Products

Key Risk

Investment involves risks. Please refer to the Prospectus for details including as to the risk factors.

 

1. General investment risk

  • The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses. There is no guarantee of the repayment of principal. There is also no assurance that the investment objective of the Sub-Fund will be achieved.

 

2. Active investment management risk

  • The Sub-Fund employs an actively managed investment strategy. The Sub-Fund does not seek to track any index or benchmark, and there is no replication or representative sampling conducted by the Manager. It may fail to meet its objective as a result of the Manager’s selection of investments, and/or the implementation of processes which may cause the Sub-Fund to underperform as compared to other funds with a similar objective.

 

3. Equity market risk

  • The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.

 

4. Sector concentration risk and risks related to companies involved in Innovative Business

  • Due to the concentration of the Sub-Fund’s investments in companies involved in Innovative Business, which are characterised by relatively higher volatility in price performance when compared to other economic sectors, the performance of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
  • Many of the companies with a high business exposure to Innovative Business have a relatively short operating history. Such companies also face intense competition, and there may also be substantial government intervention, which may have an adverse effect on profit margins. Rapid changes could render obsolete the products and services offered by these companies. These companies are also subject to the risks of loss or impairment of intellectual property rights or licences, cyber security risks resulting in undesirable legal, financial, operational and reputational consequences.
  • In addition, the performance of the Sub-Fund may be exposed to risks associated with different sectors and themes, including information technology (including cloud computing), e-commerce, smart living, online entertainment, autonomous and electric vehicles, robotics and artificial intelligence, video games and esports, blockchain, fintech, Metaverse, semiconductor, healthcare, consumer discretionary sectors and social media. Fluctuations in the business for companies in these sectors or themes will have an adverse impact on the Net Asset Value of the Sub-Fund.

 

5. Mainland China related risks

  • The Sub-Fund’s investments may be concentrated in companies headquartered or incorporated in Mainland China. The Sub-Fund’s value may be more volatile than that of a fund with a more diverse portfolio. The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Mainland China market.
  • Mainland China is an emerging market. The Sub-Fund invests in Mainland Chinese companies which may involve increased risks and special considerations not typically associated with investment in moredeveloped markets, such as liquidity risk, currency risks / control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
  • Securities exchanges in Mainland China markets typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Sub-Fund.

 

6. Risk associated with small and mid-capitalisation companies

  • The Sub-Fund may invest in small and/or mid-sized companies. The stock of small and mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general.

 

7. Emerging market risk

  • The Sub-Fund invests in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.

 

8. Currency risk

  • Underlying investments of the Sub-Fund may be denominated in currencies other than USD (the base currency of the Sub-Fund). The Sub-Fund is subject to the fees and charges associated with the conversion of such other currencies to USD after receiving the proceeds of sale of the underlying investments, and vice versa when purchasing the underlying investments. The performance and the Net Asset Value of the Sub- Fund may therefore be affected unfavourably by movements in the exchange rate between USD and such other currencies and changes in exchange rate control policies.

 

9. Risks associated with ADRs

  • Exposure to ADRs may generate additional risks compared to a direct exposure to the underlying stocks, including the risk of non-segregation of the underlying stocks held by the depositary bank from the bank’s own assets and liquidity risks (as ADRs are often less liquid than the underlying stock). Bankruptcy events in respect of the depositary banks may lead to trading suspension and thereafter a freeze of the price of the ADRs affected, which may negatively affect the performance and/or liquidity of the Sub-Fund. Also, holders of ADRs generally do not have the same right as the direct shareholders of the underlying stocks. The performance of ADRs may also be impacted by the related fees.
  • In addition, there is a risk that the ADRs of Mainland Chinese companies may be delisted as a result of regulatory actions by the local government and/or stock exchange. In such an event, the value of such ADRs may be adversely affected as such ADRs could become difficult to trade and to value, and certain investors may not be allowed to invest in such ADRs. This may in turn have an adverse impact on the Net Asset Value of the Sub-Fund.

 

10. Trading risks

  • The trading price of the Shares on the SEHK is driven by market factors such as the demand and supply of the Shares. Therefore, the Shares may trade at a substantial premium or discount to the Net Asset Value of the Sub-Fund.
  • As investors will pay certain charges (e.g. trading fees and brokerage fees) to buy or sell Shares on the SEHK, investors may pay more than the Net Asset Value per Share when buying Shares on the SEHK, and may receive less than the Net Asset Value per Share when selling Shares on the SEHK

 

11. Trading time differences risks

  • As the stock exchanges in certain regions on which the underlying securities of the Sub-Fund are listed may be open when the Shares in the Sub-Fund are not priced, the value of the securities in the Sub-Fund’s portfolio may change on days when investors will not be able to purchase or sell the Sub-Fund’s Shares.
  • Differences in trading hours between the stock exchanges in such regions and the SEHK may also increase the level of premium or discount of the Share price to its Net Asset Value.

 

12. Early termination risk

  • The Sub-Fund may be terminated early under certain circumstances, for example, where there is no market maker, or if the size of the Sub-Fund falls below USD5 million. Any amount recovered by a shareholder on termination of the Sub-Fund may be less than the capital initially invested by the shareholder, resulting in a loss to the shareholder.

 

13. Reliance on market maker risks

  • Liquidity in the market for the Shares may be adversely affected if there is no or only one market maker for the Shares. The Manager will seek to mitigate this risk by ensuring that at least one market maker gives not less than 3 months’ notice prior to terminating market making arrangement under the relevant market maker agreement. It is possible that there is only one SEHK market maker for the Sub-Fund, or the Manager may not be able to engage a substitute market maker within the termination notice period of a market maker. There is no guarantee that any market making activity will be effective.

 

14. Distributions paid out of capital / effectively out of capital risk

  • Payments of distributions out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction in the Net Asset Value per Share of the Sub-Fund and will reduce the capital available for future investment.

 

Pando Innovation ETF (3056)

Overview Key information Download Related Documents Holdings

 

The Sub-Fund’s investment objective is to achieve long term capital growth by primarily investing in companies which are directly or indirectly involved in the provision of innovative products and/or services (“Innovative Business”).

 

Active Fund

Pando (the Manager) will use a bottom-up research approach in stock selection, meaning that each stock will be selected by the Manager for inclusion in the Sub-Fund’s portfolio based on its individual merits.

 

Strategy

In seeking to achieve the Pando Innovation ETF’s investment objective, the Pando Innovation ETF will invest primarily (i.e. at least 70% of its Net Asset Value) in equities of companies which are directly or indirectly involved in Innovative Business.

 

Innovative Business refers to companies that are leaders in innovation which are able to take advantage of new technologies, led by a management team with the vision to identify market needs that have yet to be fully expressed, and benefit from new industry conditions (such as secular changes in the way people communicate and behave) in the dynamically changing global economy. The following is a non-exhaustive illustration of companies that may be directly or indirectly involved in Innovative Business in which the Pando Innovation ETF will primarily invest: Information Technology; E-commerce; Internet; Online Entertainment; Autonomous & Electric Vehicles; Robotics & Artificial Intelligence; Video Games & E-sports; Blockchain; Fintech; Metaverse (i.e. a virtual-reality space in which users can interact with a computer-generated environment and other users); Semiconductor; Healthcare; Consumer Discretionary Sectors; and Social Media.

 

Key Information:

Key Operator:

Exchange

Hong Kong Stock Exchange - Main

Stock code

3056

Fund Listing Date

8 December 2022

Bloomberg Ticker

3056 HK EQUITY

ISIN

HK0000897592

Trading Board Lot

100 Shares

Base Currency

USD

Trading Currency

HKD

Asset Class

Equity

Equity Exposure

Stock-Based

Dealing frequency

Daily

Financial year end

31 March

Dividend Policy

Annually (usually in March of each year) *

Manager

Pando Finance Limited

Market Maker

China Merchants Securities (HK) Co., Limited

Custodian

BOCI-Prudential Trustee Limited

Fund Administrator

BOCI-Prudential Trustee Limited

Registrar

BOCI-Prudential Trustee Limited

Participating Dealers

·         China Merchants Securities (HK) Co., Limited

·         Mirae Asset Securities (HK) Limited

·         GF Securities (Hong Kong) Brokerage Limited

*Subject to the Manager's discretion. Distributions (if any) may be paid out of capital or effectively out of capital. Distributions on any shares will be in HKD only. There is no guarantee of regular distribution nor the amount being distributed (if any).

 

Fund Information

 

Date

Last^

Total NAV (USD)

 2023-01-26

4,223,726.51

Outstanding units

 2023-01-26

3,900,000

 

Fees:

Management Fee 0.75% per annum
Ongoing Charges#: 2.5%

#This is only an estimate because the Sub-Fund is newly established. It represents the estimated ongoing expenses chargeable to the Sub-Fund over a 12-month period expressed as a percentage of the estimated average net asset value (“Net Asset Value”) of the Sub-Fund over the same period. This figure may vary from year to year. The actual figure may be different from the estimated figure. For the period from the launch of the Sub-Fund to 7 December 2023, the ongoing charges of the Sub-Fund are capped at 2.50% of the average Net Asset Value of the Sub-Fund during this period. Any ongoing expenses exceeding 2.50% of the average Net Asset Value of the Sub-Fund during this period will be borne by the Manager and will not be charged to the Sub-Fund.

 

Performance:

Cumulative Performance
Reference Date: -

1-Month

3-Month

6-Month

1-Year

Year-to-date

Since inception

--

--

--

--

--

--

         

Annual Performance

2022

--

                                  

Last Update: 

  • Past performance is not indicative of future performance.
  • Fund performance is calculated on NAV to NAV basis in HKD and assumes dividend reinvestment.
  • The figures show by how much the ETF increased or decreased in value during the calendar year being shown.
  • Where no past performance is shown, there was insufficient data available for that period to provide performance.
  • The performance of the ETF may not reflect the return that the investor would actually be able to obtain as it does not capture the premium / discount of the ETF, or the trading costs.
  • Investment involves risks. Investors may not get back the full amount invested. Please refer to the offering documents for more information about the ETF (not just the risks)
  • Fund listing date : 8 Dec 2022

Intra-Day Estimated NAV Per Unit

Data Source: Solactive AG
updated at least every 15 seconds
The near real-time indicative Net Asset Value per Share in HKD and the last Net Asset Value per Share in HKD are indicative and for reference purposes only.
The near real-time indicative Net Asset Value per Share in HKD uses a real-time USD:HKD foreign exchange rate – it is calculated using the near real-time indicative Net Asset Value per Share in USD multiplied by a real-time USD:HKD foreign exchange rate quoted by Solactive AG when the SEHK is opened for trading. Since the near real-time indicative Net Asset Value per Share in USD will not be updated when any underlying share market is closed, any change in the near real-time indicative Net Asset Value per Share in HKD (if any) during such period is solely due to the change in the foreign exchange rate. Solactive AG performs the calculation of the near real-time indicative Net Asset Value per Share of the Sub-Fund.

Intra-Day Market Price

updated at least every 15 minutes

Market Information

 

Date

Last

Daily Change

Daily of Change (%)

Last closing price in HKD  2023-01-26 8.43 +0.29 3.56%
Last NAV per unit in HKD^  2023-01-26 8.4769 +0.1731 +2.08%
Last NAV per unit in USD  2023-01-26 1.0830 +0.0219

+2.06%

Total NAV in HKD  2023-01-26 33,059,740.95 +675,182.11 +2.08%

^The last Net Asset Value per Share referred to above is indicative and for reference purposes only and is calculated using the last Net Asset Value per Share in USD multiplied by an assumed foreign exchange rate using the USD:HKD exchange rate quoted by Bloomberg at 4:00 pm (London time) as of the same Dealing Day provided by the Administrator. The Administrator performs the calculation of the last Net Asset Value per Share of each Sub-Fund.

 

Download Related Document

Please click here to download document

 

 

Holdings ( 30 Dec, 2022) + Download
Company Name Ticker Weights
HEWLETT PACKARD ENTERPRISE CO HPE UN 5.27%
VISA INC - A V UN 4.68%
TEXAS INSTRUMENTS INC TXN UW 4.40%
TENCENT HLDGS LTD 700 HK 4.38%
ACCENTURE PLC-CL A ACN UN 4.37%
NETEASE INC-ADR NTES UW 4.01%
UNITEDHEALTH GROUP INC UNH UN 3.80%
VERIZON COMMUNICATIONS INC VZ UN 3.10%
APPLE INC AAPL UW 3.06%
TRIMBLE NAVIGATION LTD TRMB UW 2.97%
CISCO SYSTEMS INC CSCO UW 2.88%
BAIDU INC-ADR BIDU UW 2.81%
QUALCOMM INC QCOM UW 2.81%
ELECTRONIC ARTS INC EA UW 2.63%
MICROSOFT CORP MSFT UW 2.45%
SAP SE-SPONSORED ADR SAP UN 2.43%
ALIBABA GROUP HLDG LTD 9988 HK 2.26%
ALPHABET INC-CL A GOOGL UW 2.26%
THERMO FISHER SCIENTIFIC INC TMO UN 2.25%
MASTERCARD INC-A MA UN 2.13%
TAIWAN SEMICONDUCTOR MANUFACTURING CO-ADR TSM UN 1.98%
DOCUSIGN INC DOCU UW 1.98%
BYD CO LTD-H 1211 HK 1.94%
MICRON TECHNOLOGY INC MU UW 1.94%
ORACLE CORP ORCL UN 1.84%
ASML HLDG NV-NY REG ASML UW 1.68%
ROCKWELL AUTOMATION INC ROK UN 1.58%
ADOBE INC ADBE UW 1.38%
INFOSYS LTD-ADR INFY UN 1.31%
JD.COM INC-ADR JD UW 1.26%
NVIDIA CORP NVDA UW 1.20%
BROADCOM INC AVGO UW 1.14%
ACTIVISION BLIZZARD INC ATVI UW 1.02%
INTL BUSINESS MACHINES CORP IBM UN 1.01%
AUTODESK INC ADSK UW 0.96%
HONEYWELL INTL INC HON UW 0.88%
INTEL CORP INTC UW 0.65%
ADVANCED MICRO DEVICES INC AMD UW 0.60%
ABB LTD-SPON ADR ABB UN 0.56%
COINBASE GLOBAL INC-CL A COIN UW 0.56%
VERISK ANALYTICS INC VRSK UW 0.54%
TAKE-TWO INTERACTIVE SOFTWARE INC TTWO UW 0.53%
ANSYS INC ANSS UW 0.49%

Disclaimer

 

 

Please read the following information carefully before proceeding.

 

The information contained in this website has been prepared to assist potential investors in making an informed decision in relation to investing in the ETFs / products under PANDO. A product key facts statement and prospectus for the ETFs / products under the ETFs which contain the key features and risks are also issued by the manager and available in this website.

 

The contents of this website have been prepared in good faith. However, the prices quoted are for reference only and may be subject to change without prior notice. Past performance is not a reliable indicator of future performance. The value of ETFs / products can fluctuate substantially within a short period of time. Pando Finance Limited has no warranty of accuracy or reliability is given and no responsibility arising in any way for errors or omissions.

 

An investment in any ETFs / products carries various risks. Each of these may affect the net asset value, yield, total return and trading price of the units. There can be no assurance that the investment objectives of ETFs will be achieved. You should carefully evaluate the merits and risks of an investment in the relevant ETFs / products in the context of your overall financial circumstances, knowledge and experience as an investor. The offering document should be read for further details including the risk factors.

 

ETF / product under the OFC are authorized by the Securities & Futures Commission in Hong Kong (the “SFC”) under Section 104 of the Securities and Futures Ordinance. However, the SFC takes no responsibility for the financial soundness of the ETFs / products under the Trusts or for the correctness of any statements made in this website. SFC authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.

 

You should consult your financial adviser, consult your tax advisers and take legal advice as appropriate as to whether any governmental or other consents are required, or other formalities need to be observed, to enable you to acquire units as to whether any taxation effects, foreign exchange restrictions or exchange control requirements are applicable and to determine whether any investment in the ETFs / products is appropriate for you.

 

The advertisement has not been reviewed by the Commission.

For any questions or complaints, please contact the manager at its address as set out in the “Contact Us” or call the manager on +852-38913288 during normal office hours.

 

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