PIA HSBC Chinese Equity USD Ser B
Performance
Discrete performance - to last month end
| 30/06/19 to 30/06/20 |
30/06/20 to 30/06/21 |
30/06/21 to 30/06/22 |
30/06/22 to 30/06/23 |
30/06/23 to 30/06/24 |
|
|---|---|---|---|---|---|
| Fund | 14.9% | 30.5% | -31.2% | -19.1% | 2.7% |
| Sector | -9.7% | 39.3% | -24.2% | 4.2% | 9.3% |
| Rank | 2/268 | 234/280 | 189/282 | 267/285 | 198/293 |
| Quartile | 1 | 4 | 3 | 4 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/06/24 |
5 Years to 30/06/24 |
10 Years to 30/06/24 |
||
| Fund | -17.0% | -3.0% | 1.8% | |
| Sector | -4.8% | 1.7% | 1.0% | |
| Rank | 247/281 | 184/266 | 93/196 | |
| Quartile | 4 | 3 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| ALIBABA GROUP HOLDING LIMITED | 9.22 |
| TENCENT HOLDINGS LIMITED | 9.05 |
| PDD HOLDINGS INC | 5.70 |
| CHINA CONSTRUCTION BANK CORPORATION | 5.70 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 5.57 |
| NETEASE INC | 5.05 |
| NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP | 5.00 |
| KWEICHOW MOUTAI GROUP CO. LTD | 4.40 |
| CNOOC LIMITED | 4.31 |
| CHINA MOBILE LIMITED | 3.12 |
| Total | 57.13 |
Fund Aims
Objective: The investment strategy of the fund is to purchase units in the HSBC Chinese Equity Fund (USD) - the underlying fund.
Underlying Fund Objective: The fund aims to provide long term capital growth by investing in a portfolio of Chinese shares while promoting ESG characteristics within the meaning of Article 8 of SFDR. In normal market conditions, the Fund will invest at least 90% of its assets in shares (or securities similar to shares) of companies of any size that are based in, or carry out the larger part of their business activities in, China, including Hong Kong SAR. The Fund may invest up to 10% of its assets in other funds, including HSBC funds. The fund includes the identification and analysis of a company's ESG credentials as an integral part of the investment decision making process to reduce risk and enhance returns. ESG Credentials may include, but are not limited to: - environmental and social factors, including but not limited to physical risks of climate change and human capital management, that may have a material impact on a security issuer's financial performance and valuation. - corporate governance practices that protect minority investor interests and promote long term sustainable value creation. The fund will not invest in equities issued by companies with specified involvement in specific excluded activities including the production of controversial weapons or tobacco and companies with more than 10% revenue generated from thermal coal extraction or coal-fired power generation and having no clearly defined, credible plan to reduce exposure to below 10%. The fund may use derivatives for hedging or efficient portfolio management. The fund is denominated in US dollars.
Fund Manager
TBC
Fund Overview
| Bid (02/07/2024) | 2.56 |
| Offer (02/07/2024) | 2.70 |
| Fund size (31/05/2024) | $1.10m |
| Underlying Fund size | $580.96m |
| Number of holdings | 58 |
| Launch date | 28/10/2005 |
Fund Charges
| Annual Management Charge (AMC) | 1.70% |
| Further Costs | 0.40% |
| Yearly Total | 2.10% |
Asset Allocation
| International Equities | 95.04% | |
| Cash and Equivalents | 1.37% | |
| Other Assets | 3.59% |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 95.04% | |
| Cash and Equivalents | 1.37% | |
| Other Assets | 3.59% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 26.69% | - | - | - | |
| Technology | - | 26.69% | - | - | |
| Software & Computer Services | - | - | 18.12% | - | |
| Consumer Digital Services | - | - | - | 17.81% | |
| Software | - | - | - | 0.22% | |
| Computer Services | - | - | - | 0.09% | |
| Technology Hardware & Equipment | - | - | 8.57% | - | |
| Semiconductors | - | - | - | 7.60% | |
| Electronic Components | - | - | - | 0.97% | |
| Consumer Discretionary | 25.47% | - | - | - | |
| Consumer Products & Services | - | 11.33% | - | - | |
| Leisure Goods | - | - | 5.41% | - | |
| Electronic Entertainment | - | - | - | 5.05% | |
| Consumer Electronics | - | - | - | 0.36% | |
| Consumer Services | - | - | 5.00% | - | |
| Education Services | - | - | - | 5.00% | |
| Household Goods & Home Construction | - | - | 0.92% | - | |
| Household Appliance | - | - | - | 0.92% | |
| Retail | - | 9.22% | - | - | |
| Retailers | - | - | 9.22% | - | |
| Diversified Retailers | - | - | - | 9.22% | |
| Travel & Leisure | - | 3.06% | - | - | |
| Travel & Leisure | - | - | 3.06% | - | |
| Travel & Tourism | - | - | - | 2.60% | |
| Hotels & Motels | - | - | - | 0.46% | |
| Automobiles & Parts | - | 1.57% | - | - | |
| Automobiles & Parts | - | - | 1.57% | - | |
| Automobiles | - | - | - | 1.08% | |
| Auto Parts | - | - | - | 0.49% | |
| Media | - | 0.29% | - | - | |
| Media | - | - | 0.29% | - | |
| Entertainment | - | - | - | 0.29% | |
| Financials | 14.50% | - | - | - | |
| Banks | - | 12.35% | - | - | |
| Banks | - | - | 12.35% | - | |
| Banks | - | - | - | 12.35% | |
| Insurance | - | 1.27% | - | - | |
| Life Insurance | - | - | 1.27% | - | |
| Life Insurance | - | - | - | 1.27% | |
| Financial Services | - | 0.88% | - | - | |
| Investment Banking & Brokerage Services | - | - | 0.88% | - | |
| Investment Services | - | - | - | 0.88% | |
| Telecommunications | 10.16% | - | - | - | |
| Telecommunications | - | 10.16% | - | - | |
| Telecommunications Service Providers | - | - | 6.16% | - | |
| Telecommunications Services | - | - | - | 6.16% | |
| Telecommunications Equipment | - | - | 4.00% | - | |
| Telecommunications Equipment | - | - | - | 4.00% | |
| Energy | 4.89% | - | - | - | |
| Energy | - | 4.89% | - | - | |
| Non-Renewable Energy | - | - | 4.31% | - | |
| Oil: Crude Producers | - | - | - | 4.31% | |
| Renewable Energy | - | - | 0.58% | - | |
| Renewable Energy Equipment | - | - | - | 0.58% | |
| Consumer Staples | 4.79% | - | - | - | |
| Food, Beverage & Tobacco | - | 4.79% | - | - | |
| Beverages | - | - | 4.79% | - | |
| Distillers & Vintners | - | - | - | 4.40% | |
| Brewers | - | - | - | 0.39% | |
| Non-Classified | 3.59% | - | - | - | |
| Industrials | 3.29% | - | - | - | |
| Industrial Goods & Services | - | 2.22% | - | - | |
| Electronic & Electrical Equipment | - | - | 1.38% | - | |
| Electrical Components | - | - | - | 1.18% | |
| Electronic Equipment: Control & Filter | - | - | - | 0.21% | |
| Industrial Engineering | - | - | 0.83% | - | |
| Machinery: Industrial | - | - | - | 0.83% | |
| Construction & Materials | - | 1.07% | - | - | |
| Construction & Materials | - | - | 1.07% | - | |
| Construction | - | - | - | 1.07% | |
| Health Care | 2.29% | - | - | - | |
| Health Care | - | 2.29% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 2.29% | - | |
| Biotechnology | - | - | - | 1.19% | |
| Pharmaceuticals | - | - | - | 1.09% | |
| Cash and Equivalents | 1.37% | - | - | - | |
| Utilities | 1.35% | - | - | - | |
| Utilities | - | 1.35% | - | - | |
| Electricity | - | - | 1.35% | - | |
| Alternative Electricity | - | - | - | 1.35% | |
| Basic Materials | 1.30% | - | - | - | |
| Basic Resources | - | 1.30% | - | - | |
| Industrial Metals & Mining | - | - | 0.75% | - | |
| Aluminum | - | - | - | 0.42% | |
| Iron & Steel | - | - | - | 0.34% | |
| Precious Metals & Mining | - | - | 0.54% | - | |
| Gold Mining | - | - | - | 0.54% | |
| Real Estate | 0.32% | - | - | - | |
| Real Estate | - | 0.32% | - | - | |
| Real Estate Investment & Services | - | - | 0.32% | - | |
| Real Estate Holding and Development | - | - | - | 0.32% | |
Regional Allocation
| Emerging Asia | 81.36% | |
| Developed Asia | 10.93% | |
| Non-Classified | 4.65% | |
| North America | 1.69% | |
| Cash and Equivalents | 1.37% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 98.67% | |
| Cash | 0.70% | |
| US Dollar | 0.62% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Emerging Asia | 81.36% | - | |
China
|
- | 75.12% | |
Taiwan
|
- | 6.24% | |
| Developed Asia | 10.93% | - | |
Hong Kong
|
- | 10.93% | |
| Non-Classified | 4.65% | - | |
| North America | 1.69% | - | |
United States
|
- | 1.69% | |
| Cash and Equivalents | 1.37% | - | |
Breakdown By Market Cap (%)
| Mega |
|
62.38% |
| Large |
|
10.66% |
| Medium |
|
1.21% |
| Non-Classified |
|
24.38% |
| Cash |
|
1.37% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | ALIBABA GROUP HOLDING LIMITED | 9.22% | Retailers | China |
| 2 | TENCENT HOLDINGS LIMITED | 9.05% | Software & Computer Services | China |
| 3 | PDD HOLDINGS INC | 5.70% | Software & Computer Services | China |
| 4 | CHINA CONSTRUCTION BANK CORPORATION | 5.70% | Banks | China |
| 5 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 5.57% | Technology Hardware & Equipment | Taiwan |
| 6 | NETEASE INC | 5.05% | Leisure Goods | China |
| 7 | NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP | 5.00% | Consumer Services | China |
| 8 | KWEICHOW MOUTAI GROUP CO. LTD | 4.40% | Beverages | China |
| 9 | CNOOC LIMITED | 4.31% | Non-Renewable Energy | Hong Kong |
| 10 | CHINA MOBILE LIMITED | 3.12% | Telecommunications Service Providers | Hong Kong |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 26.69% | - | - | - | - | - | - | 26.69% |
| Telecommunications | - | 10.16% | - | - | - | - | - | - | 10.16% |
| Financials | - | 14.50% | - | - | - | - | - | - | 14.50% |
| Real Estate | - | 0.32% | - | - | - | - | - | - | 0.32% |
| Consumer Discretionary | - | 25.47% | - | - | - | - | - | - | 25.47% |
| Consumer Staples | - | 4.79% | - | - | - | - | - | - | 4.79% |
| Energy | - | 4.89% | - | - | - | - | - | - | 4.89% |
| Utilities | - | 1.35% | - | - | - | - | - | - | 1.35% |
| Health Care | - | 2.29% | - | - | - | - | 0.94% | - | 3.23% |
| Industrials | - | 3.29% | - | - | - | - | - | - | 3.29% |
| Basic Materials | - | 1.30% | - | - | - | - | 1.21% | - | 2.50% |
| Cash and Equivalents | - | - | - | - | - | - | - | 1.37% | 1.37% |
| Non-Classified | - | - | - | - | - | - | 1.45% | - | 1.45% |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B0MSSG3 |
| Mex Code | SBHCHN |
| Isin Code | IE00B0MSSG36 |
| Citi Code | TJ84 |
Fund Charges
| Annual Management Charge (AMC) | 1.70% |
| Further Costs | 0.40% |
| Yearly Total | 2.10% |
Aims and Benchmark
| Aims | Objective: The investment strategy of the fund is to purchase units in the HSBC Chinese Equity Fund (USD) - the underlying fund. Underlying Fund Objective: The fund aims to provide long term capital growth by investing in a portfolio of Chinese shares while promoting ESG characteristics within the meaning of Article 8 of SFDR. In normal market conditions, the Fund will invest at least 90% of its assets in shares (or securities similar to shares) of companies of any size that are based in, or carry out the larger part of their business activities in, China, including Hong Kong SAR. The Fund may invest up to 10% of its assets in other funds, including HSBC funds. The fund includes the identification and analysis of a company's ESG credentials as an integral part of the investment decision making process to reduce risk and enhance returns. ESG Credentials may include, but are not limited to: - environmental and social factors, including but not limited to physical risks of climate change and human capital management, that may have a material impact on a security issuer's financial performance and valuation. - corporate governance practices that protect minority investor interests and promote long term sustainable value creation. The fund will not invest in equities issued by companies with specified involvement in specific excluded activities including the production of controversial weapons or tobacco and companies with more than 10% revenue generated from thermal coal extraction or coal-fired power generation and having no clearly defined, credible plan to reduce exposure to below 10%. The fund may use derivatives for hedging or efficient portfolio management. The fund is denominated in US dollars. |
| Benchmark | MSCI China 10/40 Net |
| ABI Sector | Global Emerging Markets Equities |
Ratings
| FE Crown |  |
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Charges and further costs may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -10.94 |
| Beta | 1.36 |
| Sharpe | -0.05 |
| Standard Deviation | 22.11 |
| Info Ratio | -0.87 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | Yes |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Offshore
The fund is not UK domiciled, and investors are not normally entitled to compensation through the UK Financial Services Compensation Scheme.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.
Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
The registered office of Prudential International is in Ireland at Fitzwilliam Court, Leeson Cl, Dublin 2, D02 TC95. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.