Hwang China Select Fund is a wholesale feeder fund which aims to achieve capital appreciation over the long term by investing in collective investment scheme, namely China Select Fund, a Cayman Islands-domiciled sub-fund of Citi Investment Trust (Cayman) II managed by Citigroup First Investment Management Limited ("the Target Fund"). The sub-manager for the China Select Fund is China Asset Management (Hong Kong) Limited.
It was launched on 11 July 2011 and the Financial Year End is on 31 December. The Fund Manager is Hwang Investment Management Berhad and the trustee is TMF Trustees Malaysia Berhad.
- Offer Price during the Initial Offer Period is MYR 0.50 per unit
- The fund is suitable for investors who:
- Have long term investment horizon;
- Are high risk tolerant; and
- Seeks capital appreciation through exposure to China's economic growth.
- Asset Allocation as follow:
- Minimum of 95% to maximum of 99.8% of the fund's NAV will be invested in collective investment scheme, namely China Select Fund (the "Target Fund").
- Maximum 5% of the fund's NAV will be in placement of deposits.
- The Fund is not expected to make any income distribution.
- The Benchmark is 80% MSCI China Index + 20% China Securities Index 300.
- Sales Charge per Unit is up to 5.50% of the NAV per unit
- Transfer fee is RM 5.00 per transfer.
- The Repurchase Charge per unit is NIL.
- Switching Fee; maximum 1% of the NAV per unit of the Fund will be levied on any switching of units from other fund managed by the Manager into this Fund or switching out from this Fund to another fund managed by the Manager.
- The Annual Management fee is 1.8% per annum of the NAV of the fund.
- Trustee Fee is 0.08% per annum of the NAV of the Fund.
- Minimum Initial Investment is MYR 30,000 and Minimum Additional Investment is RM 10,000.
- Cooling off period, unit holders may exercise cooling-off rights within six (6) business days of making the investment. This is however, only available on your first investment with the Manager.
Note: Please refer to our nearest branch for more details about Hwang China Select Fund.
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