The CICC Hong Kong Asset Management (HKAM) China Equity Fund invests in the stocks of companies that are domiciled in, or conducting their main activities, in China.
“This fund highlights our commitment to developing cross-border investment products and serving our clients around the globe,” said Frank Xu, CICC’s assistant president and head of asset management segment.
The net asset value of the fund is $87.48m, according to the CICC website.
The ongoing charge over a year for the fund is estimated to be 1.93%, while the management fee is 1.25% per annum.
The fund may invest up to all its net assets directly in China A shares, through the Stock Connect programme, or by way of funded swap transactions, according to the website.
It is the seventh sub-fund under its unit trust CICC Fund Series.
The other sub-funds under CICC Fund Series are CICC Hong Kong Equity Fund and five Hong Kong listed ETFs, including the CICC Carbon Futures ETF, the ICBC CICC USD Money Market ETF, the Bloomberg Barclays China Treasury 1-10 Years ETF, the CSI Select 100 ETF and the CICC KraneShares CSI China Internet Index ETF.
The firm has not yet replied to FSA’s request for the fund’s factsheet.
Established in 2005, CICC HKAM is a wholly-owned subsidiary of China International Capital Corporation.
