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 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.
Factsheets
| Fund | English | French | German | Spanish | Italian |
|---|---|---|---|---|---|
| Guinness China RMB Income Fund | Download |
Updates
KIIDS
| Fund | Class | ISIN | English | French | German | Spanish | Italian | Swedish | Finnish |
|---|---|---|---|---|---|---|---|---|---|
| Guinness China RMB Income Fund | Y CNH Dist | IE000026G6J3 | Download | ||||||
| Guinness China RMB Income Fund | Y EUR Dist | IE000K4N4BW3 | Download | ||||||
| Guinness China RMB Income Fund | Y EUR Dist Hedged | IE000AYJW8V0 | Download | ||||||
| Guinness China RMB Income Fund | Y GBP Dist | IE000G9JHZF4 | Download | ||||||
| Guinness China RMB Income Fund | Y USD Dist | IE000FIQDRV0 | Download | ||||||
| Guinness China RMB Income Fund | F EUR Dist | IE0006534FS5 | Download | ||||||
| Guinness China RMB Income Fund | F GBP Dist | IE000K9NODM9 | Download | ||||||
| Guinness China RMB Income Fund | F USD Dist | IE000BEWEDQ4 | Download |
KIDS
| Fund | Class | ISIN | English | French | German | Spanish | Italian | Swedish | Finnish |
|---|---|---|---|---|---|---|---|---|---|
| Guinness China RMB Income Fund | Y GBP Dist | IE000G9JHZF4 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | F GBP Dist | IE000K9NODM9 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | F USD Dist | IE000BEWEDQ4 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | F EUR Dist | IE0006534FS5 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | Y EUR Dist Hedged | IE000AYJW8V0 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | Y EUR Dist | IE000K4N4BW3 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | Y CNH Dist | IE000026G6J3 | Download | Download | Download | Download | |||
| Guinness China RMB Income Fund | Y USD Dist | IE000FIQDRV0 | Download | Download | Download | Download |
Fund Facts
For information on the Fund’s current investments, please see the latest factsheet available on the literature tab above.
Introductory Share Class available
For more information please see the supplement
Share Classes
For full information on the share classes available for investment please refer to the Key Investor Information document.
Fund 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 |
|---|---|---|---|---|
| GUINNESS CHINA RMB INCOME FUND CLASS Y CNH DIST | IE000026G6J3 | 98.9837 | -0.0039 | |
| GUINNESS CHINA RMB INCOME FUND CLASS Y EUR DIST | IE000K4N4BW3 | 8.7865 | -0.0155 | |
| GUINNESS CHINA RMB INCOME FUND CLASS Y GBP DIST | IE000G9JHZF4 | 8.5455 | 0.0087 | |
| GUINNESS CHINA RMB INCOME FUND CLASS Y USD DIST | IE000FIQDRV0 | 9.6900 | 0.0474 | |
| GUINNESS CHINA RMB INCOME FUND CLASS F EUR DISTRIBUTION | IE0006534FS5 | 8.8172 | -0.0156 | |
| GUINNESS CHINA RMB INCOME FUND CLASS F GBP DISTRIBUTION | IE000K9NODM9 | 8.5807 | 0.0089 | |
| GUINNESS CHINA RMB INCOME FUND CLASS F USD DISTRIBUTION | IE000BEWEDQ4 | 9.7276 | 0.0475 |
The Guinness China RMB Income Fund is a bond fund. Investors should be willing and able to assume the risks of bond and fixed income investing. The value of an investment and the income from it can fallas well as rise as a result of market and currency movement , and you may not get back the amount originally invested. For full information on the risks, please refer to the Prospectus, Supplement, and KID/KIID for the Fund, which are available on our website.
Source: FE fundinfo. Net of fees. Investors should note that fees and expenses are charged to the capital of the Fund. This reduces the return on your investment by an amount equivalent to the Ongoing Charges Figure (OCF). The OCF for the Y share class is [get_ocf_isin]. Returns for share classes with a different OCF will vary accordingly. Transaction costs also apply and are incurred when a fund buys or sells holdings. The performance returns do not reflect any initial charge; any such charge will also reduce the return.