For investors in Hong Kong

Horizon Asian Dividend Income Fund

Aims to capture the income and capital growth potential of companies in Asia, one of the world’s fastest-growing regions

ISIN
LU0572940350

NAV
SGD 9.38
As of 2024/04/18

1-Day Change
SGD 0.06 (0.64%)
As of 2024/04/18

Key investment risks:

The Fund's investments in equities are subject to equity securities risk due to fluctuation of securities values.
Investments in the Fund involve general investment, currency, liquidity, hedging, market, economic, political, regulatory, taxation, securities lending related, reverse repurchase transactions related, financial, interest rate and benchmark

risks. In extreme market conditions, you may lose your entire investment.
The Fund may invest in financial derivatives instruments to generate additional income, to reduce risk and to manage the Fund more efficiently. This may involve counterparty, liquidity, leverage, volatility, valuation and over-the-counter transaction risks and the Fund may suffer significant losses.
The Fund may invest in emerging markets and the investments are concentrated in the Asia Pacific region (excluding Japan) which may be more volatile.
The directors may at its discretion pay distributions (i)out of gross investment income and net realised/ unrealised capital gains while charging all or part of the fees and expenses to the capital, resulting in an increase in distributable income for the payment of distributions and therefore, the Fund may effectively pay distributions out of capital; and (ii) additionally for sub-class 4 of the Fund, out of original capital invested. This amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment, and may result in an immediate reduction of the Fund’s net asset value per share.
The Fund may charge performance fees. An investor may be subject to such fee even if there is a loss in investment capital.
Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide an income in excess of the income generated by the MSCI All Countries Asia Pacific ex Japan High Dividend Yield Index over any 5 year period with the potential for capital growth over the long term.

The Fund invests at least two-thirds of its assets in equities or equity-related instruments of companies of any size, in any industry, in the Asia Pacific region (excluding Japan).

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ABOUT THIS FUND

Well placed to tap into the region’s strong structural growth opportunities and the shift toward a more progressive dividend culture
Disciplined, value-driven investment process that focuses on dividend growth and high-yielding companies
Aims to deliver consistent, growing income streams and long-term capital appreciation

Fund Details

Asset class	Equities
Product Structure	SICAV
Inception Date	26 Oct 2006
Base Currency	USD
Fund Assets As of 31/03/24	79.19M
Sector	Morningstar Asia-Pacific ex-Japan Equity
Benchmark	MSCI All Countries Asia Pacific Ex Japan High Dividend Yield Index
Year End	30-Jun
Pricing Basis	Single Priced

Share Class Facts


Distribution Type	Income Gross
ISIN	LU0572940350
Sedol Code	B437TG4
Lipper Code	65073388
WKN Code	A1JKS9
Valoren Code	3712215
Pay Dates	20-Oct 20-Jan 20-Apr 20-Jul
XD Dates	01-Oct 01-Jan 01-Apr 01-Jul
Inception Date	30 May 2007
Currency Code	SGD
Minimum Initial Investment	2,500.00
Minimum Top Up Amount	500.00

PORTFOLIO MANAGEMENT

Mike Kerley

Portfolio Manager

Industry since 1985. Joined Firm in 2004.

Sat Duhra

Portfolio Manager

Industry since 2000. Joined Firm in 2011.

Cumulative Performance (%)
As of 2024/03/31

A3q SGD

	Cumulative
	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception 2007/05/30
A3q SGD	2.64	5.38	11.62	5.38	8.96	-8.09	-1.57	38.24

Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.

Calendar Year Returns (%)
As of 2024/03/31

A3q SGD

	2023	2022	2021	2020	2019
A3q SGD	4.35	-13.44	0.83	-3.35	17.80

View full calendar year performance history

Calendar Year Returns (%)

Year	A3q SGD	Index
2023	4.35	15.65
2022	-13.44	-9.39
2021	0.83	8.78
2020	-3.35	-0.39
2019	17.80	13.05
2018	-10.04	-9.25
2017	18.74	26.72
2016	3.73	8.72
2015	-4.28	-2.76
2014	6.79	8.20
2013	10.03	7.14
2012	17.59	15.52
2011	-12.24	-14.35
2010	3.42	8.05
2009	50.19	69.22
2008	-40.56	-51.58
2007 from 30/05/2007	6.54	15.23

Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.

FEE INFORMATION


Initial Charge	5.00%
Annual Charge	1.20%
Ongoing Charge (As of 2023/06/30)	1.93%
Performance Fee	10% of the 'Relevant Amount'
Hurdle Rate	MSCI AC Asia Pacific ex Japan High Dividend Yield

The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.

Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2024/03/31)

	% of Fund
Taiwan Semiconductor Manufacturing	6.15
Samsung Electronics	4.78
MediaTek	3.50
Swire Properties	3.36
Midea Group	3.32
Samsonite International	3.18
DB Insurance	3.06
Bank Mandiri Persero	2.90
United Overseas Bank	2.75
Samsung Fire & Marine Insurance	2.75

Portfolio holdings are subject to change without notice.

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