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Value China ETF, Value China A-Share ETF, Value Japan ETF, Value Korea ETF and Value Taiwan ETF

  • Value China ETF, Value China A-Share ETF, Value Japan ETF, Value Korea ETF and Value Taiwan ETF (collectively the “Funds”) are index-tracking funds listed on the Stock Exchange of Hong Kong Limited (“SEHK”) which aim to provide investment results that closely correspond to the performance of the FTSE Value-Stocks China Index, FTSE Value-Stocks China A-Share Index, FTSE Value-Stocks Japan Index, FTSE Value-Stocks Korea Index and FTSE Value-Stocks Taiwan Index respectively.
  • Value China ETF, Value China A-Share ETF, Value Korea ETF and Value Taiwan ETF are subject to emerging market risks. Generally, investments in emerging markets are subject to a greater risk of loss than investments in a developed market due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity etc.
  • Each of the Funds is also subject to concentration risk as a result of investing only in a single geographical region. Adverse developments in such regions may affect the value of the underlying securities in which the Funds invest.
  • An affiliated company of the Manager and Sub-Manager of the Funds assists with the compilation of the Index and accordingly potential conflicts of interests may arise.
  • Prices on the SEHK are based on secondary market trading factors and may deviate significantly from the net asset value of the Funds.
  • You should not make investment decision on the basis of this website alone. Please read the prospectus for details and risk factors.
  • The Fund/ the investment manager may at its discretion pay dividend out of gross income while charging/ paying all or part of the Fund’s fees and expenses to/ out of the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividend out of capital.
  • Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
  • Any distributions involving payment of dividends out of the fund’s capital or payment of dividends effectively out of the fund’s capital (as the case may be) may result in an immediate reduction of the net asset value per share/unit.

Value Gold ETF

  • Value Gold ETF (the “Fund”) is a fund listed on the Stock Exchange of Hong Kong Limited (“SEHK”), which aims to provide investment results that closely correspond to the performance of the London Bullion Market Association Gold Price.
  • The Fund only invests in bullion and may experience greater volatility due to single economic, market or political occurrences.
  • The Fund has adopted a multi counter and units are traded in HKD, RMB and USD on SEHK. The nature of the multi-counter model may make investment in the units riskier than in single counter units or shares of an SEHK listed issuer. Investors without RMB or USD accounts may buy and sell HKD traded units only.
  • RMB is not a freely convertible currency and is subject to foreign exchange control policies, as well as repatriation restrictions imposed by the PRC government. Investors whose base currencies of investments are not in RMB should take into account the potential risk of loss arising from fluctuations in value between such currencies and the RMB.
  • The Fund does not insure its bullion and the Fund and unitholders could suffer a loss if the bullion held by the custodian is lost or damaged.
  • As the Fund is not actively managed, the Manager will not adopt a temporary defensive position against any market downturn. Investors may lose part or all of their investment.
  • Trading prices of units on the SEHK are subject to market forces and the units may trade at a substantial premium/discount to the net asset value of the Fund.
  • You should not make investment decision on the basis of this website alone. Please read the prospectus for details and risk factors.

Sensible Asset Management Hong Kong Limited 盛寶資產管理香港有限公司 (“SAMHK”) does not make representation that information and website on this site are appropriate for use in all jurisdictions available on the web, or that transactions, securities, products, instruments or services offered on this site are available or indeed appropriate for sale or use in all jurisdictions, or by all investors or other potential clients. Those who access this site do so on their own initiative, and are therefore responsible for compliance with applicable local laws and regulations. By accessing each site, the entrant has agreed that he/she has reviewed the site in its entirety including any legal or regulatory rubric.

To the best of its knowledge and belief, SAMHK considers the information contained herein is accurate as at the date of publication. However, no warranty is given on the accuracy, adequacy or completeness of the information provided by third party. Neither SAMHK, nor its affiliates, directors and employees assumes any liabilities in respect of any errors or omissions provided by third party on this website. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Investors should note investment involves risk. The price of units may go down as well as up and past performance is not indicative of future results. Investors should read the prospectus for details and risk factors in particular those associated with investment in emerging markets and the arrangement in the event that the Funds are delisted. Investors should also note that the Funds are different from a typical retail investment funds, in particular, units in the Funds may only be created or redeemed directly by a participating dealer in large unit sizes.

Information in this website has been obtained from sources believed to be reliable but SAMHK does not guarantee the accuracy or completeness of the information provided by third parties.

This website has not been reviewed by the Securities and Futures Commission of Hong Kong. Issuer: Sensible Asset Management Hong Kong Limited 盛寶資產管理香港有限公司.

The information provided herein is for informational purposes only and is not intended to provide professional advice and should not be relied upon in that regard. Persons accessing these pages are advised to obtain appropriate professional advice where necessary. Information posted on this site is current only as at the date of posting and may no longer be true or complete when viewed by you. All information contained herein may be changed or amended without prior notice, although SAMHK does not undertake to update this site regularly.

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Failure to supply such data may result in SAMHK being unable to provide investment management and advisory services.

Personal data collected from you may be used by SAMHK within or outside Hong Kong, for the purposes of providing investment management and advisory services and direct marketing. The usage of the personal data may depend upon your relationship with SAMHK, which include but not limited to:

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SAMHK intends to use your personal data in direct marketing and SAMHK requires your consent (which includes an indication of no objection) for that purpose. In this connection, your name, contact details, held by SAMHK from time to time may be used by SAMHK in direct marketing of financial services or products offered by SAMHK or co-branded partners.

Pursuant to the Ordinance, you have the right to (a) check whether SAMHK holds any personal data about you, and to access such data, at a reasonable fee, (b) request any inaccurate personal data to be corrected, (c) ascertain SAMHK policies and practices relating to personal data, including the type of personal data SAMHK holds and the main purpose for holding such data and (d) exercise your opt-out right if you do not wish SAMHK to use your personal data for direct marketing purposes. All such requests should be directed to:

The Compliance Officer

Sensible Asset Management Hong Kong Limited

9th Floor, Nexxus Building,

41 Connaught Road Central, Hong Kong

Email: operations@valueETF.com.hk

Fund performance (from 19-08-2016 to 21-08-2017)

1 The near real time estimated net asset value ("NAV") per unit in HKD is calculated using the near real time estimated NAV per unit in RMB multiplied by a near real time foreign exchange rate (CNH:HKD) quoted by Interactive Data. The near real time estimated NAV and exchange rate are only updated during the trading hours of SEHK and they are indicative and for reference purpose only. Since the near real time estimated NAV per unit in RMB will not be updated when the underlying A-share market is closed, the change in the near real time estimated NAV per unit in HKD (if any) during such period is solely due to the change in the near real time foreign exchange rate.

 

2 FTSE Value-Stocks China A-Share Index (“Index”). The FTSE Value-Stocks Indices (Indices) are total return indices. The units of the Funds are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE"), the London Stock Exchange Plc (the “Exchange”), the Financial Times Limited (“FT”) or Value Partners Index Services Limited (VPISL). Neither FTSE, the Exchange, FT nor VPISL make any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Indices and/or the figure at which the Indices stand at any particular time on any particular day or otherwise. The Indices compiled and calculated by FTSE and designed by VPISL. However, neither FTSE nor Exchange nor FT nor VPISL shall be liable (whether in negligence or otherwise) to any person for any error in the Indices and neither FTSE nor the Exchange nor the FT nor VPISL shall be under any obligation to advise any person of any error therein. “FTSE®”, “FT-SE®” and “Footsie®” are trademarks of the Exchange and the FT and are used by FTSE under licence.

 

3 For details on "Fees and Expenses", please refer to the Fund's prospectus.

 

4 The figure is calculated based on the latest interim result, annualized to a 12-month period.

 

5 The Manager shall publish details of dividend declaration dates and amount, ex-dividend dates and dividend payment dates via the website of HKEx (www.hkex.com.hk). While the manager intends to declare and pay dividends on a semi-annual basis, there is no guarantee that such dividends will be made nor will there be a target level of dividend payout.

 

Source: HSBC Institutional Trust Services (Asia) Limited.

 

Delayed data as shown on the Hong Kong Website (the “data”) are provided by the data provider Interactive Data. Interactive Data and HKEx Information Services Limited, and their respective holding companies and/or any subsidiaries of such holding companies, do not guarantee the accuracy or reliability of the data provided and accept no liability (whether in tort or contract or otherwise) for any loss or damage you may suffer or incur arising out of or in connection with your use of the data, including loss or damage which arises out of the data being inaccurate, incomplete or delayed, and however such loss or damage arises. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.

 

Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the funds and its’ share classes increased or decreased in value during the calendar year. Performance data has been calculated in currencies displayed above, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance.

 

Investment involves risks. Please refer to the relevant offering documents for further fund details including risk factors and the arrangement in the event that the Fund is delisted. Investors should also note that the Funds are different from typical investment funds, in particular, units in the Funds may only be created or redeemed directly by a participating dealer in large unit sizes. This website is issued by Sensible Asset Management Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.

Historical data - Distribution record 1
Ex-date Payable dateDividend (RMB$ per unit)Yield 2 (%)Dividend paid out of net distributable income 3Dividend “effectively” paid out of capital 4
06-12-201629-12-20160.182.974%26%
04-12-201529-12-20150.131.955%45%

1 Warning: Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the table below. You should read the relevant offering document (including the key facts statement) of the Fund for further details including the risk factors.

2 Yield is calculated based on the dividend per unit divided by the ex-date NAV per unit. It is for reference only and does not represent the performance of the Fund. All dollar amounts are in RMB unless otherwise stated.

3 The net distributable income is the net investment income (i.e. may include realised net gains, dividend income and interest income net of fees and expenses) based on unaudited management accounts.

4 The Fund pays dividend out of gross income while charging/paying all or part of the Fund’s fees and expenses to/out of the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividend out of capital.

  • Overview
  • Key Features
  • Performance
  • Composition
  • Documents

DisplayHide important notes
  • Value China A-Share ETF (the “Fund”) is a physical index-tracking fund which aims to provide investment results, before fees and expenses, that closely correspond to the performance of the FTSE Value-Stocks China A-Share Index (“Index”).
  • The Fund invests directly in A-Shares included in the Index through the Renminbi Qualified Foreign Institutional Investors (RQFII) investment quota granted to the Manager and the Shanghai-Hong Kong Stock Connect. Investors will be subject to certain risks including repatriation risk, custodial risk, broker risk, regulatory risk and risks associated with the Manager’s RQFII status. In addition, the RQFII policy and rules are relatively new and there may be uncertainty in implementation and such policy and rules are subject to change. All these may adversely impact the Fund.
  • The Fund and its primary investments are denominated in RMB. RMB is currently not a freely convertible currency and is subject to foreign exchange control policies, as well as repatriation restrictions imposed by the PRC government. Investors whose base currencies of investments are not in RMB should take into account the potential risk of loss arising from fluctuations in value between such currencies and the RMB.
  • The Fund is subject to emerging market risks. Generally, investments in emerging markets are subject to a greater risk of loss than investments in a developed market due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity etc.
  • The Fund is also subject to concentration risk as a result of investing only in a single geographical region. Adverse developments in such region may affect the value of the underlying securities in which the Fund invests.
  • The Fund has dual counter traded units which are traded and settled in both RMB and HKD. The nature of the dual counter may make investment in the units riskier than in single counter units or shares of an SEHK listed issuer. Investors without RMB accounts may buy and sell HKD traded units only.
  • There is no assurance that Fund will pay dividends. The Manager may at its discretion pay dividends out of the capital of the Fund or pay dividend out of gross income while all or part of the fees and expenses of the Fund are charged to/paid out of the capital of the Fund. Dividends effectively paid out of capital amount to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Such distribution involving payment of dividends out of the capital may result in an immediate reduction of the Fund’s net asset value per Unit.
  • The Index may experience periods of volatility and decline and the price of units of the Fund is likely to vary or decline accordingly. As the Fund is not "actively managed", the Manager will not adopt a temporary defensive position against any market downturn. Investors may lose part or all of their investment.
  • The units are traded on the Stock Exchange of Hong Kong Limited (“SEHK”). Trading prices of units on the SEHK are subject to market forces and the units may trade at a substantial premium/discount to the net asset value of the Fund.
  • An affiliated company of the Manager and the Investment Adviser of the Fund assists with the compilation of the Index and accordingly potential conflicts of interests may arise.
  • You should not make investment decision on the basis of this website alone. Please read the prospectus for details and risk factors.
Hide

HKEX share price

HKD7.92

RMB6.75

Daily change (+HKD0.05; +0.64%)
(N/A; N/A)
(+RMB0.03; +0.45%)

Last update: 22-08-2017 16:00:00

Source: Interactive Data (Hong Kong) Limited

Data are delayed at least 15 minutes.

Estimated NAV1

HKD7.9472

RMB6.7682

Daily change (+HKD0.0572; +0.72%)
(+RMB0.0282; +0.42%)

Last update: 22-08-2017 16:00:00

Source: Interactive Data (Hong Kong) Limited

Data are delayed at least 5 to 15 seconds.

Investment objective

To provide investment results (before fees and expenses) that closely correspond to the performance of the FTSE Value-Stocks China A-Share Index.

Fund information

      • Fund launch date
        • 20 March 2015
      • Listing date
        • 24 March 2015
      • Underlying index
        • FTSE Value-Stocks China A-Share Index 2
      • Manager and RQFII holder
        • Value Partners Hong Kong Limited
      • Investment adviser
        • Sensible Asset Management Hong Kong Limited
      • Trustee and registrar
        • HSBC Institutional Trust Services (Asia) Limited
      • Custodian
        • The Hongkong and Shanghai Banking Corporation Limited
      • PRC custodian
        • HSBC Bank (China) Company Limited
      • Auditor
        • Ernst & Young
      • Participating dealers
        • BNP Paribas Securities Services
        • China Merchants Securities (HK) Co., Ltd.
        • China International Capital Corporation Hong Kong Securities Limited
        • Credit Suisse Securities (Hong Kong) Limited
        • Goldman Sachs (Asia) Securities Limited
        • Guotai Junan Securities (Hong Kong) Limited
        • Merrill Lynch Far East Ltd.
        • The Hongkong and Shanghai Banking Corporation Limited
      • Market makers
        • China Merchants Securities (HK) Co., Ltd.
        • Commerz Securities Hong Kong Limited
        • Guotai Junan Securities (Hong Kong) Limited
        • Haitong International Securities Company Limited
        • HSBC Securities Brokers (Asia) Limited
      • Exchange listing
        • The Stock Exchange of Hong Kong Limited
          - Main Board
      • Management fee 3
        • 0.10% p.a.
      • Ongoing charges 4
        • 1.52% as of 30-09-2016
      • Dividend policy 5
        • Aims to make distributions semiannually in March and September (if any), subject to the Manager’s discretion.
      • Exchange ticker
        • 3095 HK - HKD counter
          83095 HK - RMB counter
      • Bloomberg ticker
        • 3095 HK Equity - HKD counter
          83095 HK Equity - RMB counter
      • Trading board lot size
        • 500 units - HKD counter
          500 units - RMB counter
      • Application unit size
        • Minimum 500,000 units (or multiples thereof)
      • Fund base currency
        • Renminbi
      • Trading currency
        • Hong Kong Dollar - HKD counter
          Renminbi - RMB counter
      • Investment strategy
        • Full replication
      • Financial year end
        • 31 March
Industry exposure (as of 21-08-2017)
ICB Industry Weighting
Financials76%
Industrials9%
Consumer Goods7%
Others5%
Health Care2%
JavaScript chart by amCharts 3.11.2JS chart by amCharts
Holdings (top five as of 21-08-2017)
Ticker Name ICB sector Weighting
600036 CHChina Merchants Bank Co., Ltd.Banks10.0%
601166 CHIndustrial Bank Co., Ltd.Banks7.8%
600016 CHChina Minsheng Banking Co., Ltd.Banks6.4%
600000 CHShanghai Pudong Development Bank Co., Ltd.Banks5.8%
600030 CHCITIC Securities Company LimitedFinancial Services4.4%

1 The near real time estimated net asset value ("NAV") per unit in HKD is calculated using the near real time estimated NAV per unit in RMB multiplied by a near real time foreign exchange rate (CNH:HKD) quoted by Interactive Data. The near real time estimated NAV and exchange rate are only updated during the trading hours of SEHK and they are indicative and for reference purpose only. Since the near real time estimated NAV per unit in RMB will not be updated when the underlying A-share market is closed, the change in the near real time estimated NAV per unit in HKD (if any) during such period is solely due to the change in the near real time foreign exchange rate.

 

2 FTSE Value-Stocks China A-Share Index (“Index”). The FTSE Value-Stocks Indices (Indices) are total return indices. The units of the Funds are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE"), the London Stock Exchange Plc (the “Exchange”), the Financial Times Limited (“FT”) or Value Partners Index Services Limited (VPISL). Neither FTSE, the Exchange, FT nor VPISL make any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Indices and/or the figure at which the Indices stand at any particular time on any particular day or otherwise. The Indices compiled and calculated by FTSE and designed by VPISL. However, neither FTSE nor Exchange nor FT nor VPISL shall be liable (whether in negligence or otherwise) to any person for any error in the Indices and neither FTSE nor the Exchange nor the FT nor VPISL shall be under any obligation to advise any person of any error therein. “FTSE®”, “FT-SE®” and “Footsie®” are trademarks of the Exchange and the FT and are used by FTSE under licence.

 

3 For details on "Fees and Expenses", please refer to the Fund's prospectus.

 

4 The figure is calculated based on the latest interim result, annualized to a 12-month period.

 

5 The Manager shall publish details of dividend declaration dates and amount, ex-dividend dates and dividend payment dates via the website of HKEx (www.hkex.com.hk). While the manager intends to declare and pay dividends on a semi-annual basis, there is no guarantee that such dividends will be made nor will there be a target level of dividend payout.

 

Source: HSBC Institutional Trust Services (Asia) Limited.

 

Delayed data as shown on the Hong Kong Website (the “data”) are provided by the data provider Interactive Data. Interactive Data and HKEx Information Services Limited, and their respective holding companies and/or any subsidiaries of such holding companies, do not guarantee the accuracy or reliability of the data provided and accept no liability (whether in tort or contract or otherwise) for any loss or damage you may suffer or incur arising out of or in connection with your use of the data, including loss or damage which arises out of the data being inaccurate, incomplete or delayed, and however such loss or damage arises. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.

 

Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the funds and its’ share classes increased or decreased in value during the calendar year. Performance data has been calculated in currencies displayed above, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance.

 

Investment involves risks. Please refer to the relevant offering documents for further fund details including risk factors and the arrangement in the event that the Fund is delisted. Investors should also note that the Funds are different from typical investment funds, in particular, units in the Funds may only be created or redeemed directly by a participating dealer in large unit sizes. This website is issued by Sensible Asset Management Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.

Investable Universe:
Actively traded China A Shares listed on the
Shanghai Stock Exchange and
Shenzhen Stock Exchange

Valuation
screening
To identify
under-valued stocks, based on
dividend yield
(The lowest ranked companies will be screened out)
Quality
Screening
  • To avoid cheap but low-quality stocks, based on return on equity, operating profit margin and net gearing

    (The lowest ranked companies will be screened out)
Contrarian
screening
Not blindly following the market trends nor over reliance on analysts' opinions

(Companies with consensus buy will be screened out)
50 stocks that are most attractive according to screening method and have the lowest P/E ratio will be selected
FTSE Value-Stocks China A-share Index 1

1 FTSE Value-Stocks China A-Share Index (“Index”). The FTSE Value-Stocks Indices (Indices) are total return indices. The units of the Funds are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE"), the London Stock Exchange Plc (the “Exchange”), the Financial Times Limited (“FT”) or Value Partners Index Services Limited (VPISL). Neither FTSE, the Exchange, FT nor VPISL make any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Indices and/or the figure at which the Indices stand at any particular time on any particular day or otherwise. The Indices compiled and calculated by FTSE and designed by VPISL. However, neither FTSE nor Exchange nor FT nor VPISL shall be liable (whether in negligence or otherwise) to any person for any error in the Indices and neither FTSE nor the Exchange nor the FT nor VPISL shall be under any obligation to advise any person of any error therein. “FTSE®”, “FT-SE®” and “Footsie®” are trademarks of the Exchange and the FT and are used by FTSE under licence.

 

Investment involves risks. Please refer to the relevant offering documents for further fund details including risk factors and the arrangement in the event that the Fund is delisted. Investors should also note that the Funds are different from typical investment funds, in particular, units in the Funds may only be created or redeemed directly by a participating dealer in large unit sizes. This website is issued by Sensible Asset Management Hong Kong Limited and has not been reviewed by the Securities and Futures Commission.

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