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READ THESE TERMS AND CONDITIONS (“Terms”) CAREFULLY BEFORE REGISTERING OR USING THE SERVICES DESCRIBED ON THE WEBSITE LOCATED AT www.spdbi.com. By clicking the “Accept” button, you consent to be bound by all the terms set out herein. If you do not agree with any of these terms, you are not an authorized user for these services and you should not use this website. Please click “Do not Accept” button and leave this website.

The information contained in this website is for information purposes only and does not constitute an invitation or recommendation to invest in the units. The information provided or published on this website is restricted to Hong Kong residents who are not U.S. persons and to any person in any jurisdiction in which it is lawful to do so. By accessing this website, you represent and warrant that you are a non-U.S. person resident in Hong Kong and that the applicable laws and regulations of the jurisdiction in which you are resident permit you to access this website.

Investment involves risks and past performance is not indicative of future performance. Investors may suffer a loss of principal. Please read the Fund's Prospectus and all relevant information carefully for details before investing, including Risk Factors.

The information contained in this website is derived from third-party information from sources believed to be credible, and SPDB International Investment Management Company Limited (SPDBI IM) does not make any representation or warranty as to the accuracy or completeness of such content. Any forecasts or other statements regarding future events or performance of countries, markets or companies may not be indicative and may differ from actual events or results.

The information contained on this Website is subject to copyright with all rights reserved. It must not be reproduced, copied or redistributed in whole or in part without the written authority of SPDBI IM.

Contents in any other related organisations, data providers or other content providers (if any) provided by hyperlinks on this website are completely beyond the control of SPDBI IM. As such, SPDBI IM shall not be held responsible for the completeness, legality and accuracy of the contents shown on this website.

The contents on this webpage is issued by SPDBI IM and has not been reviewed by the Securities and Futures Commission.

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SPDB International Investment Management Company Limited

Important Information

Important Information about SPDBI US Dollar Money Market Fund 

1. The SPDBI US Dollar Money Market Fund  (the "Sub-Fund") is subject to normal market fluctuations and other risks inherent in the Sub-Fund’s assets. Accordingly, there is a risk that you may not recoup the original amount invested in the Sub-Fund or may lose a substantial part or all of your investment.


2. The purchase of a Unit in the Sub-Fund is not the same as placing funds on deposit with a bank or deposit-taking company. The Sub-Fund does not guarantee principal and the Manager has no obligation to redeem the Units at the offer value. The Sub-Fund does not have a constant Net Asset Value. The Sub-Fund is not subject to the supervision of the Hong Kong Monetary Authority.


3. The Sub-Fund invests primarily in short-term deposits and debt securities. The Sub-Fund seeks to achieve a return in US Dollars in line with prevailing money market rates, with primary considerations of both capital security and liquidity. There can be no assurance that the Sub-Fund will achieve its investment objective.


4. The Sub-Fund may be subject to (1) Investment risk, (2) Risks associated with debt securities (including Short-term debt instruments risk, Credit/counterparty risk, Interest rate risk, Sovereign debt risk, Credit rating risk and downgrading risk and Valuation risk), (3) Risks associated with bank deposits, (4) Risks relating to repurchase agreements, (5) Concentration risk, (6) Hedging / derivative risk, (7) Currency risk, (8) RMB currency risk and RMB denominated classes risk and (9) Hedged RMB denominated classes risk.


5. You should not invest in the Sub-Fund unless the intermediary who sells it to you has explained to you that the Sub-Fund is suitable for you having regard to your financial situation, investment experience and objectives.


6. The Manager currently intends to make dividend distribution once per year in respect of the distribution classes; actual dividend payout will be subject to the Manager’s discretion. Dividend rate is not indicative of fund performance. A positive dividend yield does not imply a positive return. Past dividend rate is not indicative of future dividend rate.


7. Investors should not invest in the Sub-Fund based on this document alone. Before making any investment decision, the investor should read the Sub-Fund’s offering documents carefully including the risk factors. 

Fund Details

Investment Objective

The Sub-Fund's sole objective is to invest in short-term deposits and high quality money market instruments. The Sub-Fund seeks to achieve a return in US Dollars in line with prevailing money market rates, with primary considerations of both capital security and liquidity.

Investment Strategy

Primary investments
The Sub-Fund seeks to achieve its objective by investing not less than 70% of its Net Asset Value in USD denominated and settled short-term deposits, high quality money market instruments of varying maturities issued by governments, quasi-governments, international organizations, financial institutions and corporates globally, and such other securities as permitted by the Securities and Futures Commission (“SFC”)’s Code on Unit Trusts and Mutual Funds (the “UT Code”). Investments in non-USD denominated and settled short-term deposits and high quality money market instruments may be up to 30% of the Net Asset Value of the Sub-Fund. The Manager may hedge any non-USD denominated investments into USD in order to manage any material currency risk.
Money market instruments refer to securities normally dealt in on the money markets, for example, fixed income and debt securities (including fixed and floating rate securities and government bills), commercial papers, certificates of deposit, short-term notes, commercial bills and bankers' acceptance. In assessing whether a money market instrument is of high quality, at a minimum, the credit quality and the liquidity profile of the money market instruments must be taken into account.

Weight average maturity and weighted average life
The Sub-Fund will maintain a portfolio with weighted average maturity not exceeding 60 days and a weighted average life not exceeding 120 days and will not purchase an instrument with a remaining maturity of more than 397 days, or 2 years in the case of government and other public securities.

Credit quality
The Sub-Fund will only invest in high quality short-term or short-term remaining maturity fixed income and debt securities rated investment grade or fixed income and debt instruments with issuers of investment grade rating if the instrument itself does not have a credit rating.
Short-term fixed income and debt securities are considered investment grade if their credit ratings or the credit ratings of their issuers are rated A-3 or higher by Standard & Poor’s, or F3 or higher by Fitch, or P-3 or higher by Moody’s, or equivalent rating as rated by one of the international credit rating agencies.
While the Sub-Fund does not intend to invest in fixed income and debt securities with a long term to maturity remaining at the time of investment, the long-term credit ratings will be considered where the Sub-Fund invests in fixed income and debt securities which have been rated long-term credit ratings, but have a shorter term to maturity remaining at the time of investment (subject to the requirements on remaining maturity, weighted average maturity and weighted average life of the portfolio of the Sub-Fund as set out above). For such securities, investment grade means Baa3 or BBB- or above by Standard & Poor’s, Fitch, Moody’s or another recognized credit rating agency for the security or its issuer.
For Mainland China onshore fixed income and debt securities, investment grade means AAA (long-term) or A-1 (short-term) or above by China Chengxin International Credit Rating Co., Ltd or China Lianhe Credit Rating Co., Ltd, or equivalent ratings by one of the local rating agencies recognized by the relevant authorities in Mainland China.
In the case of split credit ratings between different credit rating agencies, the highest rating shall apply.
While the credit ratings provided by the relevant rating agencies serve as a point of reference, the Manager will conduct its own assessment on the credit quality based on various factors including the issuer’s and/or the guarantor’s (if applicable) financial leverage, interest coverage, operating cash flows, industry outlook and competitive position, as well as corporate governance.
The Sub-Fund will not invest in securities issued or guaranteed by any sovereign issuer (including its government, a public or local authority) with a credit rating below investment grade or is unrated.

Liquidity profile
The Manager will assess the liquidity profile of instruments based on various factors, included but not limited to time to cash, external liquidity classification, liquidation horizon, daily trading volume, price volatility and bid-ask spread of such instruments. Only instruments which fulfil the Manager’s liquidity requirements will be included in the portfolio of the Sub-Fund.

Geographical exposure
The Sub-Fund may invest up to 30% of its Net Asset Value in any single country or region other than Greater China (including China onshore market, China offshore market, Hong Kong, Macau and Taiwan) and the United States. The Sub-Fund may invest in aggregate up to 100% of its Net Asset Value in Greater China and the United States.
The Sub-Fund may invest up to 30% of its Net Asset Value in short-term and high quality onshore China fixed income and debt securities, such as government bonds, policy bank bonds, negotiable certificates of the deposits, via the Manager's Qualified Foreign Investor (“QFI”) status or the mutual bond market access between Hong Kong and Mainland China (“Bond Connect”).

Other ancillary investments
The Sub-Fund may invest up to 15% of its Net Asset Value in short-term and high quality asset-backed securities such as asset-backed commercial papers.
The Sub-Fund may invest less than 10% of its Net Asset Value in short-term and high quality urban investment bonds (城投債), which are debt instruments issued by Mainland Chinese local government financing vehicles ("LGFVs"), which are separate legal entities established by local governments and/or their affiliates to raise financing for public welfare investment or infrastructure projects.
The Sub-Fund may invest less than 10% of its Net Asset Value in short-term and high quality convertible bonds. It is not intended that the Sub-Fund will hold equity securities converted from such convertible bonds.
The Sub-Fund may invest up to 10% of its Net Asset Value in aggregate in money market funds that are authorized by the SFC under 8.2 of the UT Code or regulated in a manner generally comparable with the requirements of the SFC and acceptable to the SFC.
The Sub-Fund will not invest in debt instruments with loss-absorption features.

Securities financing transactions, financial derivative instruments and borrowing
The Sub-Fund may enter into Sale and Repurchase Transactions (i.e. transactions whereby the Sub-Fund sells its securities to a counterparty of Reverse Repurchase Transactions and agrees to buy such securities back at an agreed price with a financing cost in the future) provided that the amount of cash received by the Sub-Fund under such transactions may not in aggregate exceed 10% of its Net Asset Value. The Sub-Fund may engage in Reverse Repurchase Transactions (i.e. transactions whereby the Sub-Fund purchases securities from a counterparty of Sale and Repurchase Transactions and agrees to sell such securities back at a pre-determined price in the future) provided that the aggregate amount of cash provided to the same counterparty in reverse repurchase agreements may not exceed 15% of the Net Asset Value of the Sub-Fund. The Sub-Fund will not engage in Securities Lending Transactions.
The Sub-Fund may invest in financial derivative instruments (including but not limited to interest rate swaps and currency swaps) for hedging purposes only.
The Sub-Fund may borrow up to 10% of its Net Asset Value but only on a temporary basis for the purpose of meeting redemption requests or defraying operating expenses.

Spread of investments
The aggregate value of the Sub-Fund's holding of instruments and deposits issued by a single entity may not exceed 10% of its Net Asset Value except: (i) where the entity is a substantial financial institution and the total amount does not exceed 10% of the entity's share capital and non-distributable capital reserves, the limit may be increased to 25%; (ii) in the case of government and other public securities, up to 30% may be invested in the same issue; or (iii) in respect of any deposit of less than USD 1,000,000 of the Sub-Fund, where the Sub-Fund cannot otherwise diversify as a result of its size.
The aggregate value of the Sub-Fund’s investments in entities within the same group through instruments and deposits may not exceed 20% of its Net Asset Value except: (i) where the entity is a substantial financial institution and the total amount does not exceed 10% of the entity's share capital and non-distributable capital reserves, the limit may be increased to 25%; or (ii) in respect of any deposit of less than USD 1,000,000 of the Sub-Fund, where the Sub-Fund cannot otherwise diversify as a result of its size.

Investment and borrowing restrictions
The Sub-Fund may borrow up to 10% of its Net Asset Value but only on a temporary basis for the purpose of meeting redemption requests or defraying operating expenses.
The Sub-Fund is a Money Market Fund and is subject to the investment and borrowing restrictions applicable to a Money Market Fund as set out in Schedule 1 to the Prospectus.

Use of derivatives
The Sub-Fund may use financial derivative instruments (including but not limited to interest rate swaps and currency swaps) for hedging purposes only. The currency risk of the Sub-Fund will be appropriately managed. In particular, any material currency risk will be appropriately hedged where the Sub-Fund invests in assets that are not denominated in USD.
The Sub-Fund’s net derivative exposure may be up to 50% of the Sub-Fund’s Net Asset Value.

Securities Financing Transactions
The Sub-Fund may enter into Sale and Repurchase Transactions provided that the amount of cash received by the Sub-Fund under such transactions may not in aggregate exceed 10% of its Net Asset Value.
The Sub-Fund may engage in Reverse Repurchase Transactions provided that the aggregate amount of cash provided to the same counterparty in reverse repurchase agreements may not exceed 15% of the Net Asset Value of the Sub-Fund.
The Sub-Fund will not engage in Securities Lending Transactions.

Fund Overview

Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class A
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
USD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.20% (p.a.)
Minimum Subscription Amount：
USD 100
Minimum Holding Amount：
USD 100
Minimum Redemption Amount：
USD 100
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class A
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
HKD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.20% (p.a.)
Minimum Subscription Amount：
HKD 1,000
Minimum Holding Amount：
HKD 1,000
Minimum Redemption Amount：
HKD 1,000
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class B
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
USD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.60% (p.a.)
Minimum Subscription Amount：
USD 1
Minimum Holding Amount：
USD 1
Minimum Redemption Amount：
USD 1
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class B
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
HKD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.60% (p.a.)
Minimum Subscription Amount：
HKD 1
Minimum Holding Amount：
HKD 1
Minimum Redemption Amount：
HKD 1
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class I
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
USD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.05% (p.a.)
Minimum Subscription Amount：
USD 1,000
Minimum Holding Amount：
USD 1,000
Minimum Redemption Amount：
USD 1,000
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
Asset Class：
Money Market
Domicile：
Hong Kong
Class：
Class I
Base Currency：
USD
Dealing Frequency：
Daily
Share Class Currency：
HKD
Subscription Fee：
Up to 3%
Redemption Fee：
Up to 3%
Conversion Fee：
Up to 3%
Management Fee：
0.05% (p.a.)
Minimum Subscription Amount：
HKD 10,000
Minimum Holding Amount：
HKD 10,000
Minimum Redemption Amount：
HKD 10,000
Inception Date：
31 January 2024
Fund Manager：
SPDB International Investment Management Limited
Custodian：
ICBC (Asia) Trustee Company Limited
As of 25 January 2024, SPDB International Investment Management Company Limited

Portfolio Allocation

Portfolio Allocation

Duration Allocation

Top 5 Holdings (% of Total NAV)

Average Maturity

Yield to Maturity

Fund Price and Performance

Fund Price

Class
Currency
Dealing Date
Net Asset Value per Unit
Class A USD
USD
29 April, 2024
10.1295
Class A HKD
HKD
-
-
Class B USD
USD
-
-
Class B HKD
HKD
29 April, 2024
10.1423
Class I USD
USD
29 April, 2024
10.1333
Class I HKD
HKD
-
-
As of 29 April 2024, SPDB International Investment Management Company Limited

Since Launch Performance

Cumulative Return

Class
Class A USD
Class A HKD
Class B USD
Class B HKD
Class I USD
Class I HKD

Year Performance

Class
Class A USD
Class A HKD
Class B USD
Class B HKD
Class I USD
Class I HKD

Distubutors

SPDBI Securities Limited
Source of data: SPDB International Investment Management Company Limited

Fund Documents

Offering Documents
Source of data: SPDB International Investment Management Company Limited

Announcements and Notices

 

 

 

SPDB International Investment Management Limited is the issuer of this website. This website is neither an offer nor solicitation to purchase units of the fund; applications for units may only be made on forms of application available with the Prospectus. Investments are subject to investment risks, fund value may go up as well as down and past performance is not indicative of future performance. Investors should read carefully the Prospectus (including the section “Risk Factors”) for the relevant risks associated with the investment in the fund before investing.
Distribution of this website may be restricted in certain jurisdictions. This website does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a website or make such an offer or solicitation. This website is exempted from pre-vetting and authorization by the Securities and Futures Commission of Hong Kong and has not been reviewed by the Securities and Futures Commission of Hong Kong.
Authorization of Securities and Futures Commission of Hong Kong 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.

Source of data: SPDB International Investment Management Company Limited