Abstract: strong investment ability, able to strike a balance between income and liquidity, a good global allocation money fund
I. Fund managers
Dacheng International Asset Management Co., Ltd. was established in 2009, is a wholly-owned subsidiary of Dacheng Fund Management Co., Ltd. in Hong Kong, China, on behalf of Dacheng Fund to carry out diversified asset management services.
The fund is managed by Mr. Lam Chun-fai, a Master of Finance from the University of Hong Kong, a member of Dacheng International Investment decision Committee, Investment Director and Fund Manager. 12 years experience in securities industry, including American Express Co Bank, China Merchants Capital and Fenghui Financial Group, responsible for asset management and research.
II. Scope of investment
There is no specific area allocation. Countries or regions in which the fund is likely to invest include Hong Kong, mainland China, Singapore and the United States. The fund invests in short-term deposits and quality money market instruments denominated and settled in renminbi, Hong Kong dollars and US dollars issued by governments, semi-governments, international institutions and financial institutions ≥ 70%; the fund invests in emerging markets ≤ 30%; the total value of instruments and deposits held by the fund by a single entity is ≤ 10% (except in special circumstances) The fund will invest only in debt securities rated as investment grade or above by independent rating agencies such as Fitch, Moody's Corporation and Standard & Poor's.
III. Investment strategy
The Fund mainly invests (not less than 70% of its net asset value) in short-term deposits and high-quality money market instruments denominated and settled in US dollars issued by governments, semi-governments, international institutions and financial institutions.
IV. Historical achievements
From its inception on February 15, 2019 to September 25, 2019, the share of category I dollars has returned an annualized rate of 2.79%, according to Bloomberg. The share of category P dollars has an annualized rate of return of 2.24% from May 10, 2019 to September 25, 2019.
V. characteristics of investment portfolio
Most of the fund assets are allocated with bank deposits of different maturity, the risk is low, and a small number of high-rated and short-term bonds are allocated under strict risk control, so as to improve fund returns.
Source: 30 August 2019-monthly report of the Fund
The investment projects of the fund are allocated in different periods, and the overall remaining period is controlled at a relatively short level, taking into account both income and risk control:
Source: 30 August 2019-monthly report of the Fund
Conclusion: the fund makes a long-and short-term mismatch in the bond payback cycle, has a wide range of market choices, is not concentrated in a single market, and has a rich variety of investments, so it can take into account both income and liquidity.
This document is not and should not be regarded as the basis for soliciting, soliciting, inviting, recommending the sale or sale of any investment products or investment decisions, nor should it be interpreted as professional advice. Those who read this document or before making any investment decision should fully understand the risks and the characteristics and consequences of the relevant laws, taxes and accounting, and decide whether the investment is in line with their financial position and investment objectives according to their own circumstances, and whether it can withstand the relevant risks, and should seek appropriate professional advice if necessary.
Investment involves risks, and investors should carefully read the fund consultation and related documents (including its risk factors). Investors are advised to note that the prices of fund products can rise or fall, and may change substantially within a short period of time. Investors may not be able to get back the amount they have invested in the fund. The past performance of the fund does not predict future performance. If there are similar forward-looking statements in this document, such contents or statements shall not be regarded as guarantees of any future performance, and it should be noted that the actual situation or development may differ materially from such statements.