For investors in Hong Kong

Horizon China Opportunities Fund

An actively managed equity fund seeking to deliver long-term capital growth from the dynamic and evolving Chinese economy

ISIN
LU0327786827

NAV
USD 16.27
As of 2023/03/24

1-Day Change
USD -0.06 (-0.37%)
 As of 2023/03/24

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 and interest rate risks.

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  • In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments 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's investments are concentrated in China and Hong Kong and may be more volatile.
  • The Fund may invest in emerging markets, China A-Shares/ China A-Share access products and may be more volatile, subject to risks of investing in China securities and the Stock Connect Programs.
  • 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 capital growth over the long term.

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The Fund invests at least 80% of its assets in a concentrated portfolio of shares (equities) and equity-related securities of companies, of any size, in any industry, in China or Hong Kong. Companies will have their registered office in or do most of their business (directly or through subsidiaries) in this region. The Fund may invest in derivatives (complex financial instruments) and also up to 50% of its assets in China A Shares.

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ABOUT THIS FUND

  • A diversified portfolio designed to capture investment opportunities as political, economic, social, and technological forces drive the maturation of the Chinese economy
  • Fundamental research is channelled through a robust, proven investment process focused on company-specific analysis
  • With combined investment experience of more than 30 years, the team’s deep knowledge of Chinese equities enables them to identify mispriced opportunities

PORTFOLIO MANAGEMENT

May Ling Wee, CFA

May Ling Wee, CFA

Portfolio Manager

Industry since 1997. Joined Firm in 2015.

Performance

Discrete Performance (%)
As of 2022/12/31
A1 USD
 
Quarter End
As of 2022/12/31 		Dec-2021 - Dec-2022 Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018
A1 USD -25.75 -19.39 29.31 25.87 -24.92
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Cumulative Performance (%)
As of 2023/02/28
A1 USD
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
2008/01/25
A1 USD -11.76 4.72 -4.99 -2.47 -22.71 -20.59 -32.44 63.09
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2022/12/31
A1 USD
2022 2021 2020 2019 2018
A1 USD -25.75 -19.39 29.31 25.87 -24.92
Calendar Year Returns (%)
Year A1 USD Index
2022 -25.75 -19.04
2021 -19.39 -18.19
2020 29.31 30.62
2019 25.87 23.46
2018 -24.92 -18.88
2017 52.01 54.07
2016 0.47 0.90
2015 0.27 -7.82
2014 8.49 7.96
2013 16.00 3.64
2012 26.04 23.84
2011 -31.95 -18.36
2010 1.02 13.60
2009 125.18 67.12
2008 from 25/01/2008 -39.20 -43.09
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 2022/06/30) 		1.88%
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 2023/02/28)
% of Fund
Tencent 9.63
Alibaba Group 7.79
AIA Group 7.72
China Merchants Bank 3.61
Li Ning 3.32
Yum China 3.23
Wuliangye Yibin 3.10
Kweichow Moutai 3.09
PDD 3.03
Ping An Insurance Group Co of China 3.02
Portfolio holdings are subject to change without notice. 

Documents

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