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Mirae Asset Horizons MSCI China ETF (Stock Code: 3040)

Important information about Mirae Asset Horizons MSCI China ETF

  • Mirae Asset Horizons MSCI China ETF (the “Fund”) is an exchange traded fund and seeks to provide investment results that, before deduction of fees and expenses, closely correspond to the performance of the MSCI China Index (the "Underlying Index"). The Fund is an investment fund. There is no guarantee of the repayment of principal. Therefore your investment in the Fund may suffer losses.
  • The Fund has a portfolio investing in companies whose operations are primarily in the PRC and therefore is subject to emerging market risks. Generally, investment in emerging markets such as the PRC are subject to a greater risk of loss than investing in a developed market due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity.
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region i.e. PRC. The Fund may be more volatile than a broad-based fund, such as a global equity fund, as it is more susceptible to fluctuations in value of the Underlying Index resulting from adverse conditions in the PRC. The weighting of the Underlying Index is concentrated on a small number of constituents of the Underlying Index, in which case, the Underlying Index would be more easily affected by the price movements of a small number of index constituents than an index which is more broadly based.
  • The Fund is not “actively managed”, therefore when there is a decline in the Underlying Index, the Fund will also decrease in value. Mirae Asset Global Investments (Hong Kong) Limited (“the Manager”) will not adopt any temporary defensive positions against any market downturn. Investors may lose part or all of their investment.
  • Generally, retail investors can only buy or sell units of the Fund (”Units”) on the Stock Exchange of Hong Kong Limited (“HKEx”). The trading price of the Units on the HKEx is driven by market factors, such as demand and supply of the Units. Therefore the Units may trade at a substantial premium or discount to its net asset value (”NAV”).
  • Due to fees and expenses of the Fund, liquidity of the market and changes to the regulatory policies, the Fund’s return may deviate from that of the Underlying Index.
  • Dividend distributions are not guaranteed, and therefore, investors may not receive any dividends from the Fund.
  • Investment involves risk. Investors may lose part or all of their investment. Investors should not base on this website alone to make investment decisions. Before making any investment decision, prospective investor should read the Fund’s offering documents, which is available on this website, carefully for further details, including the product features and risk factors, and should consider seeking independent professional advice. The contents of this website is prepared and maintained by the Manager and has not been reviewed by the Securities and Futures Commission of Hong Kong (”SFC”).

All dollar amounts are in HKD and all dates are in GMT+8 Time, unless otherwise specified.

Fund objective and investment strategy

The Fund seeks to provide investment results that, before deduction of fees and expenses, closely correspond to the performance of the Underlying Index.

The Manager intends to invest all, or substantially all, of the assets of the Fund directly in substantially all securities constituting the Underlying Index in substantially the same weightings as these securities have in the Underlying Index to achieve the investment objective of the Fund (“Replication Strategy”).

Where the adoption of a Replication Strategy is not efficient or practicable or is otherwise at the Manager’s absolute discretion, the Manager may hold a representative sample of the constituent securities of the Underlying Index selected by the Manager using quantitative analytical models to derive a portfolio sample ("Representative Sampling Strategy"). Investors should note that the Manager may switch between the Replication Strategy and the Representative Sampling Strategy without prior notice to investors, in its absolute discretion.

The Manager has no intention to invest in financial derivatives instruments (or to adopt a synthetic replication strategy) nor to engage in securities lending or repurchase transactions in respect of the Fund. Any change in the Manager’s intention to enter into any of the above transactions in respect of the Fund is subject to prior approval of the SFC and not less than one month’s prior notice (or such other notice period as agreed with the SFC) will be given to unitholders should there be a change in such intention.

The Fund will not invest in A-shares.

Estimated NAV per Unit [1]

--
$ --
--
$ --

Daily NAV per Unit [3] as of 23 Mar 2017

NAV
$ 25.71
Change ($)
$ 0.00
Change (%)
0.16%

Fund information as of 23 Mar 2017

Fund Inception Date
11 Jun 2013
Listing date on the HKEx
17 Jun 2013
Financial year end of the Fund
Ending 31 Mar each year
Ongoing charges over a year
0.38% per annum of NAV [7]
Management Fee
Up to 0.049% per annum of the NAV accrued daily and calculated as at each Dealing Day.
Distribution Frequency
Annually at the Manager's discretion (May in each year)

Index information [4] as of 23 Mar 2017

Underlying Index
MSCI China Index
Index Provider
MSCI Inc.
Type of Index
Net total return
Base currency
HKD
Closing Level
446.15
Change
0.78
Change %
0.18%

Trading information

Exchange
Hong Kong Stock Exchange
Stock Code
3040
ISIN
HK0000151925
Board Lot Size
100 Units
Trading Currency
HKD
Total NAV
$ 694,270,987.23
Outstanding Units
27,000,000

Top 10 holdings as of 23 Mar 2017

13.65%
TENCENT HOLDINGS LTD TENCENT HOLDINGS LTD
10.16%
ALIBABA GROUP HOLDING-SP ADR BABA
5.80%
CHINA CONSTRUCTION BANK-H 'H'CNY1
5.77%
CHINA MOBILE LTD HKD0.10
4.11%
IND & COMM BK OF CHINA-H 'H'CNY1
3.86%
BAIDU INC - SPON ADR SPONS ADS REPR 0.10 ORD CLS'A'US0.00005
3.37%
BANK OF CHINA LTD-H 'H'HKD1
2.45%
PING AN INSURANCE GROUP CO-H 'H'CNY1
1.95%
CHINA LIFE INSURANCE CO-H 'H'CNY1
1.90%
NETEASE INC-ADR ADR EACH REPR 25 COM STK USD0.0001

As a percentage of NAV

View all holdings

Participating dealers [5]

  • ABN AMRO Clearing Hong Kong Limited
  • BNP Paribas Securities Services
  • CIMB Securities Limited
  • Goldman Sachs (Asia) Securities Limited
  • Guotai Junan Securities (Hong Kong) Limited
  • Macquarie Bank Limited
  • Merrill Lynch Far East Limited
  • Mirae Asset Wealth Management (HK) Limited
  • Nomura International (Hong Kong) Limited
  • SG Securities (HK) Limited
  • Shenwan Hongyuan Securities (H.K.) Limited
  • UBS Securities Hong Kong Limited

Market makers [6]

  • Bluefin HK Limited
  • BNP Paribas Securities (Asia) Limited
  • Commerz Securities Hong Kong Limited
  • Merrill Lynch Far East Limited
  • Shenwan Hongyuan Securities (H.K.) Limited
[1]
Estimated NAV per unit is indicative only and is provided on a 15-second delayed basis by Interactive Data Managed Solutions. (See terms and conditions) and is updated during trading hours of the HKEx.
[2]
Market prices are provided on a 15-minute delayed basis by Interactive Data Managed Solutions. (See terms and conditions)
[3]
Performance is calculated on NAV to NAV basis in HKD. Change indicates the change since the previous business day. For more information on calculation of NAV, please refer to the Prospectus.
[4]
Index returns are for illustrative purposes only and should not be taken as an indication or guarantee of future performance. Management fees, transaction costs or other expenses are not reflected in index returns. Change indicates the change since the previous business day’s closing index level. (Source: MSCI Inc.).
[5]
Additional Participating Dealer(s) will be appointed from time to time.
[6]
Additional Market Maker(s) will be appointed from time to time.
[7]
The ongoing charges figure is an annualised figure based on expenses reported in the Sub-Fund’s audited financial statements for the years ended 31 March 2016, expressed as a percentage of the Sub-Fund’s average net asset value over the same period. This figure may vary from year to year. It does not include any extraordinary expenses.

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