Fact sheet: Henderson Horizon China

Fund information
Fund name
Henderson Horizon China A2 Acc USD
Fund manager company
Henderson Management SA
Fund type
Offshore Fund
Fund managers
  • May Ling Weesince 01/10/2015
  • Charlie Awdrysince 09/02/2015
Fund objective
The investment objective of the China Fund is to seek long-term capital appreciation through investment in securities listed primarily in China, Hong Kong and Taiwan. The Investment Manager may also invest in companies incorporated elsewhere that have significant assets, business, production, trading activity or other interests in China, Hong Kong or Taiwan. At least two thirds of the total assets of this Fund will be invested in (i) companies having their registered office in China, Hong Kong or Taiwan (ii) companies with their registered office outside China, Hong Kong or Taiwan carrying out their business activities predominantly in China, Hong Kong or Taiwan, or (iii) holding companies, the interests of which are predominantly invested in companies with their registered office in China, Hong Kong or Taiwan. The Fund may invest in China A-Shares, directly through Shanghai-Hong Kong Stock Connect and other eligible exchanges or indirectly through derivative instruments. Exposure to China A-Shares will not be more than 35% of the Fund’s net asset value.The Investment Manager will adopt a broad range of investment strategies using a diversified range of instruments with a view to enhancing the performance of the Fund. Particularly, the Investment Manager will employ an approach to investment decisions using primarily a Fundamental strategy as further described under the Section ‘General Policy applicable to Funds making active use of derivatives and using a Fundamental strategy’ of this Prospectus.The approach will be implemented by using the following instruments in accordance with the Section ‘Investment Restrictions’ of this Prospectus: quoted equity securities, structured notes, options, futures and forwards on stocks, indices, contracts for difference, OTC swaps including equity swaps and asset swaps, equity linked notes and currency forwards.On an ancillary basis, and for defensive purposes, the Fund may also invest in government, government agency and corporate bonds and their associated derivative securities, preferred stock, money market instruments and may hold cash or treasury bills pending reinvestment.The Investment Manager may from time to time consider hedging currency and interest rates exposure, but will not generally enter into contracts involving a speculative position in any currency or interest rate.
Benchmark
  • MSCI China
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
27.2%
1 Year rank in sector
-
Sector
FO Equity - Greater China
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.
1.91%
Fund size
£126m (£121m 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.
135
Top in this sector
Fund name1 Year
Templeton China41.4%
Fidelity China Focus41%
Old Mutual China Eq36.5%
GS China Opp Eq Prtflio31.7%
Pictet Greater China31.6%
...more in FO Equity - Greater China

Performance snapshot

Holdings snapshot

  • Hong Kong66.7%
    USA18.8%
    China9.9%
    Money Market4.6%
  • Information Technology28.7%
    Consumer Discretionary20.8%
    Financials13.3%
    Telecommunications Utilities12.6%
    Consumer Staples7.2%
  • Hong Kong Equities66.7%
    US Equities18.8%
    Chinese Equities9.9%
    Money Market4.6%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund4.6%21.5%22%27.2%32.3%79.9%
Sector3.9%16.3%16.7%17%13.8%43.5%
Rank within sector------
Quartile
Calendar performance
 YTD - 20162015201420132012
Fund10.9%0.3%8.5%15.9%26%
Sector8.4%-5%4.6%10.7%16.3%
Rank within sector-----
Quartile
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.
4.61
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.
1.04
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.
0.32
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%.
19.74
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.
5.75
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.
0.8
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.
0.92
Price movement
52 week high16.65
52 week low12
Current bid price-
Current offer price-
Current mid price16.59
Region
1Hong Kong66.69%
2USA18.78%
3China9.93%
4Money Market4.6%
Industry sector
1Information Technology28.7%
2Consumer Discretionary20.8%
3Financials13.3%
4Telecommunications Utilities12.6%
5Consumer Staples7.2%
6Money Market4.6%
7Industrials4%
8Health Care3.5%
9Materials2.8%
Asset type
1Hong Kong Equities66.69%
2US Equities18.78%
3Chinese Equities9.93%
4Money Market4.6%
Individual holdings
1TENCENT HLDGS LIMITED9.5%
2AIA GROUP LTD9.1%
3CHINA MOBILE LTD9%
4ALIBABA GROUP HLDG LTD8.4%
5NETEASE INC4.7%
6NEXTEER AUTOMOTIVE GROUP LTD4.3%
7HKT TRUST AND HKT LTD SHARE STAPLED UNIT3.6%
8ZHENGZHOU YUTONG BUS CO LTD3.6%
9BRILLIANCE CHINA FINANCE3.5%
Management
Fund manager group
Henderson Global Investors
Fund manager company
Henderson Management SA
Fund type
Offshore Fund
Fund objective
The investment objective of the China Fund is to seek long-term capital appreciation through investment in securities listed primarily in China, Hong Kong and Taiwan. The Investment Manager may also invest in companies incorporated elsewhere that have significant assets, business, production, trading activity or other interests in China, Hong Kong or Taiwan. At least two thirds of the total assets of this Fund will be invested in (i) companies having their registered office in China, Hong Kong or Taiwan (ii) companies with their registered office outside China, Hong Kong or Taiwan carrying out their business activities predominantly in China, Hong Kong or Taiwan, or (iii) holding companies, the interests of which are predominantly invested in companies with their registered office in China, Hong Kong or Taiwan. The Fund may invest in China A-Shares, directly through Shanghai-Hong Kong Stock Connect and other eligible exchanges or indirectly through derivative instruments. Exposure to China A-Shares will not be more than 35% of the Fund’s net asset value.The Investment Manager will adopt a broad range of investment strategies using a diversified range of instruments with a view to enhancing the performance of the Fund. Particularly, the Investment Manager will employ an approach to investment decisions using primarily a Fundamental strategy as further described under the Section ‘General Policy applicable to Funds making active use of derivatives and using a Fundamental strategy’ of this Prospectus.The approach will be implemented by using the following instruments in accordance with the Section ‘Investment Restrictions’ of this Prospectus: quoted equity securities, structured notes, options, futures and forwards on stocks, indices, contracts for difference, OTC swaps including equity swaps and asset swaps, equity linked notes and currency forwards.On an ancillary basis, and for defensive purposes, the Fund may also invest in government, government agency and corporate bonds and their associated derivative securities, preferred stock, money market instruments and may hold cash or treasury bills pending reinvestment.The Investment Manager may from time to time consider hedging currency and interest rates exposure, but will not generally enter into contracts involving a speculative position in any currency or interest rate.
Benchmark
  • MSCI China
Investment style
Growth
Investment method
Shares
Fund managers
NameSinceBiography
May Ling Wee01/10/2015Wee May Ling joined Henderson as an Investment Manager in 2015. She brings with her close to two decades of industry experience. May Ling was previously a portfolio manager with Lloyd George Management in Hong Kong, managing Greater China and Hong Kong, China equities. She started at the firm as an investment analyst. May Ling commenced her investment career as a research analyst in Dresdner Kleinwort Wasserstein Securities Singapore and subsequently, Hong Kong. Following that, she joined Deutsche Bank Hong Kong as an investment analyst. May Ling holds a BCom (Economics and Finance) from the University of New South Wales, Sydney. She is a CFA charterholder.
Charlie Awdry09/02/2015Charlie joined Henderson in 2011 as an Investment Manager. Charlie joined Gartmore in September 2001, with responsibility for research into the materials sector. In September 2003, Charlie assumed the role of Investment Manager and began supporting the management of the Gartmore China Opportunities Fund. As a sector specialist he conducted research into the industrials and materials sectors for Global Emerging markets products. Charlie spent six months working in Gartmore's Hong Kong office focusing on opportunities in the Chinese market, returning in April 2006. Charlie was appointed Fund Manager of the Gartmore China Opportunities Fund on June 2006. Charlie became manager of the Henderson Horizon China Fund in February 2015. Charlie is a CFA charter holder and holds a first class Honours BSc in Geography from the University of Bristol.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Transparent for German Tax, Distributor Status, IA Recognised, Reporting Fund Status, SRS, UCITS IV Compliant, UCITS V Compliant, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Greece, Hong Kong, Isle of Man, Ireland, Italy, Liechtenstein, Luxembourg, Macau, Malta, Netherlands, Norway, Offshore, Portugal, Singapore, Sweden
Henderson Horizon China A1 Inc USD
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)2.03%
Bid price-
Offer price-
Mid price16.5
CurrencyUSD
Price updated29/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeCRV7
Henderson Horizon China A2 Acc EUR
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)2.03%
Bid price-
Offer price-
Mid price14.78
CurrencyEUR
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRW1
Henderson Horizon China A2 Acc SGD
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)2.03%
Bid price-
Offer price-
Mid price22.6
CurrencySGD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRW2
Henderson Horizon China A2 Acc USD
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)1.95%
Bid price-
Offer price-
Mid price16.59
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRW0
Henderson Horizon China I1 EUR
Initial charge-
Annual charge1%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price10.81
CurrencyEUR
Price updated20/05/2011
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeCRW4
Henderson Horizon China I1 GBP
Initial charge-
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price9.48
CurrencyGBP
Price updated20/05/2011
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeGQJ4
Henderson Horizon China I1 SGD
Initial charge-
Annual charge1%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price19.02
CurrencySGD
Price updated20/05/2011
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeCRW5
Henderson Horizon China I2 Acc GBP
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price9.48
CurrencyGBP
Price updated20/05/2011
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeGQJ5
Henderson Horizon China I2 Acc SGD
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price19.02
CurrencySGD
Price updated20/05/2011
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeCRW8
Henderson Horizon China I2 Acc USD
Initial charge5%
Annual charge1%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)1%
Total expense ratio (TER)1%
Bid price-
Offer price-
Mid price17.95
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeCRW6
Henderson Horizon China X2 Acc EUR
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)2.49%
Total expense ratio (TER)2.63%
Bid price-
Offer price-
Mid price9.98
CurrencyEUR
Price updated20/05/2011
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRX0
Henderson Horizon China X2 Acc USD
Initial charge5%
Annual charge1.2%
Min single investment£2,500
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)2.49%
Total expense ratio (TER)2.63%
Bid price-
Offer price-
Mid price15.31
CurrencyUSD
Price updated29/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRW9
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.