Morningstar® Fund Report™|09/06/2025
HSBC Asia High Income Bond Fund (RMB Hedge Dist)
Performance History 31/05/2025
Growth of 1,000(CNY)
Fund -4.59 -17.82 -0.78 3.19 1.92
+/-Cat 1.78 -12.50 -8.41 -4.56 -
+/-Idx - - - - -
Category: Other Bond
Index: -
Trailing Returns 05/06/2025
Fund +/-Idx
YTD 2.00 -
3 Years -3.52 -
5 Years -11.37 -
10 Years - -
12 Month Yield 4.15
Dividend Paying Frequency Monthly
Key Stats
Morningstar Category
Other Bond
Morningstar Rating™
Not Rated
Symbol
968084
NAV 05/06/2025
CNH 6.8141
Day Change
-0.04%
Total Net Assets (100mil)
30/05/2025
CNH  8.79
Actual Front Load Fee
2.00%
Deferred Load Fee
-
Manager Name
Choi  Alex
Mui  Alfred
Leap  Ming
Inception Date
03/02/2020
Benchmark
Fund Benchmark
JPM Asia Credit Non-Investment Grd TR*35%+ JPM Asia credit Investment Grade TR.*65%
Morningstar® Benchmark
-
Investment strategy
The Sub-Fund aims to invest in fixed income securities which provide high yield compared to their peers and the potential for capital appreciation over the medium to long term.
Portfolio Profile 30/04/2025
Morningstar Style Box®_Morningstar:
Equity Style
Asset Allocation %
% Long % Short % Net Assets
Stocks 0.00 0.00 0.00
Bonds 95.25 0.00 95.25
Cash 10.62 6.42 4.20
Other 0.55 0.00 0.55
Top 5 Holdings %
United States Treasury Notes 3.875% 3.96
Philippines (Republic Of) 5.5% 1.69
Clifford Capital Pte. Ltd. 4.781% 1.39
Greentown China Holdings Ltd. 8.45% 1.23
GLP China Holdings Ltd. 2.95% 1.22
Fixed Income
Effective Maturity (Y) 6.15
Effective Duration 4.72
Average Credit Quality -
Return Charts
3 Months 6 Months 1 Year 3 Years 5 Years 10 Years
Index Currency
UPDATE
Fund: HSBC Asia High Income Bond Fund (RMB Hedge Dist)
Index: Select index
Annual Returns 31/05/2025
2018 2019 2020 2021 2022 2023 2024 2025
Total Return - - - -4.59 -17.82 -0.78 3.19 1.92
+/- Category - - - 1.78 -12.50 -8.41 -4.56 -
+/- Index - - - - - - - -
% Rank (Rel to Cat) - - - - - - - -
Trailing Returns 05/06/2025
Total Return +/- Category +/- Index
1 Day 0.05 0.17 -
1 Week 0.02 -0.90 -
1 Month -0.27 2.80 -
3 Months -0.86 3.39 -
6 Months 0.34 8.03 -
YTD 2.00 6.08 -
1 Year 2.89 14.22 -
3 Years -3.52 3.20 -
5 Years -11.37 -8.81 -
10 Years - - -
Quarterly Returns 31/05/2025
Quarter 1 Quarter 2 Quarter 3 Quarter 4
2025 1.95 - - -
2024 1.32 0.67 4.06 -2.77
2023 0.56 -2.14 -3.56 4.55
2022 -9.13 -7.06 -7.03 4.66
Dividend 05/06/2025
12 Month Yield 4.15
2025 0.12
2024 0.32
2023 0.38
2022 0.61
Morningstar Rating™ -
3-Year Not Rated
5-Year Not Rated
10-Year Not Rated
Volatility Measurements 31/05/2025
1-Yr Volatility 3.79%   3-Yr Volatility 8.29%
1-Yr MaximumDrawdown -6.55% 3-Yr MaximumDrawdown -22.86%
1 Yr Sharpe Ratio 0.67 3-Yr Sharpe Ratio -0.22
3-Yr Mean Return -0.06%
Fixed Income Style 30/04/2025
Morningstar Style Box®_Morningstar:
Equity Style
Maturity Distribution %
1 To 3 23.70
3 To 5 22.81
5 To 7 14.16
7 To 10 13.33
10 To 15 2.19
15 To 20 1.75
20 To 30 13.33
Over 30 0.49
Effective Maturity (Y) 6.15
Effective Duration 4.72
Average Credit Quality -
Credit Quality Breakdown % %
AAA 1.52 BB 17.47
AA 11.80 B 9.54
A 18.40 BelowB 1.52
BBB5.76 Not Rated 6.62
AssetAllocation 30/04/2025
Asset Allocation
% Long % Short % Net Assets
Stocks 0.00 0.00 0.00
Bonds 95.25 0.00 95.25
Cash 10.62 6.42 4.20
Other 0.55 0.00 0.55
Top 10 Holdings 30/04/2025
Portfolio
Total Number of Equity Holdings 0
Total Number of Bond Holdings 314
Assets in Top 10 Holdings % 17.24
Product Name Sector Country/Region % of Assets
United States Treasury Notes 3.875% United States 3.96
Philippines (Republic Of) 5.5% Philippines 1.69
Clifford Capital Pte. Ltd. 4.781% Singapore 1.39
Greentown China Holdings Ltd. 8.45% China 1.23
GLP China Holdings Ltd. 2.95% China 1.22
Vedanta Resources Finance II PLC 10.875% India 1.16
Indonesia (Republic of) 5.25% Indonesia 1.12
United States Treasury Notes 4% United States 1.11
DBS Group Holdings Ltd. 4.403% Singapore 1.11
Nanyang Commercial Bank Ltd. 6% Hong Kong 1.09
Management Team
CompanyName HSBC Investment Funds (HK) Limited
Phone +852 22841118
Website www.assetmanagement.hsbc.com/hk
Address Level 22, HSBC Main Building
1 Queen's Road Central


 
Domicile HKG
Legal Structure Unit Trust
UCITS No
Inception Date 03/02/2020
Fund Advisor(s)
HSBC Global Asset Management (HK) Ltd
Fund Manager   Choi Alex
Manager Start Date   30/01/2024
Education  
Biography  
Fund Manager   Mui Alfred
Manager Start Date   24/02/2017
Education  
University of Ottawa
Biography  
Alfred Mui is the Head of Asian Credit in the Asian Fixed Income team within HSBC Asset Management in Hong Kong and has been working in the financial industry since 1996. Within the team, Alfred heads the Asian credit capabilities. Prior to re-joining HSBC in June 2010, Alfred worked as a director of credit trading at Myo Capital and a director at UBS Global Credit Strategies Group. Before first joining HSBC in 2000, Alfred worked as an investment advisor at Matheson InvestNet Ltd. and Jardine Fleming Holdings Ltd. and market risk management at Daiwa Securities (HK) Ltd and Chase Manhattan Bank. Alfred holds an MBA from the University of Ottawa and a Bachelor of Science with Distinction from the University of Toronto. Alfred is a CFA charterholder.
Fund Manager   Leap Ming
Manager Start Date   13/09/2019
Education  
Biography  
Ming Leap is an Associate Director in the Asian Fixed Income team and has been working in the industry since 2005. Before joining the team in 2011, Ming was a Quantitative Investment Manager at Sinopia Asset Management (HSBC’s former quantitative specialist) in Hong Kong, focusing on Global Bonds strategies. Prior to joining HSBC in 2007, Ming worked as an Assistant Dealer at AXA Investment Managers in Paris. He holds a Bachelor’s degree in Economics and Management and a Master’s degree in Global Market Finance from the University of Paris IX Dauphine. Ming also holds a "DEUG Mathematiques Appliquées aux Sciences Sociales", a two-year university degree in Mathematics applied to Social Sciences from Paris I, the Pantheon-Sorbonne University.
Fees and Expenses
Subscription Fee
Front Load Fee(Max) 3.00%
Actual Front Load Fee 2.00%
Deferred Load Fee Fee
Redemption Fee
Floor Unit Fee
Above 0 Year(s) 0%
Annual Charge
Management (Max) 1.15%
Actual Management Fee 1.15%
Custodian Fee 0.07%
Distribution Fee -
Minimum Investment
MinInvestment 100.00Yuan
Additional Purchase -

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