.06 | 0.58 | -0.41 | 0.08 | 0.71 | 0.77 | 0.90 | 3.53 |
| 2017 | -0.09 | -0.16 | -0.37 | -0.30 | -0.53 | 0.54 | -0.26 | 0.31 | 0.06 | -0.57 | -0.92 | -0.32 | -2.58 |
| 2016 | 0.12 | 0.07 | 0.08 | -0.69 | 0.32 | 0.60 | 0.37 | 0.06 | 0.15 | -0.01 | -0.90 | -1.39 | -1.25 |
| 2015 | 0.98 | 0.93 | -1.07 | 1.07 | 0.66 | 0.11 | 0.97 | 0.69 | 0.53 | 0.78 | -0.26 | 0.84 | 6.37 |
| 2014 | 0.00 | 0.34 | 1.01 | 1.02 | 0.59 | -0.22 | 2.77 |
CUMULATIVE PERFORMANCE (%)
| As of 29 Feb 2024 | YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years# | 5 Years# | Since Inception# |
| 2A Acc (USD) | -7.01 | -6.65 | -6.39 | -5.18 | -8.77 | -3.39 | -0.95 | -0.41 |
| 2B Dis (RMB) | -5.83 | -6.36 | -5.47 | -6.31 | -5.41 | 0.12 | 0.55 | 1.17 |
CALENDAR YEAR PERFORMANCE (%)
| Share Class | 2014* | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Inception Date | |
| 2A Acc (USD) | 2.22 | 0.78 | -6.92 | 4.22 | -1.91 | -0.43 | 9.16 | 7.15 | -6.84 | -2.86 | 4 Jul 2014 | |
| 2B Dis (RMB) | 2.77 | 6.37 | -1.25 | -2.58 | 3.53 | 0.80 | 2.03 | 4.60 | 1.50 | -0.05 | 11 Jul 2014 |
DIVIDEND DISTRIBUTION**
| Dividend Class |
Dividend Rate per Unit |
Record Date | Ex-Dividend Date |
Dividend Payment Date |
Dividend Reinvestment Date |
Historical Dividend payment |
| Class 2B (RMB) | ¥0.08 | 29 Feb 2024 | 1 Mar 2024 | 5 Mar 2024 | 5 Mar 2024 | DL |
Source: Income Partners Asset Management (HK) Ltd.
Please note that Income Partners RMB Bond Fund – Class 2B Distribution share class was fully redeemed on 26 March 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2A Accumulation share class was fully redeemed on 15 March 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2B Accumulation share class was fully redeemed on 26 February 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2A Distribution share class was fully redeemed on 20 October 2021, hence there will be no NAV or returns figures available and also no dividend will be paid out until new subscription comes in for such share class.
Please note that Income Partners RMB Bond Fund – Class 2C Distribution share class was fully redeemed on 6 March 2019, hence there will be no NAV or returns figures available and also no dividend will be paid out until new subscription comes in for such share class.
For Distribution classes, fund performance is calculated on NAV to NAV basis in denominated currency with dividends re-invested. For Accumulation classes, fund performance is calculated on NAV to NAV basis in denominated currency.
YTD stands for year-to-date
^ From April 2020 onwards, the Manager views Class 2B (Accumulation) Units as the most appropriate representative unit class, as it is the largest unit class currently offered to the public in Hong Kong, is broadly representative of the Fund’s performance and is denominated in the base currency of the Fund.
# 3 Years, 5 Years and Since inception performance figures are annualized.
* The calendar performance figure is 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 7)
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 Acolin Fund Services AG, 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.
Please note that Income Partners RMB Bond Fund – Class 2B Distribution share class was fully redeemed on 26 March 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2A Accumulation share class was fully redeemed on 15 March 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2B Accumulation share class was fully redeemed on 26 February 2024, hence there will be no NAV or returns figures available.
Please note that Income Partners RMB Bond Fund – Class 2A Distribution share class was fully redeemed on 20 October 2021, hence there will be no NAV or returns figures available and also no dividend will be paid out until new subscription comes in for such share class.
Please note that Income Partners RMB Bond Fund – Class 2C Distribution share class was fully redeemed on 6 March 2019, hence there will be no NAV or returns figures available and also no dividend will be paid out until new subscription comes in for such share class.
For Distribution classes, fund performance is calculated on NAV to NAV basis in denominated currency with dividends re-invested. For Accumulation classes, fund performance is calculated on NAV to NAV basis in denominated currency.
YTD stands for year-to-date
^ From April 2020 onwards, the Manager views Class 2B (Accumulation) Units as the most appropriate representative unit class, as it is the largest unit class currently offered to the public in Hong Kong, is broadly representative of the Fund’s performance and is denominated in the base currency of the Fund.
# 3 Years, 5 Years and Since inception performance figures are annualized.
* The calendar performance figure is 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 7)
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 Acolin Fund Services AG, 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.