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 30/09/2015
  • 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
3.4%
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
£133m (£132m 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.
140
Top in this sector
Fund name1 Year
Fidelity China Focus31.3%
Templeton China27.1%
Old Mutual China Eq27%
Pictet Greater China21%
GS China Opp Eq Prtflio18.4%
...more in FO Equity - Greater China

Performance snapshot

Holdings snapshot

  • China77.6%
    Hong Kong15.1%
    Money Market4.6%
    Sweden1.6%
    Cayman Islands1.1%
  • Internet28.6%
    Insurance13.9%
    Wireless & Mobile Communications9.1%
    Financials5.6%
    Oil & Gas4.9%
  • Chinese Equities77.6%
    Hong Kong Equities15.1%
    Money Market4.6%
    Swedish Equities1.6%
    American Emerging Equities1.1%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.5%-6.3%10.1%3.4%11.6%50.3%
Sector-1.5%-4.1%9.3%3.8%3.1%29.6%
Rank within sector------
Quartile
Calendar performance
 YTD - 20162015201420132012
Fund3.7%0.3%8.5%15.9%26%
Sector4.4%-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.
3.2
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.
0.06
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%.
19.32
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.
5.34
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.
0.57
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.
0.93
Price movement
52 week high16.69
52 week low12
Current bid price-
Current offer price-
Current mid price15.51
Region
1China77.64%
2Hong Kong15.12%
3Money Market4.56%
4Sweden1.63%
5Cayman Islands1.05%
Industry sector
1Internet28.61%
2Insurance13.93%
3Wireless & Mobile Communications9.08%
4Financials5.61%
5Oil & Gas4.87%
6Money Market4.56%
7Luxury Goods4.53%
8Water3.43%
9Automotive3.22%
Asset type
1Chinese Equities77.64%
2Hong Kong Equities15.12%
3Money Market4.56%
4Swedish Equities1.63%
5American Emerging Equities1.05%
Individual holdings
1AIA GROUP LTD9.65%
2ALIBABA GROUP HLDG LTD9.65%
3TENCENT HLDGS LTD9.58%
4CHINA MOBILE LTD9.08%
5PING AN INSURANCE(GR)CO OF CHINA4.28%
6ANHUI CONCH CEMENT CO LTD4.13%
7SINA CORP3.83%
8CITIC SECURITIES CO3.58%
9CHINA SHENHUA ENERGY CO LTD3.29%
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 Wee30/09/2015May Ling Wee joined Henderson as an investment manager in 2015, and has almost 20 years’ industry experience. Previously, she was a portfolio manager with Lloyd George Management in Hong Kong, managing Greater China and Hong Kong equities. May Ling began her investment career as a research analyst in Dresdner Kleinwort Wasserstein Securities, Singapore and subsequently Hong Kong. Prior to that, she was an investment analyst with Deutsche Bank, Hong Kong. May Ling holds a BCom (Economics and Finance) from the University of New South Wales, Sydney and is a CFA charterholder.
Charlie Awdry09/02/2015Charlie Awdry has more than a decade of experience investing in China equities. He joined Henderson in 2011 as part of the Gartmore acquisition where he had been a key member of the emerging markets team since 2001. Charlie assumed the role of investment manager and began managing Chinese equities in 2003. As a sector specialist he conducted research into the industrials and materials sectors for Global Emerging Markets products. After a period of working in Hong Kong in 2005 and 2006 Charlie returned to London and became the China fund manager at Gartmore in 2006. Charlie is a CFA charterholder and holds a first class BSc (Hons) degree 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 price15.43
CurrencyUSD
Price updated08/12/2016
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 price14.37
CurrencyEUR
Price updated08/12/2016
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 price21.96
CurrencySGD
Price updated08/12/2016
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 price15.51
CurrencyUSD
Price updated08/12/2016
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 price16.83
CurrencyUSD
Price updated08/12/2016
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 price14.3
CurrencyUSD
Price updated08/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeCRW9
Data provided by

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