Nikko AM China Onshore Bond Fund - RMB Class

ISIN: SG9999012025
Bloomberg Ticker:NAMCOBF SP

Investment Objective

The investment objective of the Fund is to provide a total return of capital growth and income over the medium to long-term. In order to achieve its investment objective, the Fund will invest by virtue of the quota and capacity under the Renminbi Qualified Foreign Institutional Investors (RQFII)framework, primarily in a portfolio of fixed income instruments issued onshore in the PRC.

Although the Fund will invest primarily in Onshore RMB Income Instruments, the Fund may, at the absolute discretion of the Managers, invest in fixed income instruments issued offshore outside of the PRC and that are denominated in RMB as well.

The Fund may also invest in fixed income instruments issued by Chinese entities that are denominated in currencies other than the RMB. Please note the Managers in their absolute discretion may elect to hedge the currency exposure of the Fund's investments in Non-RMB Income Instruments back to the base currency of the Fund (i.e. RMB). The Fund may also invest in investment grade bonds and non-investment grade bonds, all of which will be subject to a minimum credit rating of "B-" by Standard & Poors or an equivalent rating by Investors Service or Fitch Ratings. If a credit rating is not available from any of the 3 aforementioned rating agencies, the Managers will use its internal credit rating to ensure that the Fund is in compliance with the above creditrating requirements. There is no target industry or sector.

Fund Details

Up to 5.00%
0.9% p.a.
RMB 5,000
RMB 500

Performance (RMB)

Return (%) 3 m 6 m 1 yr 3 yr 5 yr Since Inception
NAV-NAV 0.38 0.69 1.84 -0.39 1.40 2.29
NAV-NAV (with charges1) -4.64 -4.34 -3.25 -2.08 0.37 1.70
Source: Nikko Asset Management Asia Limited as of 31 July 2023
Returns are calculated on a NAV-NAV basis and assuming all dividends and distributions are reinvested, if any. Returns for period in excess of 1 year are annualised. Past performance is not indicative of future performance.

1 Takes into account of maximum initial sales charge and a realisation charge, currently nil, as and where applicable.

Fund Holdings

Top 10 Holdings Weight
BANK OF CHINA LIMITED 3.25% 24-JAN-2032 9.9 %
GOVERNMENT OF CHINA 2.44% 15-OCT-2027 9.8 %
CHINA DEVELOPMENT BANK 2.59% 11-JAN-2026 4.9 %
GOVERNMENT OF CHINA 3.01% 13-MAY-2028 4.0 %
GOVERNMENT OF CHINA 3.03% 11-MAR-2026 3.0 %
Source: Nikko Asset Management Asia Limited as of 31 July 2023 .

Country Allocation (%)

Source: Nikko Asset Management Asia Limited as of 31 July 2023 .
Cash in allocation charts includes cash equivalents.
Percentages of allocation may not add to 100% due to rounding error.

Sector Allocation (%)

Source: Nikko Asset Management Asia Limited as of 31 July 2023 .
Cash in allocation charts includes cash equivalents.
Percentages of allocation may not add to 100% due to rounding error.
Important Information

The funds mentioned are Singapore registered funds approved for sale or purchase in Singapore. By proceeding, you are representing and warranting that you are either resident in Singapore or the applicable laws and regulations of your jurisdiction allow you to access the information.

This document is purely for informational purposes only with no consideration given to the specific investment objective, financial situation and particular needs of any specific person. It should not be relied upon as financial advice. Any securities mentioned herein are for illustration purposes only and should not be construed as a recommendation for investment. You should seek advice from a financial adviser before making any investment. In the event that you choose not to do so, you should consider whether the investment selected is suitable for you. Investments in funds are not deposits in, obligations of, or guaranteed or insured by Nikko Asset Management Asia Limited (“Nikko AM Asia”).

Past performance or any prediction, projection or forecast is not indicative of future performance. The Fund or any underlying fund may use or invest in financial derivative instruments. The value of units and income from them may fall or rise. Investments in the Fund are subject to investment risks, including the possible loss of principal amount invested. You should read the relevant prospectus (including the risk warnings) and product highlights sheet of the Fund, which are available and may be obtained from appointed distributors of Nikko AM Asia or our website ( before deciding whether to invest in the Fund.

The information contained herein may not be copied, reproduced or redistributed without the express consent of Nikko AM Asia. While reasonable care has been taken to ensure the accuracy of the information as at the date of publication, Nikko AM Asia does not give any warranty or representation, either express or implied, and expressly disclaims liability for any errors or omissions. Information may be subject to change without notice. Nikko AM Asia accepts no liability for any loss, indirect or consequential damages, arising from any use of or reliance on this document. This advertisement has not been reviewed by the Monetary Authority of Singapore.

The Central Provident Fund (“CPF”) Ordinary Account (“OA”) interest rate is the legislated minimum 2.5% per annum, or the 3-month average of major local banks' interest rates, whichever is higher, reviewed quarterly. The interest rate for Special Account (“SA”) is currently 4% per annum or the 12-month average yield of 10-year Singapore Government Securities plus 1%, whichever is higher, reviewed quarterly. Only monies in excess of $20,000 in OA and $40,000 in SA can be invested under the CPF Investment Scheme (“CPFIS”). Please refer to the website of the CPF Board for further information. Investors should note that the applicable interest rates for the CPF accounts and the terms of CPFIS may be varied by the CPF Board from time to time.

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