Fact sheet: Allianz TotRtnAsnEq

Fund information
Fund name
Allianz Total Return Asian Equity A NAV USD
Fund manager company
Allianz Global Investors GmbH
Fund type
Offshore Fund
Fund managers
  • Raymond Chansince 01/10/2013
  • Pan Yu Mingsince 01/10/2013
Fund objective
The fund concentrates on stocks of companies that are domiciled in Korea, Taiwan, Thailand, Hong Kong, Malaysia, Indonesia, the Philippines, Singapore and China or that derive a predominate portion of their revenue or profits from there. Its aim is to attain steady income and capital growth over the long term.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
None
Investment method
Shares
Quick stats
1 Year return
12.3%
1 Year rank in sector
146/171
Sector
FO Equity - Asia Pacific ex Japan
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
2.01%
Fund size
£324m (£357m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
118
Top in this sector
Fund name1 Year
TT International Asia Pac Eq50.8%
Fidelity Asn Spec Sits45%
Matthews Asia Pacific Tiger44.4%
Veritas Asian44.3%
Hermes AsexJap Eq44.2%
...more in FO Equity - Asia Pacific ex Japan

Performance snapshot

Holdings snapshot

  • China19.2%
    Hong Kong17.5%
    Korea10.8%
    Indonesia10.4%
    India9.8%
  • Financials21.7%
    Information Technology17.7%
    Industrials12.6%
    Consumer Discretionary11%
    Telecommunications Utilities8.7%
  • Chinese Equities19.2%
    Hong Kong Equities17.5%
    South Korean Equities10.8%
    Indonesian Equities10.4%
    Indian Equities9.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2.6%10.8%11.7%12.3%12.7%42.9%
Sector2.1%12%13.3%17.2%12.6%43.2%
Rank within sector73 / 17999 / 179115 / 178146 / 17184 / 15169 / 118
Quartile2nd3rd3rd4th3rd3rd
Calendar performance
 YTD - 20162015201420132012
Fund9%-8.7%4.9%11.1%15.8%
Sector13.1%-6.8%5.5%3.3%19.7%
Rank within sector139 / 174108 / 16695 / 15624 / 142106 / 122
Quartile4th3rd3rd1st4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-0.04
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.07
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.15
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
15.24
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
5.29
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.02
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.88
Price movement
52 week high25.5
52 week low20.21
Current bid price-
Current offer price-
Current mid price25.49
Region
1China19.21%
2Hong Kong17.54%
3Korea10.76%
4Indonesia10.42%
5India9.83%
6Thailand9.75%
7Taiwan7.16%
8Philippines5.54%
9Singapore5.17%
Industry sector
1Financials21.69%
2Information Technology17.72%
3Industrials12.55%
4Consumer Discretionary11.02%
5Telecommunications Utilities8.68%
6Property8.61%
7Consumer Staples6.93%
8Health Care6.52%
9Utilities3.32%
Asset type
1Chinese Equities19.21%
2Hong Kong Equities17.54%
3South Korean Equities10.76%
4Indonesian Equities10.42%
5Indian Equities9.83%
6Thai Equities9.75%
7Taiwanese Equities7.16%
8Philippine Equities5.54%
9Singapore Equities5.17%
Individual holdings
1ALIBABA GROUP HLDG LTD5.27%
2TENCENT HLDGS LIMITED5.18%
3PING AN INSURANCE(GR)CO OF CHINA5.04%
4CP All PCL (Thailand) Foreign - Equity4.39%
5TELEKOMUNIKASI INDONESIA(PERSERO)4.3%
6SHANGHAI INTERNATIONAL AIRPORT CO3.86%
7AIA GROUP LTD3.77%
8CHINA LIFE INSURANCE CO3.76%
9APOLLO HOSPITALS ENTERPRISE3.69%
Management
Fund manager group
No data available.
Fund manager company
Allianz Global Investors GmbH
Fund type
Offshore Fund
Fund objective
The fund concentrates on stocks of companies that are domiciled in Korea, Taiwan, Thailand, Hong Kong, Malaysia, Indonesia, the Philippines, Singapore and China or that derive a predominate portion of their revenue or profits from there. Its aim is to attain steady income and capital growth over the long term.
Benchmark
  • MSCI AC Asia ex Japan
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Raymond Chan01/10/2013Raymond Chan was born in Hong Kong in 1965 and attended the University of Durham, where he obtained his Bachelors degree in Economics. He gained an MA in Finance and Investment from the University of Exeter in 1989. Raymond has been a fund manager for almost 20 years and is a Chartered Financial Analyst. He started his career in with Sun Hung Kai and Co and moved into investment management in 1990 with Ivory & Sime Asia. Raymond is currently chief investment officer, Asia and Pacific with RCM-Allianz Global Investors in Hong Kong and is chairman of the Balanced Investment Committee. He manages the ARCM Asia Pacific fund and ARCM Korea fund where he uses a bottom up approach to investing and also manages the ARCM High Dividend Asia fund. Outside of fund management, Raymond enjoys tennis as a way of relaxing.
Pan Yu Ming01/10/2013Pan Yu Ming is currently a senior portfolio manager, with responsibilities for Far East ex Japan portfolios. He is also a member of the regional equity portfolio management team. He joined the group as an analyst in 1999, covering Thailand and the utilities/energy sector. He then became the lead portfolio manager for the Singapore balanced funds, as well as the Singapore country fund and the Malaysia country fund in the Singapore office. His last position with us was the Portfolio Manager in the Hong Kong office responsible for the Allianz Greater China Dynamic Fund and the Allianz China A-Shares Fund. He also co-managed the Allianz Little Dragons Fund and the Allianz Emerging Asia Equity Fund. He left the group in 2010 and rejoins in 2013. Prior to re-joining us, he was the lead manager of the Greater China Absolute Return hedge fund, and managed the research process for CSOP Asset Management, Hong Kong. He graduated with a Bachelor of Business in 1997 and received a Master of Business in 1999, both from Nanyang Technological University. He has also completed the examination by the Association of Chartered Certified Accountants (UK) in 2000, and received his CFA charter in 2003.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Transparent for German Tax, Reporting Fund Status, SRS, UCITS IV Compliant, UCITS V Compliant, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Switzerland, Chile, Germany, France, United Kingdom, Hong Kong, Italy, Republic Of Korea, Luxembourg, Macau, Netherlands, Offshore, Poland, Portugal, Singapore, Taiwan - Province Of China
Allianz Total Return Asian Equity A EUR
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)1.87%
Bid price93.32
Offer price97.99
Mid price-
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFUSM
Allianz Total Return Asian Equity A NAV EUR
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)1.87%
Bid price-
Offer price-
Mid price93.32
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFUSL
Allianz Total Return Asian Equity A NAV USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price25.49
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeET16
Allianz Total Return Asian Equity A USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price25.49
Offer price26.76
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFF0J
Allianz Total Return Asian Equity AM (H2-AUD) AUD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price10
Offer price10.5
Mid price-
CurrencyAUD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2O
Allianz Total Return Asian Equity AM (H2-AUD) NAV AUD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price10
CurrencyAUD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2P
Allianz Total Return Asian Equity AM (H2-RMB) CNY
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)1.99%
Bid price8.89
Offer price9.33
Mid price-
CurrencyCNY
Price updated23/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFRSP
Allianz Total Return Asian Equity AM (H2-RMB) NAV CNY
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)1.99%
Bid price-
Offer price-
Mid price8.89
CurrencyCNY
Price updated23/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFRSO
Allianz Total Return Asian Equity AM (H2-SGD) NAV SGD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.98%
Total expense ratio (TER)1.98%
Bid price-
Offer price-
Mid price9.07
CurrencySGD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFN1D
Allianz Total Return Asian Equity AM (H2-SGD) SGD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.98%
Total expense ratio (TER)1.98%
Bid price9.07
Offer price9.52
Mid price-
CurrencySGD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFN1C
Allianz Total Return Asian Equity AM HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2%
Total expense ratio (TER)2%
Bid price10.18
Offer price10.69
Mid price-
CurrencyHKD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2K
Allianz Total Return Asian Equity AM NAV HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2%
Total expense ratio (TER)2%
Bid price-
Offer price-
Mid price10.18
CurrencyHKD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2L
Allianz Total Return Asian Equity AM NAV USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price10.19
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2N
Allianz Total Return Asian Equity AM USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price10.19
Offer price10.7
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFH2M
Allianz Total Return Asian Equity AMg (H2-AUD) AUD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price10
Offer price10.5
Mid price-
CurrencyAUD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QQ
Allianz Total Return Asian Equity AMg (H2-AUD) NAV AUD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10
CurrencyAUD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QP
Allianz Total Return Asian Equity AMg (H2-EUR) EUR
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price10.03
Offer price10.53
Mid price-
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE1LT
Allianz Total Return Asian Equity AMg (H2-EUR) NAV EUR
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.03
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE1LS
Allianz Total Return Asian Equity AMg (H2-SGD) NAV SGD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.15
CurrencySGD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QR
Allianz Total Return Asian Equity AMg (H2-SGD) SGD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price10.15
Offer price10.66
Mid price-
CurrencySGD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QS
Allianz Total Return Asian Equity AMg HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price10.17
Offer price10.68
Mid price-
CurrencyHKD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QU
Allianz Total Return Asian Equity AMg NAV HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.17
CurrencyHKD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QT
Allianz Total Return Asian Equity AMg NAV USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.14
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QV
Allianz Total Return Asian Equity AMg USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.1%
Total expense ratio (TER)-
Bid price10.14
Offer price10.65
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE0QW
Allianz Total Return Asian Equity AT HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2%
Total expense ratio (TER)2%
Bid price13.04
Offer price13.69
Mid price-
CurrencyHKD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1EL
Allianz Total Return Asian Equity AT NAV HKD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2%
Total expense ratio (TER)2%
Bid price-
Offer price-
Mid price13.04
CurrencyHKD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF1EM
Allianz Total Return Asian Equity AT NAV USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price29.54
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeET84
Allianz Total Return Asian Equity AT USD
Initial charge5%
Annual charge2.05%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.01%
Total expense ratio (TER)2.01%
Bid price29.54
Offer price31.02
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFF0K
Allianz Total Return Asian Equity IT2 NAV USD
Initial charge-
Annual charge1.08%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.09%
Total expense ratio (TER)0.8%
Bid price-
Offer price-
Mid price955.96
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFT2Q
Allianz Total Return Asian Equity IT2 USD
Initial charge-
Annual charge1.08%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.09%
Total expense ratio (TER)0.8%
Bid price955.96
Offer price955.96
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFT2R
Allianz Total Return Asian Equity P EUR
Initial charge-
Annual charge1.08%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.13%
Total expense ratio (TER)-
Bid price1114.76
Offer price1114.76
Mid price-
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE0GR
Allianz Total Return Asian Equity P NAV EUR
Initial charge-
Annual charge1.08%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.13%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1114.76
CurrencyEUR
Price updated23/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE0GQ
Allianz Total Return Asian Equity PT NAV USD
Initial charge-
Annual charge1.08%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.06%
Total expense ratio (TER)1.06%
Bid price-
Offer price-
Mid price32.71
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFEQQ
Allianz Total Return Asian Equity PT USD
Initial charge-
Annual charge1.08%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.06%
Total expense ratio (TER)1.06%
Bid price32.71
Offer price32.71
Mid price-
CurrencyUSD
Price updated23/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeET17
Allianz Total Return Asian Equity RT EUR
Initial charge-
Annual charge1.18%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)1.05%
Bid price100.76
Offer price100.76
Mid price-
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFW3D
Allianz Total Return Asian Equity RT NAV EUR
Initial charge-
Annual charge1.18%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.23%
Total expense ratio (TER)1.05%
Bid price-
Offer price-
Mid price100.76
CurrencyEUR
Price updated23/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFW3C
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.