All China Bond Fund

A holistic approach unlocking opportunities in Chinese bonds

Fund highlights

01

All China approach & portfolio diversification​

Including onshore (CNY) and offshore (USD, CNH) bonds maximising​ the investment opportunity set​

02

Robust solution seeking​ outperformance​

Flexible portfolio construction aims for good risk adjusted returns by investing across onshore government bonds and credit1​

03

Aims to pay monthly dividend ​

Annualised dividend yield: 4.54% (A Inc-3 USD) (Dividend is not guaranteed, dividends may be paid out of the​ Fund’s capital attention to point 3 of Important information)2​
Tapping into the second largest bond market globally
  • A vast bond market: China has the world’s second largest bond market and the world’s largest developing bond market3.
  • An attractive income opportunity: Chinese bond yields are generally higher than their global peers.
  • A diversifying allocation: China’s bond markets have exhibited low correlation with major risk asset classes historically.

Advantages of investing in Chinese bonds

Advantages of investing in Chinese bonds

Why Chinese bonds?

Tapping into the second largest bond market globally
  • A vast bond market: China has the world’s second largest bond market and the world’s largest developing bond market3.
  • An attractive income opportunity: Chinese bond yields are generally higher than their global peers.
  • A diversifying allocation: China’s bond markets have exhibited low correlation with major risk asset classes historically.

Advantages of investing in Chinese bonds

Advantages of investing in Chinese bonds

Why now?

Chinese bonds are moving rapidly to the mainstream
  • China bonds are under-represented in investor portfolios. Mainstream index inclusion is set to change this.
  • With China’s rising prominence in the global economy and the opening up of its markets, we believe that China bonds will feature increasingly as a core fixed income holding.

Investment into China is trending up4

Investment into China is trending up

Why the Fund?

Holistic approach investing in Chinese bonds
  • A holistic approach to investing in Chinese fixed income, spanning onshore and offshore bonds, sovereign & corporate debt and FX.
  • Disciplined, bottom-up approach targets investments that offer both attractive yield and good credit quality.
  • USD, HKD, RMB and AUD denominated share classes available with monthly dividend distribution (Dividend is not guaranteed, dividends may be paid out of the Fund’s capital attention to point 3 of Important information)2.

Holistic All China Approach

  Annualised dividend yield
A Inc-3 USD​​ 4.54%
A Inc-3 HKD​​ 4.51%​
A Inc-3 RMB​​​​ 4.32%​
A Inc-3 AUD Hedged​ (Reference) 4.57%​

Literature

China bond – latest insights
Past performance should not be taken as a guide to the future and there is no guarantee that this investment will make profits; losses can be made. Performance of underlying securities does not represent the performance of the Fund.

1The portfolio may change significantly over a short period of time. 2Ninety One, as at 30.06.22, based on A Inc-3 USD share class. Annualised dividend yield (%): (Distribution per share/Record date NAV) x 12. A positive yield does not imply a positive return. 3Source: Bank for International Settlements, 31.12.21. 4People’s Bank of China, China Central Depository & Clearing, Shanghai Clearing House, 31.05.22.
Past performance figures shown are not indicative of future performance. Investors are reminded that investment involves risk. Investors should refer to the offering documents for details, including risk factors. This website has not been reviewed by the SFC. 

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Issuer: Ninety One Hong Kong Limited
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