OPPORTUNITIES IN DOMESTIC A-SHARES
Million People
%
Live in Cities
Under the age of 14 (mn)
Listed Stocks
FMG (EU) CHINA FUND
CHINA AT A GLANCE
The FMG (EU) China Fund is one of the few and exclusive funds already invested in domestic A-shares. The Fund has direct exposure to over 3000 listed companies traded on the Shenzhen and Shanghai markets. We believe China is in the beginning, not at the end, of a major secular long-term bull market.
- World’s second largest economy
- Forecast to be the Globe’s main growth engine for years to come
- Reasonable valuations
- Exposure to “new” sectors such as technology, green energy and healthcare
- Strong domestic consumption
- China’s gross national savings is at roughly 45%
FUND DESCRIPTION
The FMG (EU) China Fund offers access to domestic China and its so-called A shares, which include roughly 3000 publicly listed companies. Locally listed A shares provide access to fast growing consumer companies as well as a broad range of other industry sectors. The investment objective is to achieve long term capital appreciation from a portfolio of equities listed on the stock exchanges of mainland China. The fund utilizes a multi-manager approach, providing diversification among industry sectors.
Managers are selected based on their proven expertise in China A shares, investing mainly on the ground in China. The fund is actively managed, with FMG applying both a top down macro and a long-term quantitative model to determine allocations, including cash levels. FMG considers risk management an integral element of the portfolio management process. The opportunistic nature of the fund targets investors with a higher risk-reward return profile.
MOST RECENT POST
FMG (EU) China Fund lost 2.1% in the 3rd Quarter, whereas Year to Date performance is +14.1%
The MSCI China index is now trading at a P/E of 10.2 for 2020 with earnings for this year of over 20%. The on-going trade war explains the difference. The A share factor in the MSCI index doubled from 5% to 10% by end May and this brings the A share weight in the...
ASSET ALLOCATION
- Consumer Discretionary 25%
- Consumer Staples 21%
- I.T. 15%
- Financials 14%
- Industrials 11%
- Cash 5%
- Healthcare 5%
- Others 4%
FUND PARTICULARS
Investment Profile
Investment Focus
Investment Objective
Investment Horizon
Risk Level (1-7)
Management
Fund Structure
Fund Type
Inception
Base Currency
Currency Classes
Minimal Init. Investment
Emerging Markets
Domestic China
Listed Equities, A-Shares
3-5 Years
6
Multi Managed
SICAV
AIF
2004
USD
USD, EUR, GBP
Class: A&L €10.000, B €100.000
or lower when dealt via »»
Dealing
Prenotice (Buy)
Prenotice (Sell)
Cut-off Time
Load Fee
Annual Management Fee
Performance Fee
Income Distribution
Domicile
Regulator
Custodian
Administrator
Audit
Weekly
1 Business Day
5 Business Days
5:00PM CET
Up to 5%
Class A&L: 2%, B: 1.5%
Class A&L: 20%, B: 10% HWM
Accumulation
Malta
Malta Financial Services Authority (MFSA)
REYL & Cie (Malta) Ltd
Apex Fund Services (Malta) Ltd
Deloitte Audit Limited
Prices/NAV’s
Share prices and ISIN codes for all currency- and fund classes
Inquiring more information or subscription details - China Fund
Disclaimer: FMG (MALTA) Ltd. (“FMG”) is licensed by the Malta Financial Services Authority (“MFSA”) as a category 2 Investment Services Provider as provided in the Investment Services Act Chapter 370 of the Laws of Malta. FMG is authorized to act as a full scope alternative investment fund manager (“AIFM”) in terms of Directive 2011/61/EU of the European Parliament and of the Council on alternative investment fund managers (“AIFMD”). This summary is for information purposes only and does not constitute an offer to sell or a solicitation to buy. Citizens or residents of the United States and India may not invest in these Funds. All Funds may not be marketed to Swiss citizens or residents except those considered as “regulated qualified investors” by the Swiss Collective Investment Schemes Act and the Swiss Collective Investment Schemes Ordinance. All Funds are not to be marketed to EU or EEA investors. Investors who wish to obtain information on these funds will only be provided any such materials upon receipt of an appropriate reverse solicitation request in accordance with the requirements of the EU AIFM Directive, Swiss Law and/or national law in their home jurisdiction. Opinions and estimates constitute the manager’s judgment and are subject to change without notice. Past performance is not indicative of future results. Investments in Emerging Markets should be considered high risk where a portion or total loss of capital is conceivable. The synthetic risk-indicator illustrated herein comprises 60 months returns calculated in USD and is updated once per annum. No assurance can be given that the investment objective will be achieved or that an investor will receive a return of all or part of his/her initial capital, and investment results can fluctuate substantially over any given time period. Please refer to the relative fund’s prospectus which contains brief descriptions of certain risks associated with investing in the fund. FMG funds or third-party funds marketed by FMG are aimed at experienced investors and you have to ensure you are able to invest in such funds. Questions should be directed to your local representative or financial advisor. This document may not be reproduced, distributed, or published for any purpose without the prior written consent of the manager. All information contained in this communication is as provided by FMG (MALTA) Ltd. Return chart: FMG (EU) China Fund B ISIN MT0000077512, MSCI China A Index, MSCI EM Index (USD). Data source: Bloomberg. Exposure chart is updated in January 2020. FMG Copyright (C) 2022 FMG. All rights reserved.