iShares FTSE A50 China Index ETF* (* This is a synthetic ETF) (2823)
Intraday NAV & Market Price1
as of
| Time | (HKD) | |
| Estimated NAV | ||
| Market Price |
Market Information2
| Last | Change ($) | Change (%) | |
|
NAV (as of 19 June 2013) |
$ 9.4802 | $ -0.1015 | -1.06% |
|
Closing Price (as of 19 June 2013) |
$ 9.63 | $ -0.17 | -1.73% |
Annual Returns7
| 2008 | 2009 | 2010 | 2011 | 2012 | |
| 2823 | -66.20 | 80.93 | -21.34 | -15.00 | 10.38 |
| Benchmark Index | -65.50 | 85.76 | -19.29 | -13.45 | 15.50 |
Trading Information & Fund Identifier
|
Hong Kong Stock Exchange
Primary Exchange |
|
GMT+8
Primary Exchange Time Zone |
|
2823
Exchange Ticker |
|
2823 HK
Bloomberg Ticker |
|
100 Units
Trading Board Lot |
| Trading Currency |
|
2823NAV
Bloomberg NAV |
|
2823IV
Bloomberg iNAV |
|
2823SHO
Bloomberg Shares Outstanding |
|
B046M96
SEDOL |
|
HK2823028546
ISIN |
|
2823.HK
Reuters Code |
Benchmark Index Information3
as of 18 June 2013
|
FTSE China A50 Index
Benchmark Index |
|
FTSE International Limited
Benchmark Index Provider |
|
CNY
Currency (CNY)
|
|
9,092.85
Closing Level (CNY)
|
|
12,143.65
Closing Level (HKD) |
|
75.67
Change (HKD) |
|
0.63%
Change % (HKD) |
|
Gross Total Return
Benchmark Level Type |
|
TXIN9IC
Bloomberg Total Return Index |
Profile
as of 19 June 2013
The iShares FTSE A50 China Index ETF* (*This is a synthetic ETF) (the “Index Fund”), a sub-fund of the iShares Asia Trust, seeks to provide investment results that correspond generally to the performance, before fees and expenses, of publicly traded securities ("A-shares") in the China market, as measured by the FTSE China A50 Index ("Index"). The Index is designed to represent the performance of the largest companies in the China equity markets and consists of 50 of the largest liquid Chinese companies. Securities in the Index are weighted based on the total market value of their shares, so that securities with higher total market values generally have a higher representation in the Index. All of the securities in the Index trade on Shanghai and Shenzhen Stock Exchange.
The Index Fund was formerly named iShares FTSE/Xinhua A50 China Index ETF and has been renamed to iShares FTSE A50 China Index ETF* (*This is a synthetic ETF) with effect from November 26, 2010.
- The Index Fund aims to provide investment results that, before fees and expenses, closely correspond to the performance of its underlying index, which is an index consisting the top 50 A-Share companies by market capitalization listed on the Shanghai Stock Exchange or the Shenzhen Stock Exchange.
- The Index Fund does not invest in or hold A-Shares directly.
- The Index Fund invests primarily in derivative instruments. These derivative instruments, referred to as China A-Share Access Products (“CAAPs”) are linked to A-Shares or the underlying index and are intended to provide economic performance equivalent to holding the underlying A-Shares.
- The qualified foreign Institutional investors (“QFII”) policy and rules are subject to change and any such change could adversely impact the Index Fund. In the worst case scenario, this could lead to CAAPs not being able to be issued and the Index Fund having to be terminated.
- The Index Fund is subject to counterparty risk associated with each CAAP Issuer and may suffer losses to the extent that the value of collateral is less than the value of CAAPs delivered by a CAAP Issuer. Any loss would result in a reduction in the net asset value of the Index Fund and impair the ability of the Index Fund to achieve its investment objective to track its underlying index. In the event of any default by a CAAP Issuer dealing may be suspended and the Index Fund may not continue to trade.
- Changes in the net asset value of the Index Fund may deviate from the performance of the Underlying Index due to factors such as fees and expenses, liquidity of the index constituents, as well as changes to the Underlying Index. The tracking error risk is also heightened by the significant amount of collateral required to be posted to the Index Fund to collateralize all counterparty exposures.
- PRC withholding tax is not currently enforced on capital gains realised by QFIIs on the sale of A-Shares. There is a risk the PRC tax authorities may seek to collect capital gains tax (“PRC CGT”) without giving any prior warning, and possibly, on a retrospective basis. Any PRC CGT levied on and payable by a QFII may be passed on to the Index Fund to the extent that the tax is attributable to their issue of CAAPs to the Index Fund. Certain CAAP Issuers may withhold an amount equal to 10% of any gain on a CAAP on account of PRC CGT. Tax provisions are not made at the Index Fund level and therefore any retrospective enforcement may result in a substantial loss to the Index Fund.
- The Index Fund is subject to concentration risk as a result of investing into a single country and sector. In addition, generally, investments in, or linked to, emerging markets, such as the market for A-Shares, are subject to a greater risk of loss than investments in a developed market due to greater political, economic, taxation and regulatory uncertainty and risks linked to volatility and market liquidity, etc.
- The Manager may at its discretion pay dividends out of the capital of the Index Fund. Payment of dividends 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 distributions involving payment of dividends out of the Index Fund’s capital may result in an immediate reduction of the Net Asset Value per Unit.
- The units of the Index Fund are traded on the SEHK. Their prices on the SEHK are based on secondary market trading factors and may deviate significantly from the net asset value of the Index Fund.
| Asset Class | Equity |
| Total Net Assets ('000,000) | $ 50,794.68 |
| Management Fee4 | 0.99% |
| Outstanding Units/Shares | 5,358,000,000 |
| Number of Holdings | 52 |
| Fund Inception Date | 15 November 2004 |
| SEHK Listing Date | 18 November 2004 |
| Domicile | Hong Kong |
| Base Currency | HKD |
Top 10 Holdings5
as of 19 June 2013
(access to A-Shares obtained through CAAPs)
|
7.27
PING AN INSURANCE (GROUP) CO. OF C
|
|
|
5.98
CHINA MINSHENG BANKING CORP. LTD.
|
|
|
5.64
CHINA MERCHANTS BANK CO. LTD A
|
|
|
5.06
SHANGHAI PUDONG DEVELOPMENT BANK C
|
|
|
4.79
INDUSTRIAL BANK CO. LTD.
|
|
|
4.11
CHINA VANKE CO. LTD.
|
|
|
3.64
BANK OF COMMUNICATIONS CO. LTD.
|
|
|
3.54
KWEICHOW MOUTAI CO. LTD.
|
|
|
3.16
INDUSTRIAL & COMMERCIAL BANK OF CH
|
|
|
3.13
HAITONG SECURITIES CO. LTD.
|
|
|
Total
46.32%
|
Top 10 Sectors6
as of 19 June 2013
|
66.15
Financials
|
|
|
10.87
Consumer Goods
|
|
|
9.17
Industrials
|
|
|
5.42
Basic Materials
|
|
|
3.49
Oil & Gas
|
|
|
2.06
Utilities
|
|
|
1.44
Telecommunications
|
|
|
0.39
Consumer Services
|
|
|
Total
99.00%
|
Participating Dealers
| Barclays Bank PLC |
| Citigroup Global Markets Asia Limited |
| CLSA Limited |
| Credit Suisse Securities (Hong Kong) Limited |
| ABN AMRO Clearing Hong Kong Limited |
| Goldman Sachs (Asia) Securities Limited |
| The Hongkong and Shanghai Banking Corporation Limited |
| ING Bank N.V. |
| J.P. Morgan Broking (Hong Kong) Limited |
| Macquarie Bank Limited |
| Merrill Lynch Far East Limited |
| Morgan Stanley Hong Kong Securities Limited |
| RBS Asia Limited |
| Standard Chartered Bank (Hong Kong) Limited |
| UBS Securities Hong Kong Limited |
All dollar amounts are in HKD. All dates are in GMT+8 Time. Any exceptions are noted.
1. Estimated NAV is indicative only and is provided on a delayed basis by Interactive Data Managed Solutions. (See terms and conditions) Market prices are provided on a delayed basis by Interactive Data Managed Solutions. (See terms and conditions).
2. Performance is calculated on NAV to NAV basis in HKD and assumes dividend reinvestment. Change indicates the change since the previous business day. Refer to the Prospectus for more information on determination of Net Asset Value.
3. Index returns are for illustrative purposes only and are not indicative of future results. Index returns do not reflect any management fees, transaction costs or expenses. Change indicates the change since the previous business day's closing index level. Source: FTSE, Reuters. Exchange Rates as of 4:00pm London Time (Source: WM/Reuters).
4. The Management Fee is a measure of the cost associated with managing and operating the fund including management and trustee fees but excluding investment costs such as brokerage and access product charges. For complete information on fees and charges, please refer to the Prospectus.
5. Click here to view the table that describes the approximate exposure to each CAAP Issuer as a percentage of NAV.
6. As a percentage of NAV of the Fund.
7. Represents performance figures for each year ended 31 December, unless otherwise stated.
Source: Fund performance and index data are provided by BlackRock and the relevant index providers respectively.
Investing involves risk, including possible loss of principal. Investment in emerging market countries may involve heightened risks such as increased volatility and lower trading volume, and may be subject to a greater risk of loss than investment in a developed country. Investors should be aware that the price of shares of the iShares Funds, and the income from them (if any), may fall as well as rise, and investors may not get back their original investment. Before investing, you should carefully consider the investment objectives, risks, charges and expenses and all other information contained in the relevant prospectus which is available upon request from BlackRock.
Past performance may not be repeated and is no guide for future performance or returns. Performance is calculated on a single pricing basis (NAV to NAV) in base currency, inclusive of all transaction fees and assumes dividend reinvestment. Index returns are for illustrative purposes only and do not represent actual iShares Funds or iShares Trusts performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.
iShares Funds are not sponsored, endorsed, issued, sold or promoted by their index providers. For details of the index provider including any disclaimer, please refer to the relevant iShares Fund offer document.
Source: Fund performance and index data are provided by BlackRock and the relevant index providers respectively.
