搜尋結果
5 估值及量度債券敏感度是 期限管理的基礎 （政府）債券的價格會隨市況波動。這不是甚麼 新鮮事，但卻可加以利用作特定用途，例如支持 期限管理。債券市場比起驟眼來看似乎更加耐人尋 味。投資者如欲管理債券投資組合，必
債券凸性可透過泰勒公式 (Taylor Series)，以計算近似值平方根的方式 衍生出來，並得出以下結果： Konv = (∑ t=1 tCF t /(1+i) *t*(t+1))/K 有關準確的計算，請參閱「債券市場、分析及策略」，Frank J. Fabozzi，2000年 Frank J. Fabozzi, 2000年. 方框5：計算債券凸性
- 6. Addition of disclosure relating to investment restrictions on ETF
- The following sub-headings and paragraphs are inserted after item 8.1.47 under the “VIII. RISK CONSIDERATIONS” section of the Prospectus:
- 8.1.49. Risks of Investing in Other Collective Investment Schemes
- The Sub-Fund
- (滙豐機構信託服務(亞洲)有限公司) as Trustee (the “Trustee”).
- GLOSSARY
- Connected Person
- Dealing Day
- PRC
- RMB/Chinese Renminbi
- 3.3. Registrar
- INVESTMENT IN THE SUB-FUNDS
- 4.1. Classes of Units
- Subscription, Minimum Subsequent Subscription and Minimum Holding Amounts
- 4.3. Dealing Day, Dealing Deadline and Dealing Instructions
- 4.4.1. Initial Subscriptions
- 4.4.2. Issue of Units
- 4.4.5. Anti-Money Laundering
- 4.5.1. Payment of Redemption Proceeds
- 4.5.2. Compulsory Redemption of Units
- 4.6. Conversion of Units
- 4.9.1. Calculation of NAV Per Unit
- 4.9.2. Temporary Suspension of Calculation of NAV and Unit Issue, Redemption and Conversion
- V. FEES AND CHARGES
- 5.2.2. Management Fee
- VI.
- Transactions with Connected Persons
- 6.2. Soft Commissions
- 6.3. Commission Sharing Arrangements
- VII. INVESTMENT POWERS, RESTRICTIONS AND PROHIBITIONS
- Regulatory Risks
- Differences in trading day, quota and foreign shareholding limitations
- Settlement and custody
- Beneficial owner of the Stock Connect securities and Corporate actions
- Local market rules and disclosure obligations
- Investor compensation
- RMB currency risk
- Risks associated with the ChiNext Board
- DISTRIBUTIONS
- 9.2. Accumulation Units
- X. TAXATION
- 10.2. Taxation of the Unitholders
- 10.3. Stamp Duty
- XI.
- 11.1. Trust Deed
- 11.2. The Trust and the Sub-Funds
- 11.3. Meetings
- 11.4. Voting Rights
- 11.5. Restrictions of Unitholders
- 11.6. Reports and Accounts
- 11.7. Collection and Use of Personal Data
- 11.8. Modification to the Trust Deed
- 11.9. Liquidity Risk Management
- 11.10. Termination, Merger or Division of the Trust or any Sub-Fund
- 11.11. Available Documents
The following paragraph is inserted after item 8. (f) under the “VII. INVESTMENT POWERS, RESTRICTIONS AND PROHIBITIONS” section of the Prospectus: “(g) Unless otherwise disclosed in the Appendix of a Sub-Fund, ETFs that a Sub-Fund invests in will be considered and treated as collective investment schemes.”
“8.1.48. Risks relating to Investment in ETF. A Sub-Fund which may invest in ETFs is subject to the following risks: Passive investment risks - The ETF that the Sub-Fund invests in may not be “actively managed” and the manager of the relevant ETF does not attempt to select securities or to take defensive positions in declining markets. Consequentl...
A Sub-Fund schemes (the may invest substantially in other collective investment “underlying schemes”), and may therefore be subject to the risks associated with the underlying schemes. The Sub-Fund does not have control of the investments of the underlying schemes and there is no assurance that the underlying schemes’ investment objectives and stra...
*The Manager may levy a lower Management Fee at its absolute discretion.
The Manager accepts full responsibility for the accuracy of the information contained in this Prospectus, as at the date of publication, and confirms, having made all reasonable enquiries that, to the best of its knowledge and belief, there are no other facts, the omission of which, would make any statement misleading. However, neither the delivery...
The defined terms used in this Prospectus have the following meanings: Accumulation Unit(s)
Unit(s) in relation to which the income earned and realised capital gains thereon is generally not paid out to the relevant Unitholders but, instead, remains in the relevant Sub-Fund or in the respective Class of Units and is reflected in the value of the relevant Accumulation Units. Australian dollar, the lawful currency of Australia. The currency...
In relation to a Sub-Fund, means each Business Day and/or such other day or days, as the Manager and the Trustee may determine from time to time for the processing of applications for subscription, redemption or conversion of Units in the Sub-Fund. For the avoidance of doubt, different Dealing Days may be determined in relation to the issue, redemp...
Rating Redemption Price per Unit Register Registrar Restricted Person
The People’s Republic of China. A rating of the relevant investment by Standard and Poor’s or any other internationally recognized rating agency at the time of its acquisition and, in the case that no rating is given to the relevant investment, but, in the opinion of the Manager or the Investment Manager (as applicable), if such investment was to b...
Allianz Global Investors Asia Pacific Limited has been appointed by the Trustee to act as the registrar of the Trust in Hong Kong, and, in particular, to maintain the Register of Unitholders. IV.
Prospective investors should also refer to the Appendices relating to specific Sub-Funds for further details regarding investment into the relevant Sub-Funds.
Each Sub-Fund may issue one or more Classes of Units. Classes A, P and I are Distribution Units which will have an annual distribution frequency unless otherwise indicated by the relevant distribution frequency indicators shown in the table below: Class I Units may only be subscribed for by institutional investors. Class P Units may only be subscri...
Details of the minimum initial subscription, minimum subsequent subscription and minimum holding amounts applicable to each Class of Units in each Sub-Fund are set out in the following table: * Or an equivalent amount in any other available currency that is accepted by the Manager. The Manager may refuse to accept redemption, conversion or transfer...
Dealing in the Units of a Sub-Fund can normally be effected on a daily basis on any Dealing Day of the Sub-Fund. Unless determined otherwise by the Manager, in order for requests for subscriptions, redemptions or conversions to be effected on a Dealing Day, such requests must be received by the Manager before the relevant Dealing Deadline. Any deal...
Units will be available for subscription for an initial period (the “Initial Subscription Period”), to be determined by the Manager, after consultation with the Trustee. During the Initial Subscription Period, Units will be offered at a fixed subscription price per Unit (the “Initial Subscription Price per Unit”) (exclusive of any Subscription Fee)...
Units of each Sub-Fund may be issued on each Dealing Day (except during the Initial Subscription Period, which Units will be issued on the last day of the Initial Subscription Period). In the event that payment in cleared funds (in accordance with Section 4.4.4 below, headed “Method of Payment”) is not received, the Manager may, after consultation ...
The Manager, the Trustee and/or the transfer agent (if any) may reasonably require any investor who wishes to subscribe for Units to provide all necessary information to verify the identity of such investor and the source of funds, in accordance with applicable Hong Kong legislation and regulations on the prevention of money laundering and terroris...
Each Unit will be redeemed at the Redemption Price per Unit (exclusive of any Redemption Fee). The Redemption Price per Unit on any Dealing Day will be an amount equal to the NAV per Unit of the relevant Class on such Valuation Day, such amount to be rounded to the nearest 2 decimal places or such decimal places as determined by the Manager, and an...
If any Units are owned directly or beneficially by any Restricted Person in contravention of the restrictions of Trust Deed, the Manager may, at its absolute discretion, give notice to such person requiring him to transfer such Units to a person who would not be in contravention of any such restrictions (the “Instruction to Sell”) or may give a wri...
Currently, Classes of Units of a Sub-Fund may be converted (in whole or in part) into (i) Units of another Class of Units of the same Sub-Fund; or (ii) Units of the same or a different Class of Units of another Sub-Fund. A conversion shall be treated as a redemption of Units followed by the subscription of new Units, in accordance with the subscrip...
The NAV of each Sub-Fund will be calculated as at the close of business in the last market to close of all relevant markets in which the relevant Sub-Fund is invested (or at such other times as the Manager and the Trustee may from time to time select) on each Valuation Day (“Valuation Time”) by valuing the assets of the relevant Sub-Fund, and deduc...
The Manager may, in consultation with the Trustee and having regard to the best interests of the Unitholders, suspend the calculation of the NAV of each Sub-Fund as well as the issue, redemption and the conversion of Units in each individual Sub-Fund thereof in any of the following circumstances: there exists any state of affairs prohibiting the no...
The following sections, read together with the relevant Appendix relating to each Sub-Fund, summarise the fees and charges applicable to the Sub-Funds and the respective Classes of Units:
The Manager, in its capacity as Manager, is entitled to receive out of the assets of each Sub-Fund, a management fee (the “Management Fee”) which will accrue daily and is payable monthly in arrears. The Management Fee is calculated based on the daily NAV of the relevant Class of Units of the relevant Sub-Fund. Details of the Management Fee payable ...
6.1. The Trust shall pay, out of the assets of the relevant Sub-Fund, all expenses payable by such Sub-Fund. Where such expenses are not directly attributable to a Sub-Fund or a Class, such expenses will be allocated amongst all the Sub-Funds in proportion to the respective NAV of each Sub-Fund. Expenses include, but are not limited to, the costs o...
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
Copies of the following documents may be inspected free of charge at the offices of the Manager or obtained on payment of a reasonable charge from the Manager during usual business hours: the Prospectus and the KFS of each Sub-Fund; the Trust Deed; any material contracts; and the latest reports and accounts (if any) of the Sub-Fund(s).
