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Mirae Asset Horizons S&P Emerging Asia Consumer ETF (Stock Code: 3054)

Important information about Mirae Asset Horizons S&P Emerging Asia Consumer ETF

  • Mirae Asset Horizons S&P Emerging Asia Consumer 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 S&P Emerging Asia Consumer 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 performance of companies active in the consumer discretionary sector are correlated to the growth rate of the Asian market, individual income levels and their impact on levels of domestic consumer spending, which in turn depend on the worldwide economic conditions, which have recently deteriorated significantly and may remain depressed for the foreseeable future. Any future slowdowns or declines in the Asian emerging markets economy or consumer spending may materially and adversely affect the performance of the Fund.
  • Companies in the consumer staples sector are subject to government regulation. There are many factors affecting the level of consumer spending, including but not limited to interest rates, currency exchange rates, economic growth rate, inflation, deflation, political uncertainty, taxation, stock market performance, unemployment level and general consumer confidence.
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region (Asia). The Fund may likely 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 Asia.
  • As the Underlying Index relates to Asian emerging markets, the Fund is subject to a greater risk of loss compared with investments in developed markets due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity.
  • 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, foreign exchange costs, and changes to the regulatory policies, the Fund’s return may deviate from that of the Underlying Index.
  • The market prices of underlying securities listed on stock exchanges which are established outside Hong Kong may not be available during part or all of the HKEx trading sessions due to trading hour differences which may result in the Fund’s trading price deviating away from the NAV.
  • 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 (available on www.miraeasset.com.hk) carefully for further details, including the product features and risk factors, and should consider seeking independent professional advice. The contents of the afore-mentioned 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]

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$ --
--
$ --

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

NAV
$ 21.49
Change ($)
$ 0.00
Change (%)
0.51%

Fund information as of 23 Mar 2017

Fund Inception Date
18 Jan 2012
Listing date on the HKEx
27 Jan 2012
Financial year end of the Fund
Ending 31 Mar each year
Ongoing charges over a year
0.90% per annum of NAV [7]
Management Fee
Up to 0.45% 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
S&P Emerging Asia Consumer Index
Index Provider
Standard & Poor’s
Type of Index
Net total return
Base currency
HKD
Closing Level
2,221.54
Change
11.94
Change %
0.54%

Trading information

Exchange
Hong Kong Stock Exchange
Stock Code
3054
ISIN
HK0000096567
Board Lot Size
500 Units
Trading Currency
HKD
Total NAV
$ 38,683,364.16
Outstanding Units
1,800,000

Top 10 holdings as of 23 Mar 2017

10.64%
ITC LTD INR1
7.03%
ASTRA INTERNATIONAL TBK PT
6.69%
MARUTI SUZUKI INDIA LTD INR5
4.86%
UNI-PRESIDENT ENTERPRISES CO TWD10
4.85%
CP ALL PCL
4.29%
GEELY AUTOMOBILE HOLDINGS LT HKD0.02
3.60%
HERO MOTOCORP LTD
3.25%
BAJAJ AUTO LIMITED INR10
3.21%
THAI BEVERAGE PCL THB1
3.12%
WH GROUP LTD 288

As a percentage of NAV

View all holdings

Participating dealers [5]

  • ABN AMRO Clearing Hong Kong Limited
  • Credit Suisse Securities (Hong Kong) Limited
  • Goldman Sachs (Asia) Securities Limited
  • Guotai Junan Securities (Hong Kong) Limited
  • Mirae Asset Wealth Management (HK) Limited
  • Shenwan Hongyuan Securities (H.K.) Limited

Market makers [6]

  • Commerz Securities Hong Kong Limited
[1]
Estimated NAV is indicative only and is provided on a delayed basis by Interactive Data Managed Solutions. (See terms and conditions)
[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 Net Asset Value, 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: Standard & Poor's). Exchange rate as of 4:00pm, London time (Source: WM Reuters).
[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 year 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 includes the amortised portion of the set-up costs of the Sub-Fund applicable to the relevant period but excludes any extraordinary expenses.

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