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E Fund (HK) Asia Semiconductor Index Fund
Important Notes Fund Information Portfolio Allocation Performance Distribution History Announcements Notices Documents Distributors
Investment Objective and Strategy
Objective

The investment objective is to provide investment results that, before fees and expenses, closely correspond to the performance of the Solactive Asia Semiconductor Select Index (the “Index”). There is no assurance that the Sub-Fund will achieve its investment objective.
Strategy

The Sub-Fund is a feeder fund which, in seeking to achieve its investment objective, will invest at least 90% of its NAV in the E Fund (HK) Solactive Asia Semiconductor Select Index ETF (the “Master ETF”). Investment in units in the Master ETF by the Sub-Fund will be made via the secondary market (i.e. through the SEHK on which the Master ETF is listed). During extreme market circumstances where there is insufficient liquidity on the secondary market, the Manager may subscribe and redeem units of the Master ETF on the primary market. The Master ETF is managed by the Manager and is authorised by the SFC. SFC authorisation is not a recommendation or endorsement of the Master ETF nor does it guarantee the commercial merits of the Master ETF or its performance. It does not mean the Master ETF is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.
Please find below the illustrative diagram showing the Sub-Fund / Master ETF structure:



Other Investments
 No more than 10% of the NAV of the Sub-Fund may be invested in collective investment scheme(s) other than the Master ETF which may be eligible schemes (as defined by the SFC) or authorised by the SFC. Any investments in the exchange traded funds will be considered and treated as collective investment schemes for the purposes of and subject to the requirements in 7.11, 7.11A and 7.11B of the Code.
The Sub-Fund may also invest up to 10% of its NAV on an ancillary basis in money market instruments, unlisted and listed money market funds and/or cash and cash equivalents for cash management purposes.
The Manager may borrow up to 10% of the Sub-Fund’s NAV to acquire investments, to redeem Shares or to pay expenses relating to the Sub-Fund.
The Sub-Fund may enter into financial derivative instruments for investment or hedging purposes to the extent permitted by the investment restrictions in Chapter 7 of the Code and the Explanatory Memorandum of the Company and the Sub-Fund.
The Manager will not enter into any securities lending, sale and repurchase or reverse-repurchase transactions or other similar over-the-counter transactions in respect of the Sub-Fund. The Manager will seek prior approval of the SFC (to the extent required under applicable regulatory requirements) and provide at least one month’s prior notice to Shareholders before the Manager engages in any such transactions.


Master ETF
The Master ETF is a sub-fund of E Fund ETFs Trust, an umbrella unit trust established under Hong Kong law. The Sub-Fund is a passively-managed ETF falling within Chapter 8.6 of the Code. Units of the Sub-Fund are traded on SEHK like stocks.
Investment objective and Strategy of the Master ETF
The investment objective of the Master ETF is to provide investment results that, before fees and expenses, closely correspond to the performance of the Index.
In seeking to achieve the Master ETF’s investment objective, the Manager will either use a full replication strategy or a representative sampling strategy as the Manager believes to be appropriate in order to achieve the investment objective of the Master ETF by tracking the Index as closely as possible to the benefit of the investors. The Master ETF may switch between the full replication strategy and the representative sampling strategy in its absolute discretion without prior notice to investors.
In pursuing the full replication strategy, the Manager will invest in substantially all securities constituting the Index (the “Index Securities”) which are common stocks securities listed on a regulated stock exchange in Hong Kong, the United States (for American Depositary Receipts (ADRs) of companies headquartered in Taiwan), Japan and South Korea in substantially the same weightings (i.e. proportions) as these Index Securities have in the Index.
In pursuing the representative sampling strategy, the Manager may:

  1. invest in a representative sample whose performance is closely correlated with the Index, but whose constituents may or may not themselves be constituents of the Index;
  2. invest less than 30% of the Master ETF’s NAV in collective investment schemes (“CIS”), each being either an exchange traded fund or an unlisted index tracking fund which tracks an index that has a high correlation with the Index. Such CIS may be authorised by the SFC, eligible schemes under Chapter 7.11A of the Code, or non-eligible schemes. For the avoidance of doubt, the Master ETF’s aggregate investment in non-eligible schemes and not authorised by the SFC may not exceed 10% of the NAV of the Master ETF; and/or
  3. invest in financial derivative instruments including futures and swaps with less than 30% of the Master ETF’s NAV for investment and hedging purposes, where the Manager believes such investments will help the Sub-Fund achieve its investment objective and are beneficial to the Master ETF.
In pursuing a representative sampling strategy, the Manager may cause the Master ETF to deviate from the Index weighting on condition that the maximum deviation from the Index weighting of any constituent will not exceed 3% or such other percentage as determined by the Manager after consultation with the SFC.
The Master ETF may invest in money market funds (subject to the investment restrictions as set out in Chapter 7 of the Code), and in cash deposits and cash equivalents for cash management purposes, up to 30% of its NAV.
The Manager may, on behalf of the Master ETF, enter into securities lending transactions, with the maximum level for up to 50% and expected level for approximately 20% of its NAV, and is able to recall the securities lent out at any time. As part of the securities lending transactions, the Master ETF must receive cash and/or non-cash collateral of at least 100% of the value of the securities lent (interests, dividends and other eventual rights included). The collateral will be marked-to-market on a daily basis and be safekept by the Custodian.
Currently the Manager has no intention to enter into sale and repurchase or reverse repurchase transactions and other similar over-the-counter transactions on behalf of the Master ETF. The Manager will seek the prior approval of the SFC (if required) and provide at least one month’s prior notice to unitholders of the Master ETF before the Manager engages in any such investments.


Index
The Index is designed to represent the performance of companies engaged in semiconductors in Hong Kong and East Asia. The Index is a net total return, free float market capitalisation weighted index, denominated and quoted in HKD. Its performance reflects the reinvestment of dividends and distributions, net of withholding tax, from the Index constituents.
For the Hong Kong universe of the Index, the instrument must be (i) listed on the SEHK; and (ii) available via the Southbound Trading of the Shanghai-Hong Kong or Shenzhen-Hong Kong Stock Connect Program. For the remaining universe of the Index, the instrument must be listed on the Tokyo Stock Exchange, KOSDAQ, KOSPI Stock Market, or listed in the United States as an ADR and headquartered in Taiwan (“Remaining Index Universe”).
Constituent securities must be classified under the FactSet Revere Business Industry Classification System (RBICS) as either Semiconductor Manufacturing or Semiconductor Equipment and Services. If fewer than 15 securities are eligible from either Hong Kong universe or Remaining Index Universe, additional securities from specified RBICS Subsectors (please refer to the Appendix of the Sub-Fund in Part 2 of the Prospectus for more details) may be included until the Index contains 15 securities per universe.
The maximum weight of any single Index component is 10%. If additional securities from other RBICS Subsectors are included, the weight of each additional security will be capped at 3% and the total weight of such additional securities will be capped at 25%. The aggregate weight of Hong Kong Index components is fixed at 65% of the total Index weight, and the aggregate weight of Remaining Index Universe components is fixed at 35%.
The Index is rebalanced semi-annually on the third Friday in March and September. The Manager (and its connected persons) is independent of Solactive AG, the Index Provider.
The Index was launched on 30 September 2025 and had a base level of 1,000 on 20 March 2020. As of 6 January 2026, the Index had a total market capitalisation of approximately HKD25.21 trillion and 30 constituents. The Index composition (including a list of the constituents and their respective weightings), index methodology, and additional information are available on the website of the Index Provider at https://www.solactive.com/indices/?index=DE000SL0R4Z3 (this website has not been reviewed or approved by the SFC)

Bloomberg Code: SOLG2AHN

Fund Information
HKD
RMB
USD
Class A (Acc) HKD
Class A (Acc) RMB
Class A (Acc) USD
Manager
Inception Date
Base Currency
Management Fee (p.a.) *
(% Net Asset Value of the Sub-Fund per annum)
Subscription Fee
Switching Fee
Performance Fee
Custodian Fee
Redemption Fee
Dealing & Trading Frequency
Current NAV Per Unit ()
as of
Custodian
Historical NAV
Download
ISIN
Bloomberg Ticker
*Please note that these fees may be increased up to a permitted maximum on giving 1 month’s notice to unitholders. Please refer to the section of the prospectus entitled “Fees and Expenses” for further details of the fees and charges payable.
Disclaimer
Index Provider Disclaimer

Solactive AG (“Solactive") is the licensor of Solactive Asia Semiconductor Select Index (the “Index”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or completeness of the Index; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index. Solactive does not guarantee the accuracy and/or the completeness of the Index and shall not have any liability for any errors or omissions with respect thereto. Notwithstanding Solactive’s obligations to its licensees, Solactive reserves the right to change the methods of calculation or publication with respect to the Index and Solactive shall not be liable for any miscalculation of or any incorrect, delayed or interrupted publication with respect to the Index. Solactive shall not be liable for any damages, including, without limitation, any loss of profits or business, or any special, incidental, punitive, indirect or consequential damages suffered or incurred as a result of the use (or inability to use) of the Index.

E Fund HK Disclaimer

Unless otherwise stated, E Fund Management (Hong Kong) Co., Limited is the issuer of the content of this website. This website 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.
Investment involves risk. Fund value may go up and down. Past performance is not indicative of future performance. Investors should read carefully the Explanatory Memorandum (including the risk factors) for the relevant risks associated with the investment in the fund before investing.
Distribution of the content herein may be restricted in certain jurisdictions. This website does not constitute the distribution of any information in any jurisdiction in which such distribution is unlawful. This website 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.