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ICBC Credit Suisse Investment Funds – ICBCCS RMB Fixed Income Fund

Important Information:

- The Sub-Fund invests primarily in RMB denominated and settled debt instruments issued or distributed within China through the Renminbi Qualified Foreign Institutional Investor (“RQFII”) quota of the Manager, which is subject to applicable regulations imposed by the PRC authorities.

- The Sub-Fund is therefore exposed to concentration risk in a single market, emerging market risks including political, tax, economic, legal, regulatory and liquidity risks, interest rate risk, and credit/insolvency risk of issuers.

- PRC rules and regulations may change and repatriation restrictions on RQFII may be imposed. Restriction on repatriation of capital and net profits may impact the Sub-Fund’s ability to meet redemption requests.

- The Sub-Fund may be exposed to risks associated with changes in PRC tax laws, which may have retrospective effect and may adversely affect the Sub-Fund.

- RMB is currently not freely convertible and is subject to exchange controls by the Chinese government and investors may be adversely affected by movements of the exchange rates between RMB and other currencies. There is no guarantee that RMB will not depreciate.

- Investment grade securities may be subject to the risk of being downgraded to below investment grade securities. In the event of downgrading the Sub-Fund’s investment value in such security may be adversely affected.

- The investment returns are denominated in RMB. US/HK dollar-based investors are therefore exposed to fluctuations in the US/HK dollar / RMB exchange rate.

- Investment is subject to risks. Investors should not invest in this product based on this document alone. Investors may not get back the full amount invested.

ICBC Credit Suisse Investment Series – ICBC Credit Suisse RMB Cash Fund

Important Information:

- The Sub-Fund invests primarily in RMB denominated and settled short term debt instruments issued within China through the Renminbi Qualified Foreign Institutional Investor (“RQFII”) quota of the Manager, which is subject to applicable regulations imposed by the PRC authorities.

- Investment in the Sub-Fund is not the same as placing funds on deposit with a bank or deposit-taking company. There is no guarantee of principal repayment and the Manager has no obligation to redeem the investment at the offer value. The Sub-Fund is not subject to the supervision of the Hong Kong Monetary Authority. The Sub-Fund does not have a constant NAV.

- The Sub-Fund is exposed to concentration risk in a single market, emerging market risks including political, tax, economic, legal, regulatory and liquidity risks, interest rate risk, and credit/insolvency risk of issuers.

- PRC rules and regulations may change and repatriation restrictions on RQFII may be imposed. Restriction on repatriation of capital and net profits may impact the Sub-Fund’s ability to meet redemption requests.

- The Sub-Fund may be exposed to risks associated with changes in PRC tax laws, which may have retrospective effect and may adversely affect the Sub-Fund.

- RMB is currently not freely convertible and is subject to exchange controls by the Chinese government and investors may be adversely affected by movements of the exchange rates between RMB and other currencies. There is no guarantee that RMB will not depreciate.

- Investment grade securities may be subject to the risk of being downgraded to below investment grade securities. In the event of downgrading the Sub-Fund’s investment value in such security may be adversely affected.

- The investment returns are denominated in RMB. US/HK dollar-based investors are therefore exposed to fluctuations in the US/HK dollar / RMB exchange rate.

- Investment is subject to risks. Investors should not invest in this product based on this document alone. Investors may not get back the full amount invested.

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ICBC Credit Suisse

ICBC Credit Suisse RMB Cash Fund

Investment Goals & Strategies

Objectives

The investment objective of the Sub-Fund is to provide investors with daily liquidity together with a higher investment return comparable to normal RMB denominated money market interest rates.

Investment Strategy

The Sub-Fund seeks to achieve its investment objective by investing in RMB denominated and settled short term debt instruments, and RMB denominated cash and cash equivalents. The Sub-Fund may invest up to 100% of its Net Asset Value in RMB denominated and settled short term debt instruments issued or distributed within mainland China by Chinese government (including state, provincial and local governments), quasi-government organizations (including policy banks), banks, financial institutions and other corporation which are traded on the China Interbank Bond Market and/or the exchange traded bond markets in mainland China, through the RQFII quota of the Manager, direct investments in the China Interbank Bond Market and/or other means as may be permitted by the applicable laws and regulations from time to time. The Sub-Fund may also invest up to 60% of its Net Asset Value in RMB denominated and settled short term debt instruments and/or RMB denominated cash and cash equivalents issued outside mainland China.

Credit Rating

In respect of instruments issued and distributed within mainland China, the Sub-Fund will only invest in those short term debt instruments issued and distributed within mainland China, provided that either the instruments themselves or the issuers of such instruments carry a short term credit rating of A-1 or above or long term rating of AAA or above as rated by a PRC local credit rating agency. For those instruments issued and distributed outside mainland China that the Sub-Fund may invest in, the instruments themselves or the issuers of such instruments should carry a short term credit rating of A-2 or above (or its equivalent), or long term credit rating of BBB or above (or its equivalent) as rated by an international credit rating agency.

Average Portfolio Maturity

The Sub-Fund will maintain a portfolio with weighted average maturity not exceeding 60 days and a weighted average life not exceeding 120 days.

Dividend policy

Class A Units, Class B Units, Class C Units and Class Z Units are Distribution Classes. It is currently intended that dividends will be declared out of all net income (the income net of expenses) of the Sub-Fund on each Business Day. There is no guarantee of regular distribution and, if distribution is made, the amount being distributed. In the event that the income generated from the Sub-Fund’s investments attributable to the relevant Distribution Classes during the relevant period is insufficient to pay distributions as declared, the Manager may in its discretion determine such distributions be paid from capital. The Manager may also, in its absolute discretion, distribute gross income and charge all or part of the Sub-Fund’s fees and expenses to the capital of the Sub-Fund as the Manager considers appropriate, resulting in an increase in distributable income for the payment of dividends by the Sub-Fund and therefore, the Sub-Fund may effectively pay dividends out of capital.

Summary

Name ICBC Credit Suisse RMB Cash Fund
ISIN
Class A
Class B
Class C
Class Z
Class R
Class P
Class I
Class X
HK0000221173
HK0000221181
HK0000221199
HK0000221207
HK0000277316
HK0000277324
HK0000277332
HK0000277340
Bloomberg Code -
Type Unit Trust
Trustee HSBC Institutional Trust Services (Asia) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited
Manager and RQFII Holder ICBC Credit Suisse Asset Management (International) Company Limited
PRC Custodian HSBC Bank (China) Company Limited
Dealing frequency Daily
Base currency RMB
Financial year end of this fund 31 December
Min. investment
Class A
Class B
Class C
Class Z
Class R
Class P
Class I
Class X
RMB 1
RMB 10,000,000
RMB 30,000,000
Manager's discretion
RMB 1
RMB 10,000,000
RMB 30,000,000
Manager's discretion
Min. holding
Class Z/X
Class A/R   
All other classes
Manager's discretion
RMB 1
RMB 10,000
Min. redemption
Class Z/X
Class A/R
All other classes
Manager's discretion
RMB 1
RMB 10,000

Fee

      Current
Subscription Fee (Preliminary Charge)
(% of total subscription amount received (i.e. before deducting preliminary charge))
All classes 1.5% up to 1.5%
Switching Fee (Switching Charge)
(% of total amount being switched into)
All classes    
Redemption Fee (Redemption Charge)
(% of total redemption proceeds)
All classes    

 

Distributor

  • Industrial and Commercial Bank of China (Asia)
  • SinoPac Securities (Asia) Limited
  • Credit Suisse AG

Fund Performance

  查询日期

Cumulative Fund Performance

class1mon1Month3MonthsYear 2020Year 2019Year 2018Year 2017Year 2016Since Inception
X+0.74%+0.18%0.55%1.55%1.77%3.29%3.17%0.53%11.54%

Top 5 Holdings(% of NAV)

INDUSTRIAL BANK CO LTD SER NCD(REG) 0% CD SER NCD (REG) 0% CD

13MAY2021(INTERBANK)

13.67%

CHINA MERCHANTS BANK SER NCD (REG) 0% CD SER NCD (REG) 0% CD

25MAY2021(INTERBANK)

13.66%

CHINA GUANGFA BANK SER NCD (REG) 0% CD SER NCD (REG) 0% CD

26MAY2021(INTERBANK)

13.66%

BANK OF SHANGHAI SER NCD (REG) 0% CD SER NCD (REG) 0% CD

26MAY2021(INTERBANK)

13.66%

CHINA MINSHENG BKG CORP SER NCD (REG) 0% CD SER NCD (REG) 0% CD

18JUN2021(INTERBANK)

13.64%

 

Asset Allocation (% of NAV)

Short Term Debt 95.52%
Cash/Deposit/Others* 4.48%

*Others include: reserve & bond interest receivable, fee receivable, fee payable. Individual line items may not add up to 100% due to rounding.

Dividend History

Date Document Download
2016-06-30 Dividend Composition Information - Q2 2016 Download
2016-04-01 Dividend Composition Information - Q1 2016 Download

 

Fund Documents

Date Document Download
2021-09-23 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for 2021 Download
2021-04-30 ICBC Credit Suisse RMB Cash Fund - Audited Financial Statements as at 31.12.2020 Download
2021-04-30 ICBC Credit Suisse RMB Cash Fund - Availability of updated Product Key Facts Statement Download
2021-04-30 ICBC Credit Suisse RMB Cash Fund - Availability of updated EM Download
2021-03-31 Factsheet(February) Download
2021-02-28 Factsheet(January) Download
2021-01-29 Factsheet(December) Download
2020-12-31 Factsheet(November) Download
2020-11-30 Factsheet(October) Download
2020-10-29 Factsheet(September) Download
2020-09-23 Factsheet(August) Download
2020-08-31 Factsheet(July) Download
2020-08-28 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for the Period Ended 30 June 2020 Download
2020-07-31 Factsheet(June) Download
2020-06-15 Factsheet(May) Download
2020-05-30 Factsheet(Apr.) Download
2020-04-30 Factsheet(Mar.) Download
2020-04-29 ICBC Credit Suisse RMB Cash Fund - Audited Financial Statements as at 31.12.2019 Download
2020-03-30 Factsheet(Feb.) Download
2020-02-29 Factsheet(Jan.) Download
2020-01-31 Factsheet(Dec.) Download
2019-12-31 Factsheet(Nov.) Download
2019-10-31 Factsheet(Oct.) Download
2019-10-30 Factsheet(Sep.) Download
2019-09-30 Facsheet (Aug) Download
2019-08-30 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for 2019 Download
2019-08-28 Factsheet (July) Download
2019-07-09 Factsheet (June) Download
2019-06-25 Factsheet (May) Download
2019-05-31 Factsheet (April) Download
2019-04-30 Audited Financial Statements as at 31.12.2018 Download
2018-08-30 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for 2018 Download
2018-04-30 ICBC Credit Suisse RMB Cash Fund - Audited Financial Statements as at 31.12.2017 Download
2017-08-18 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for 2017 Download
2017-04-28 ICBC Credit Suisse RMB Cash Fund - Audited Financial Statements as at 31.12.2016 Download
2016-08-24 ICBC Credit Suisse RMB Cash Fund - Unaudited Semi-annual Report for 2016 Download

 

Announcement

Date Document Download
2021-09-23 Notice to Unitholders - Unaudited Semi-annual Report for 2021 Download
2021-04-30 Notice to Unitholders - Audited Financial Statements as at 31.12.2020 and Availability of updated EM and Product Key Facts Statement Download
2020-08-28 Notice to Unitholders - Availability of unaudited semi-annual report for the period ended 30 June 2020 Download
2020-04-29 Notice to Unitholders - Availability of updated Product Key Fact Statement and annual report and audited accounts for the period ended 12 December 2019 Download
2019-12-31 Notice to Unitholders - Availability of updated EM and KFS Download
2019-11-01 Notice to Unitholders - Further Notice on Updated Product Key Facts Statement Download
2019-08-30 Notice to Unitholders - Unaudited Semi-annual Report for 2019 Download
2019-08-14 Notice to Unitholders - Availability of updated Product Key Fact Statement Download
2019-07-03 Notice to Unitholders - Subsidy of Minimum Trustee Fee and Director's Information Update Download
2019-04-30 Notice to Unitholders - Availability of updated Product Key Fact Statement and annual report and audited accounts for the period ended 31 December 2018 Download
2019-01-29 Notice to unitholders - Reduction of Minimum Subscription,Redemption and Holding Amounts Download
2019-01-18 Notice to Unitholders - Subsidy of Minimum Trustee Fee Download
2018-11-23 Notice to Unitholders - Subsidy of Minimum Trustee Fee Download
2018-09-17 Notice to Unitholders - Availability of updated EM and Product Key Fact Statement Download
2018-08-22 Notice to unitholders - Subsidy of Audit Fee,updated Key Fact Statement and EM Download
2018-04-30 Notice to Unitholders - Availability of annual report for the period ended 31 December 2017 Download
2018-03-06 Notice to unitholders - Adjustment of the Minimum Subscription Amount and Management Fee Download
2018-01-30 Notice to unitholders - Reduction of Minimum Subscription,Redemption and Holding Amounts Download
2017-09-29 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170929 Download
2017-09-13 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170913 Download
2017-08-18 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170818 Download
2017-07-31 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170731 Download
2017-05-31 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170531 Download
2017-05-27 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170527 Download
2017-04-28 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170428 Download
2017-03-31 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170331 Download
2017-01-27 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20170127 Download
2016-11-30 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20161130 Download
2016-08-31 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders 20160831 Download
2016-08-24 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders Download
2016-06-28 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders Download
2016-06-10 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders Download
2016-04-20 ICBC Credit Suisse RMB Cash Fund - Notice to Unitholders Download

 

Data source: ICBCCSI ,Wind, 30 November. 2020

 

ICBC Credit Suisse