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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.
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Value China ETF and Value China A-Share ETF

  • Value China ETF and Value China A-Share 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 and FTSE Value-Stocks China A-Share Index respectively.
  • Value China ETF and Value China A-Share 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.

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When providing services to our clients and other parties, Sensible Asset Management Hong Kong Limited and its affiliates (collectively “SAMHK”, “the Company”) may from time to time require you to supply your personal data for the purposes of opening or continuing portfolio accounts and in the establishment or continuation of investment management and advisory services by the Company.

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The Compliance Officer

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99 Queen's Road Central, Hong Kong

Email: operations@valueETF.com.hk

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  • 下半年不確定因素多利金價突破 (Chinese only)

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下半年不確定因素多利金價突破 (Chinese only)

踏入下半年,美國新冠肺炎疫情隨着多個州份重啟經濟而惡化,新確診人數在7月突破每日6萬宗後未見回落,反而持續急升,本月已有兩天超過每日7萬宗新增確診個案,投資者擔心美國或會再度封城,加上美中關係惡化,令經濟前景不確定,縱使美股維持反彈勢頭,納指更續創歷史新高,但完全無礙金價升勢。

 

北美黃金ETF流入最多

 

世界黃金協會最新公布的6月份數據顯示,資金連續第7個月流入黃金ETF,單在6月份淨流入金額約為56億美元,相當於104噸黃金,令全球黃金ETF總持倉量升至3621噸歷史新高。在今年上半年,地區劃分以北美流入黃金ETF的資金最多,接近250億美元,升幅23.11%;其次為歐洲,合共逾125億美元流入,升幅14.12%;亞洲地區的升幅雖為21.17%,但流入金額僅約12.3億美元,全球今年上半年黃金ETF合共淨增加了734噸黃金,大約相當於395億美元。

另外,全球黃金ETF在6月份新增兩名新成員,分別是中國市場的China AMC及沙地阿拉伯的Albilad Gold ETF,兩者目前暫時持有0.5噸及0.7噸黃金,大約相當於2800億及4200億美元。由此可見,黃金ETF目前仍是推動金價持續上升的主要動力。現貨金價在7月7日突破每盎斯1790美元後明顯已守穩該位。事實上,金價早在6月22日以裂口高開於1748美元水平,當天最終收報1755美元,為2012年10月11日以來最高收市價,其後持續走高。SPDR黃金ETF亦見於6月20日大幅增加23.09噸黃金,是2019年6月22日以來最多,反映金價走高已有跡可尋。

 

短期或上破1810美元

 

目前金價站穩在1800美元水平,而自7月8日以來金價則維持在1790至1810美元之間波動,形成短期橫行整固形態。由於期間金價不斷挑戰1810美元,每次皆可升破該位,由此推斷,金價很可能在短期內上破1810美元,簡單量度上升目標為1830美元,進一步縮短與歷史高位1920美元的差距。由於下半年不確定性因素眾多,例如疫情第二波爆發、美中關係惡化、美國11月大選,以及英國有可能在今年底硬脫歐,都有可能成為避險資金流入金市的原因,加上目前全球央行繼續放水並維持超低息環境,相信金價有較高機會再創新高。

 

投資涉及風險,往績不代表將來表現。以上資料僅供參考,並不構成任何投資建議。本文提供之意見純屬盛寶資產管理香港有限公司(「盛寶」)之觀點,會因市場及其他情況而改變。以上資料並不構成任何投資建議,亦不應視作投資決策之依據。所有資料是搜集自被認為是可靠的來源,但盛寶不保證資料的準確性。本文包含之部分陳述可能被視為前瞻性陳述,此等陳述不保證任何將來表現,實際情況或發展可能與該等陳述有重大落差。投資者應注意投資涉及風險,基金單位價格可升亦可跌,基金過往業績並不表示將來的回報。投資者應參閱本基金之章程,以了解基金詳情及風險因素,並應特別了解如本基金從聯交所除牌之安排。基金章程可通過網頁獲得。投資者亦應注意,本基金與典型零售投資基金不同,只可以由參與證券商直接以大額增設或贖回基金單位。本文件並未經證監會審閱。刊發人:盛寶資產管理香港有限公司。

 

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