E Fund (HK) Global Quality Growth Fund
Important Notes Fund Information Distribution History Announcements Notices Documents Distributors
Investment Objective and Strategy
Objective

The Sub-Fund seeks to achieve investment return through capital appreciation and income generation by investing primarily in equity securities and equity-related securities issued by issuers worldwide, as further described below.
Strategy

The portfolio construction is based on the Investment Manager's fundamental view of the equity markets and is independent from broad market benchmarks. In particular the Sub Fund's performance will not be measured against any benchmark.

To achieve this investment objective, the Sub-Fund will invest primarily (at least 70% of its net assets) in equity securities (including, but not limited to, common shares and preference shares) and equity-related securities (including, but not limited to, eligible exchange traded funds (the ETFs) provided that the underlying assets of these ETFs are eligible investments for this Sub-Fund) listed worldwide.

As part of its global strategy, the Sub-Fund may have an allocation to PRC companies through investments in China A-Shares listed on the SSE and the SZSE, which the Sub-Fund will access using Stock Connect, and China H-Shares denominated in HKD and traded in Hong Kong.

The Sub-Fund's investments will not be subject to any geographic, industry, sector or market capitalisation restrictions.

The Sub-Fund may invest on an ancillary basis (up to 30% of its net assets) in investment grade fixed income securities, either directly or indirectly through the ETFs, such as corporate and government bonds. In case of a downgrade of a security to below investment grade or distressed or default (rated CCC+ (or equivalent by Standard & Poor's, Moody's or Fitch or an equivalent rating from an internationally recognised rating agency) or below), the Investment Manager may (i) sell a part or the entire amount of security held or (ii) terminate the transaction entered into, at its discretion. The decision will be based on an assessment implementing a risk versus reward compromise, taking into account, among other things, market liquidity, term of maturity, interest rates, creditworthiness of issuer and quality of collaterals. The Investment Manager will sell a security or terminate a transaction when the probability of additional losses is considered sufficiently strong or if the possibility of salvaging some of the value of the security is considered weak. To the contrary, the Investment Manager will keep the security in portfolio or remain in the transaction when the possibility and attractiveness of salvaging parts of the value of the security is considered strong. In any event, the Sub-Fund will not invest more than 10% of its total assets in non-investment grade securities or distressed or default securities.

The Sub-Fund will not invest in unrated fixed income securities or in securitized instruments such as collateralized loan obligations (CLOs), asset-backed securities (ABS), and mortgagebacked securities (MBS).

Except for investments in ETFs as above, investments in units or shares of other collective investment schemes which are non-eligible scheme and not authorised by the SFC, including eligible Real Estate Investment Trusts (REITs), shall not in aggregate exceed 10% of the net assets of the Sub-Fund. Such collective investment schemes may be managed by the Management Company, the Investment Manager, or their connected persons.

The Sub-Fund may also invest in financial derivatives instruments for hedging and efficient portfolio management purposes in accordance with the 2010 Law. The Investment Manager may in particular utilize a variety of financial derivative instruments and strategies to hedge against interest rate, credit and currency fluctuations. The Sub Fund may for example enter into futures, swaps, forwards for hedging and interest rate/currency exposure management purpose. The Sub-Fund may also enter into China A-Shares index futures traded outside of the PRC for hedging purposes. The Sub-Fund's net derivative exposure may be up to 50% of its net assets.

The Sub-Fund may hold ancillary liquid assets (i.e., bank deposits at sight, such as cash held in current accounts with a bank accessible at any time) up to 20% of its net assets in order to cover current or exceptional payments, or for the time necessary to reinvest in eligible assets provided under article 41(1) of the 2010 Law or for a period of time strictly necessary in case of unfavorable market conditions. On a temporary basis, for a period of time strictly necessary, and if justified by exceptionally unfavorable market conditions, the Sub-Fund may, in order to take measures to mitigate risks relative to such exceptional market conditions in the best interests of the investors, hold ancillary liquid assets up to 100% of its net assets.

In order to (i) achieve its investment goals, (ii) for treasury purposes, and/or (ii) in case of unfavorable market conditions, the Sub-Fund may hold cash equivalent (i.e., bank deposits excluding bank deposits at sight, Money Market Instruments, or money market funds) up to 30% of its net assets.

The attention of the Shareholders is drawn to the fact that the liquidity of the securities in which the Sub-Fund may invest may be temporarily limited.

The Sub-Fund will not enter into (i) repurchase or reverse repurchase agreements, (ii) securities lending and securities borrowings, and (iii) total return swaps. Should the Sub-Fund use any of these techniques, this Prospectus shall be updated accordingly.

The Sub-Fund is actively managed without any reference to a benchmark.
Fund Information
HKD
RMB
USD
EUR
GBP
AUD
CHF
Class A AUD (Accumulation)
Class A AUD (Distribution)
Class A CHF (Accumulation)
Class A CHF (Distribution)
Class A EUR (Accumulation)
Class A EUR (Distribution)
Class A GBP (Accumulation)
Class A GBP (Distribution)
Class A HKD (Accumulation)
Class A HKD (Distribution)
Class A RMB (Accumulation)
Class A RMB (Distribution)
Class A USD (Accumulation)
Class A USD (Distribution)
Class I AUD (Accumulation)
Class I AUD (Distribution)
Class I CHF (Accumulation)
Class I CHF (Distribution)
Class I EUR (Accumulation)
Class I EUR (Distribution)
Class I GBP (Accumulation)
Class I GBP (Distribution)
Class I HKD (Accumulation)
Class I HKD (Distribution)
Class I RMB (Accumulation)
Class I RMB (Distribution)
Class I USD (Accumulation)
Class I USD (Distribution)
Investment Manager
Inception Date
Base Currency
Management Fee
Investment Management Fee (p.a.) *
Subscription Fee
Switching Fee
Performance Fee
Depositary fee
Redemption Fee
Dealing & Trading Frequency
Current NAV ()
as of 16 May,2024
Depositary
Historical NAV
Management Company
ISIN
Bloomberg Ticker
*Investors will be given at least one (1) month’s prior notice before an increase in the investment management fee may take effect.
Disclaimer
Copyright© 2024. E Fund Management (Hong Kong) Co., Limited.

E Fund Management (Hong Kong) Co., Limited is the issuer of this report. This report is neither an offer nor solicitation to purchase units of the fund; applications for units may only be made on forms of application available with the Explanatory Memorandum. Investments are subject to investment risks, fund value may go up as well as down and past performance is not indicative of future performance. Investors should read carefully the Explanatory Memorandum (including the section “Risk Factors”) for the relevant risks associated with the investment in the fund before investing.
Distribution of this report may be restricted in certain jurisdictions. This report does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a report or make such an offer or solicitation. This report is exempted from pre-vetting and authorization by the Securities and Futures Commission of Hong Kong and has not been reviewed by the Securities and Futures Commission of Hong Kong.
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.