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Guinness China RMB Income Fund

The Guinness China RMB Income Fund aims to provide investors with a combination of capital appreciation and income. 

Overview

The Guinness China RMB Income Fund aims to provide investors with a combination of capital appreciation and income. The Fund invests in a range of bonds and fixed income investments which will be denominated or hedged back to Renminbi (Renminbi or RMB being the official currency of China).  The Fund buys government and quasi-sovereign bonds in the onshore China bond market and supranational and high-grade corporate credit in the offshore bond market. The Fund is a high conviction strategy with 30-60 positions and is targeting a duration of three years or less and a yield of c3%*.

One of the reasons for launching the Fund is that we believe the Renminbi is undervalued in ‘Purchasing Power Parity’ terms both on absolute measures but also relative to the country’s net foreign assets. We believe that long term currency appreciation of Renminbi against its trade-weighted basket is expected to be the 1.5% - 2.5% p/a range over the next ten years.**. There are a number of reasons why we believe the Renminbi will appreciate over the next few decades:

  • The People’s Bank of China is closer to being the ‘Bundesbank of Asia’ than the majority of western central banks, with the former adopting more orthodox monetary policy.
  • The US Dollar is the world’s reserve currency and will remain so for many years – but US fundamentals have been deteriorating.
  • China’s Current account is growing . In part this is due to the excessive stimulus in the West but China’s lower inflation rate aids competitiveness.
  • Investor reallocation. China is opening up its asset management and bond markets to allow foreigners access to what is set to become the world’s second biggest capital market.


Guinness Global Investors is the Investment manager of the fund.  EPIC investment Partners is the sub-investment manager, managing the portfolio on a day-to-day basis.

*The target yield is based on current prevailing yields on bonds of equivalent credit rating and maturity
** These represent our best estimated of long-term returns: they are subject to change and are not guaranteed

 

How to Invest

We aim to make it simple to invest in our funds. All our funds are open to direct investment via an application form. They are widely available on investment platforms and are eligible for UK investors’ ISAs and SIPPs.

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Factsheets

 

 

Fund English French German Spanish Italian
Guinness China RMB Income Fund Download

KIIDS

 

 

Fund Class ISIN English French German Spanish Italian Swedish Finnish
Guinness China RMB Income Fund Y CNH Dist IE000026G6J3
Guinness China RMB Income Fund Y EUR Dist IE000K4N4BW3
Guinness China RMB Income Fund Y EUR Hedged Dist IE000AYJW8V0
Guinness China RMB Income Fund Y GBP Dist IE000G9JHZF4
Guinness China RMB Income Fund Y USD Dist IE000FIQDRV0
Guinness China RMB Income Fund Z EUR Dist IE0006534FS5
Guinness China RMB Income Fund Z GBP Dist IE000K9NODM9
Guinness China RMB Income Fund Z USD Dist IE000BEWEDQ4

KIDS

 

 

No documents were found.

Documents

 

 

Document

Guinness Asset Management Funds plc - UK Reporting Fund Status 2022

Fund Supplement

Guinness Asset Management Funds plc - Prospectus

Guinness Asset Management Funds plc - Application Form

Guinness Asset Management Funds plc - Target Market Assessment

Fund Facts

For information on the Fund’s current investments, please see the latest fact sheet available on the literature tab above.
 

Launch Date
Fund managers (start date)
EPIC Investment Partners
IA sector
TBC
Structure
OEIC (UCITS)
Domicile
Ireland
Underlying currency
CNH
Pricing
Daily, forwards
Valuation
2300 Dublin time
Deal cut off time
1500 Dublin time
Administrator
Link Fund Administrators (Ireland) Ltd
Custodian
Brown Brothers Harriman
UK Reporting Fund status
Yes
ISA Eligible
Yes

Share Classes

For full information on the share classes available for investment please refer to the Key Investor Information document.

 

Class OCF current Max Initial Charge Min Investment ISIN SEDOL Bloomberg
Y CNH Dist 0.60% 0.00% - IE000026G6J3 BMH8LX0 TBC
Y EUR Dist 0.60% 0.00% - IE000K4N4BW3 BMH8M26 TBC
Y EUR Hedged Dist 0.60% 0.00% - IE000AYJW8V0 BMH8LZ2 TBC
Y GBP Dist 0.60% 0.00% - IE000G9JHZF4 BMH8M37 TBC
Y USD Dist 0.60% 0.00% - IE000FIQDRV0 BMH8M15 TBC
Z EUR Dist 0.45% 0.00% 100,000,000 IE0006534FS5 BMH8LY1 TBC
Z GBP Dist 0.45% 0.00% 100,000,000 IE000K9NODM9 BMH8M48 TBC
Z USD Dist 0.45% 0.00% 100,000,000 IE000BEWEDQ4 BMH8M04 TBC

Share Prices

The Funds are priced every working day at 23.00 Dublin time and updated here the following day.

 

Fund name Isin Fund price (+/-) Date
TB GUINNESS ASIAN EQUITY INCOME FUND Y INCOME GBP GB00BMFKG774 89.87 0.26 29/09/2023
TB GUINNESS ASIAN EQUITY INCOME FUND Y ACCUMULATION GBP GB00BMFKG667 99.23 0.3 29/09/2023
TB GUINNESS EUROPEAN EQUITY INCOME FUND Y INCOME GBP GB00BP5J6N11 105.21 1.92 29/09/2023
TB GUINNESS EUROPEAN EQUITY INCOME FUND Y ACCUMULATION GBP GB00BP5J6M04 108.03 1.97 29/09/2023
TB GUINNESS EUROPEAN EQUITY INCOME FUND Z INCOME GBP GB00BP5J6Q42 105.56 1.92 29/09/2023
TB GUINNESS EUROPEAN EQUITY INCOME FUND Z ACCUMULATION GBP GB00BP5J6P35 108.47 1.98 29/09/2023
TB GUINNESS GLOBAL EQUITY INCOME FUND Y INCOME GBP GB00BNGFN669 130.82 0.77 29/09/2023
TB GUINNESS GLOBAL EQUITY INCOME FUND Y ACCUMULATION GBP GB00BNGFN776 139.76 0.81 29/09/2023
TB GUINNESS GLOBAL INNOVATORS FUND Y ACCUMULATION GBP GB00BP5J5Y50 120.78 1.01 29/09/2023
TB GUINNESS SUSTAINABLE ENERGY FUND Y ACCUMULATION GBP GB00BP5J6198 89.96 0.87 29/09/2023
TB GUINNESS SUSTAINABLE ENERGY FUND Z ACCUMULATION GBP GB00BP5J6206 90.1 0.87 29/09/2023
TB GUINNESS SUSTAINABLE GLOBAL EQUITY FUND Y ACCUMULATION GBP GB00BP5J7C70 101.91 1.39 29/09/2023
TB GUINNESS SUSTAINABLE GLOBAL EQUITY FUND Z ACCUMULATION GBP GB00BP5J7D87 102.27 1.39 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND O OVERSEAS INCOME GB00BYX94G55 69.26 1.21 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND O OVERSEAS ACCUMULATION GB00BYX94F49 89.18 1.54 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND Y CLEAN INCOME GB00BYX94J86 74.66 1.3 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND Y CLEAN ACCUMULATION GB00BYX94H62 95.58 1.67 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND Z EARLY INVESTOR INCOME GB00BYX94L09 75.49 1.31 29/09/2023
TB GUINNESS UK EQUITY INCOME FUND Z EARLY INVESTOR ACCUMULATION GB00BYX94K91 96.83 1.69 29/09/2023