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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  BOC Hong Kong (Holdings) Ltd    2388   HK2388011192

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BOC Hong Kong (Holdings) Ltd : BOCHK Asset Management Limited launches "BOCHK All Weather HK & China Equity Fund"

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06/28/2013 | 02:47am CEST


27 Jun 2013

BOCHK Asset Management Limited ("BOCHK AM") today announced the launch of "BOCHK All Weather HK & China Equity Fund" (the "Sub-Fund"). It is the fourth sub-fund introduced under the BOCHK Wealth Creation Series. Managed by the experienced equity team from BOCHK AM, the Sub-Fund aims to provide investors with an opportunity to capture the investment potential in equity securities in Hong Kong and the Mainland of China markets through flexible asset allocation.

The Fund has been authorised by the Hong Kong Securities and Futures Commission ("HKSFC") Note. It will invest not less than 70% of its net asset value ("NAV") in the mid-to-small cap stocks listed in Hong Kong. The Sub-Fund offers investors an opportunity to benefit from the currently low valuation of the Hong Kong and the Mainland of China related equity markets in the short-term and enjoy capital growth in the long run. Up to 30% of its NAV may invest in the fixed income instruments in adverse market conditions for the purpose of managing downside risks.

Dr Au King Lun, Chief Executive Officer of BOCHK AM, said, "We have been recognised for our exceptional capabilities in RMB fixed income investment and product innovation, as evidenced by the five prestigious 2012 Best of the Best Awards received from Asia Asset Management. In addition to our success in RMB investment, BOCHK AM possesses an equity expertise team currently managing institutional accounts. When designing this new Sub-Fund, we intended to help the public to participate in the investment opportunities related to the Mainland of China, but yet be able to manage the risks when investment markets are volatile. It will also help strengthen BOCHK AM's equity investment capability in the Hong Kong retail fund market."

BOCHK AM has in place a proven Hong Kong equity investment process that not only works well under normal market conditions but also puts strong emphasis on managing market downside risks. With its sound Benchmark Aware but Not Benchmark Driven philosophy, the investment approach of the Sub-Fund is very different from other industry players'. One of the unique features is the adoption of a Defensive Circuit Breaker strategy which aims to protect capital in volatile market conditions by deploying investment tools such as real estate investment trusts, fixed income securities, cash, bank deposits and the like, as appropriate. This flexible strategy will also help to balance the adverse risks brought by the market downturns.

The minimum investment amount of the Sub-Fund is HKD10,000 or its equivalent for the HKD class and the USD class respectively. The Sub-Fund is available for subscription from now to 19 July 2013 at BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation. For enquiry, please call their respective Customer Service Hotlines at (852) 3988 2388, (852) 2622 2633 and (852) 2232 3625.

- End -

Note: HKSFC authorisation is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance. It does not mean the product is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. This press release has not been reviewed by the HKSFC.

This press release is for informational purposes only and does not constitute any offer or recommendation to anyone to invest in the Fund. Investors should not solely rely on this press release to make any investment decision or any other decision. Any investment decision should be based on appropriate professional advice specific to the investors' needs. The Fund does not have any guarantees. Investors may not get back the full amount of money they invest. Investment involves risk. Past performance is not indicative of future performance. Please refer to offering documents (including the Explanatory Memorandum) for further details including the risk factors.

About BOCHK Asset Management Limited
BOCHK Asset Management Limited ("BOCHK AM"), established in 2010 as a wholly owned subsidiary of BOC Hong Kong (Holdings) Limited, provides core investment solutions to the BOCHK Group.

BOCHK AM endeavours to offer individual and institutional investors with comprehensive investment solutions and multi-manager products that best suit the clients' risk tolerance and returns requirements. In addition, it manages investment funds and discretionary investment portfolios for clients to help maximise their potential returns.

In recognition of its outstanding performance since its establishment, BOCHK AM was granted five prestigious 2012 Best of the Best Awards by Asia Asset Management. These awards are the RMB Bonds, Offshore (One Year); Best RMB Offshore Manager in Asia; the Best Newcomer; the CEO of the Year (Hong Kong); and the Most Innovative Product, reflecting its strengths and capabilities in RMB fixed income, product innovation and leadership in the industry.

About Bank of China (Hong Kong) Limited
Bank of China (Hong Kong) Limited ("BOCHK"), established on 1 October 2001, is a leading listed commercial banking group in Hong Kong. With over 260 branches, more than 580 ATMs and other distribution channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to personal and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 38 branches and sub-branches in the Mainland of China to provide cross-border banking services to customers in Hong Kong and the Mainland. BOCHK is appointed by the People's Bank of China as the Clearing Bank for Renminbi business in Hong Kong. On 13 July 2010, BOCHK was authorised as the Clearing Bank of RMB banknotes business for the Taiwan region.

BOC Hong Kong (Holdings) Limited, BOCHK's holding company, began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code "2388", ADR OTC Symbol "BHKLY'.



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Financials ( HKD)
Sales 2016 44 861 M
EBIT 2016 31 410 M
Net income 2016 40 911 M
Debt 2016 -
Yield 2016 5,95%
P/E ratio 2016 7,06
P/E ratio 2017 10,40
Capi. / Sales 2016 6,15x
Capi. / Sales 2017 5,59x
Capitalization 275 950 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 27,7  HKD
Spread / Average Target 6,0%
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Yi Yue Vice Chairman & Chief Executive Officer
Guo Li Tian Chairman
Xiangqun Zhong Chief Operating Officer
Yang Sui Chief Financial Officer
Ying Xin Gao Non-Executive Director
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