The Asset Triple A Awards Asset Management Company of the Year, Asia - Overall 3) For Hong Kong Investors only JPMorgan Pacific Technology Fund Unit Trust Range August 2018 The Fund invests primarily in securities of technology companies in the Pacific region, including Japan. The Fund is therefore exposed to concentrated portfolio, smaller companies, technology related companies, emerging markets, currency, liquidity, equity and currency hedged classes risks. Investors may be subject to substantial losses. Investors should not solely rely on this document to make any investment decision. Investment objective To provide long-term capital growth through a portfolio consisting primarily of securities of technology companies in the Pacific region, including Japan. Portfolio information ((acc) - USD Class) Fund manager Oliver Cox/Joanna Kwok, Hong Kong Total fund size (m) USD 179.7 Denominated currency and NAV per unit (acc) - USD Class USD 67.76 (acc) - AUD (hedged) Class AUD 10.09 (acc) - HKD Class HKD 10.09 12 month NAV: Current charge: SEDOL/ISIN code Bloomberg code High Low Initial Redemption Management fee USD 77.78 (22.11.17) USD 64.32 (11.08.17) 5.0% of NAV 0% 1.5% p.a. B42H374/HK0000055761 JFPTECI HK Statistical analysis ((acc) - USD Class) 3 years 5 years Since launch 2) Correlation 0.97 0.96 0.77 Alpha % -0.10-0.13 0.48 Beta 0.95 0.94 1.01 Annualised volatility % 15.62 14.04 27.03 Sharpe ratio 1.04 0.89 0.27 Annualised tracking error % 3.65 3.78 17.25 Average annual return % 17.15 13.19 9.55 PERFORMANCE FROM 31.12.02 TO 31.07.18 (in denominated currency) REBASED 500 400 400 300 300 200 200 100 100 0 0-100 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 Cumulative performance % (in denominated currency) % CHANGE JPMorgan Pacific Technology (acc) - USD MSCI AC Pacific Information Technology Net Index 1) (Since 01.07.01) 1 month 1 year 3 years 5 years Since launch Launch date (acc) - USD Class -0.1 +3.4 +60.8 +85.8 +577.6 15.08.97 Benchmark (in USD) 1) -0.3 +6.9 +70.9 +109.0 +144.4 (acc) - AUD (hedged) Class - - - - - 28.06.18 (acc) - HKD Class - - - - - 28.06.18 Calendar year performance % (in denominated currency) 2013 2014 2015 2016 2017 2018YTD (acc) - USD Class +9.7 +3.8 +1.1 +14.5 +48.4-5.3 Benchmark (in USD) 1) +14.7 +7.2-3.3 +15.3 +58.0-4.2 (acc) - AUD (hedged) Class - - - - - - (acc) - HKD Class - - - - - - PORTFOLIO ANALYSIS By country/region China 35.9% Japan 26.4% Korea 17.9% Taiwan 16.1% Australia 2.5% Net Liquidity 1.2% By sector 1.2% Net Liquidity 1.7% Industrials 5.1% Consumer Discretionary 92.0% Information Technology Top five holdings (as at end June 2018) Holding Sector Country/region % Tencent Holdings Ltd. Information Technology China 10.0 Alibaba Group Holding Ltd. Information Technology China 9.3 Samsung Electronics Co., Ltd. Information Technology Korea 9.3 Taiwan Semiconductor Manufacturing Co., Ltd. Information Technology Taiwan 8.5 Baidu, Inc. Information Technology China 5.8 Scan the QR code for fund documents For more information, please contact your bank, financial adviser or visit www.jpmorganam.com.hk Unless stated otherwise, all information as at the last valuation date of the previous month. Source: J.P. Morgan Asset Management/Factset (NAV to NAV in denominated currency with income reinvested). Due to SFC regulations, no performance data will be published for funds which are less than six months old. Source of star rating: Morningstar, Inc. Risk ratings (if any) are based on J.P. Morgan Asset Management s assessment of relative risk by asset class and historical volatility of the fund where applicable. The risk ratings are reviewed annually or as appropriate and for reference only. Any overweight in any investment holding exceeding the limit set out in the Investment Restrictions was due to market movements and will be rectified shortly. Top ten holdings is available upon request. It should be noted that due to the difference of the fund domiciles the valuation points used by Unit Trust range and SICAV range of funds for fair valuation (where applied) may vary. For details please refer to the respective offering document(s). The AUD Hedged Class is not recommended for investors whose base currency of investment is not in the aforesaid currency. 1)Dividends reinvested after deduction of withholding tax. Prior to 01.07.01, MSCI Pacific Net. 2)With the exception of the Average annual return figure, all data are calculated from the month end after inception. 3)Issued by The Asset, 2018 award, reflecting performance of previous calendar year. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document(s) for details, including the risk factors. This document has not been reviewed by the SFC. Issued by JPMorgan Funds (Asia) Limited.
PRODUCT KEY FACTS 產品資料概要 This statement replaces the statement dated April 2018. 本概要取代 2018 年 4 月之概要 JPMorgan Pacific Technology Fund 摩根太平洋科技基金 June 2018 2018 年 6 月 This statement provides you with key information about this product. This statement is a part of the offering document. You should not invest in this product based on this statement alone. 本概要提供本基金的重要資料, 是銷售文件的一部分 請勿單憑本概要作投資決定 Quick facts 資料便覽 Manager 經理人 : JPMorgan Funds (Asia) Ltd. 摩根基金 ( 亞洲 ) 有限公司 Investment Manager 投資經理人 : Trustee 信託管理人 : Ongoing charges over a year 全年經常性開支比率 : Dealing frequency 交易頻率 : Base currency 基本貨幣 : Dividend policy 派息政策 : JF Asset Management Ltd., Hong Kong (internal delegation) JF 資產管理有限公司, 香港 ( 同集團委任 ) HSBC Institutional Trust Services (Asia) Ltd. 滙豐機構信託服務 ( 亞洲 ) 有限公司 (acc) - AUD (hedged) class ( 累計 ) 澳元對沖類別 1.64% (acc) - HKD class ( 累計 ) 港元類別 1.64% (acc) - USD class ( 累計 ) 美元類別 1.64% (acc) - SGD (hedged) class 1 ( 累計 ) 新加坡元對沖類別 1.64% The ongoing charges figure is based on the annualised expenses for the period from 1 October 2017 to 31 March 2018 according to the unaudited semi-annual report for the period ended on 31 March 2018 and may vary from year to year. The ongoing charges figure is estimated because the class is recently launched. The figure is based on the estimated annualised costs and expenses of the Fund over 6 months expressed as a percentage of the estimated average net asset value of the Fund. The actual figure may be different from the estimated figure and may vary from year to year. 1 The class is distributed via selective distributors only. 經常性開支比率是根據截至 2018 年 3 月 31 日止期間之未經審核之半年度報告中由 2017 年 10 月 1 日至 2018 年 3 月 31 日的費用作年化計算, 每年均可能有所變動 由於類別是近期成立, 經常性開支比率為估算收費 開支比率是根據本基金 6 個月的估計成本及開支年化計算, 以佔本基金估計平均資產淨值的百分比列示 實際數字可能與估算數字不同, 且每年均可能有所變動 1 此類別只由指定分銷商分銷 Daily 每日 USD (The class offered in Hong Kong is in US dollars). Please refer to the section CLASSES OF UNITS in the Explanatory Memorandum of the Fund for details. 美元 ( 在香港銷售之類別以美元計價 ) 詳情請參閱本基金的基金說明書內之 單位類別 一節 (acc) class - Accumulative (income will be retained and reinvested within the corresponding class) ( 累計 ) 類別 - 累計 ( 收益將保留並撥作投資相應類別 ) Financial year end 財政年度終結日 : 30 September 9 月 30 日 Minimum investment 最低投資額 : Lump-sum (same amount for initial/additional): USD2,000 or its equivalent in another currency Regular Investment Plan: HKD1,000 per month 整額 ( 首次及其後每次相同 ):2,000 美元或其他貨幣之等值定期投資計劃 : 每月 1,000 港元 The Manager may apply a different minimum lump sum investment and/or a different minimum monthly investment. 經理人可設定不同的最低整筆投資額及 / 或不同的最低每月投資額 What is this product? 本基金是甚麼產品? This is a fund constituted in the form of a unit trust under the laws of Hong Kong. 本基金是一個根據香港法律以單位信託形式組成的基金 Issued by JPMorgan Funds (Asia) Ltd. 由摩根基金 ( 亞洲 ) 有限公司刊發 75
Objective and investment strategy 目標及投資策略 The investment policy of the Fund is to provide long-term capital growth through a portfolio consisting primarily of securities of technology companies in the Pacific region, including Japan. The Fund may also invest in derivatives such as forward contracts, options, warrants and futures for investment purposes and may under limited circumstances as considered appropriate by the Manager and the Investment Manager, hold substantial amounts of its portfolio in cash and cash based instruments. 基金之投資政策為透過一個主要投資於在太平洋地區 ( 包括日本 ) 之科技公司之證券之投資組合, 為投資者提供長遠資本增值 基金亦可為投資目的而投資於衍生工具, 例如遠期合約 期權 認股權證及期貨, 並在經理人及投資經理人認為合適之有限情況下, 於其投資組合內大量持有現金及以現金為本的工具 What are the KEY RISKS? 本基金有哪些主要風險? Investment involves risk. Please refer to the offering document(s) for details, including the risk factors. 投資涉及風險 請參閱銷售文件所載詳情, 包括風險因素 Emerging markets risk Accounting, auditing and financial reporting standards may be less rigorous than international standards. There is a possibility of nationalisation, expropriation or confiscatory taxation, foreign exchange control, political changes, government regulation, social instability or diplomatic developments which could affect adversely the economies of emerging markets or the value of the Fund s investments. Concentrated portfolio risk The Fund concentrates its investments in a single industry or group of industries. Investors should be aware that the Fund is likely to be more volatile than a broad-based fund and may be adversely impacted. Smaller companies risk The stock prices of small and medium-sized companies may tend to be more volatile than large-sized companies and the Fund may be adversely impacted, due to a lower degree of liquidity, greater sensitivity to changes in economic conditions and higher uncertainty over future growth prospects. Technology related companies risk The Fund may invest in technology related companies, which may fluctuate in value more than other funds and may be adversely impacted because of the greater potential volatility of share prices of technology related companies. Currency risk The assets in which the Fund is invested and the income from the assets will or may be quoted in currency which are different from the Fund s base currency. The performance of the Fund will therefore be affected by movements in the exchange rate between the currencies in which the assets are held and Fund s currency of denomination. Investors whose base currency is different (or not in a currency linked to the Fund s currency of denomination) may be exposed to additional currency risk and may be adversely impacted. Liquidity risk The Fund may invest in instruments where the volume of transactions may fluctuate significantly depending on market sentiment. There is a risk that investments made by the Fund may become less liquid in response to market developments or adverse investor perceptions and the Fund may be adversely impacted. Equity risk Equity markets may fluctuate significantly with prices rising and falling sharply, and this will have a direct impact on the Fund s net asset value. When equity markets are extremely volatile, the Fund s net asset value may fluctuate substantially and the Fund could suffer substantial loss. Currency Hedged Classes risk Each Currency Hedged Class may hedge the Fund s denominated currency back to its currency of denomination, with an aim to provide a return on investment which correlates with the return of the Class of unit which is denominated in the base currency of the Fund. The costs and resultant profit or loss on the hedging transactions will be reflected in the net asset value per unit for the units of the relevant Currency Hedged Classes. The costs relating to such hedging transactions which may be significant depending on prevailing market conditions shall be borne by that Currency Hedged Class only. The precise hedging strategy applied to a particular Currency Hedged Class may vary. In addition, there is no guarantee that the desired hedging instruments will be available or hedging strategy will achieve its desired result. In such circumstances, investors of the Currency Hedged Class may still be subject to the currency exchange risk on an unhedged basis (which means that, for example, if the hedging strategy in respect of the AUD Hedged Class is ineffective, depending on the exchange rate movements of AUD relative to the base currency of the Fund, and/or other currency(ies) of the non-aud denominated underlying investment of the Fund, (i) investors may still suffer losses even if there are gains or no losses in the value of the non-aud denominated underlying investments; or (ii) investors may suffer additional losses if the non-aud denominated underlying investments of the Fund fall in value). If the counterparties of the instruments used for hedging purposes default, investors of the Currency Hedged Classes may be exposed to the currency exchange risk on an unhedged basis and may therefore suffer further losses. While the hedging strategy may protect investors of the Currency Hedged Classes against a decrease in the value of the Fund s base currency relative to the denominated currency of that Currency Hedged Class, the hedging strategy may substantially limit the benefits of any potential increase in the value of a Currency Hedged Class expressed in the Class currency, if the Currency Hedged Class denominating currency falls against the base currency of the Fund. 新興市場風險 - 會計 審計及財務申報標準可能不如國際標準嚴格 國有化 徵用私產或充公性稅項 外匯管制 政治變動 政府規例 社會不穩定或外交發展均有可能對新興市場經濟或本基金之投資價值構成不利影響 集中投資組合風險 - 本基金集中投資於單一或一組界別之行業, 投資者應注意本基金較投資範圍廣泛之基金為波動, 並可能需承受不利影響 小型公司風險 - 由於中小型公司的流通性較低 較容易受經濟狀況轉變影響, 以及未來增長前景亦較為不確定, 所以股價可能會較大型公司更為波動, 而基金可能需承受不利影響 科技相關公司風險 - 本基金可能投資於科技相關公司, 其價值可能較其他基金更為波動而可能需承受不利影響, 因為科技相關公司股價的潛在波幅較大 76
貨幣風險 - 本基金投資之資產及其收益將或可能以與本基金之基本貨幣不同之貨幣計價 因此, 本基金之表現將受所持資產之貨幣兌本基金之結算貨幣之匯率變動所影響 基本貨幣有所不同 ( 或並非與本基金之結算貨幣掛鈎之貨幣 ) 之投資者可能會承受額外之貨幣風險, 並可能需承受不利影響 流通性風險 - 本基金可投資於其交易量或會因市場情緒而顯著波動之工具 本基金作出之投資或會面對因應市場發展及投資者之相反看法而變得流通性不足之風險 股票風險 - 股票市場可能大幅波動, 而股價可能急升急跌, 並將直接影響基金的資產淨值 當股票市場極為反覆時, 基金的資產淨 值可能大幅波動, 而基金可能需蒙受重大損失 貨幣對沖類別風險 - 各貨幣對沖類別可將基金之計價貨幣對沖回其計價貨幣, 旨在提供與以基金之基本貨幣計價的類別相關的投資回報 對沖交易的成本及所得盈虧將會反映於有關貨幣對沖類別單位之每單位資產淨值內 有關該等對沖交易的任何成本視乎當前市況而定可屬重大, 將只由該貨幣對沖類別承擔 應用於某特定貨幣對沖類別之確切對沖策略或會不同 此外, 概不保證能夠獲得預期的對沖工具或對沖策略將會達到預期效果 在該等情況下, 貨幣對沖類別之投資者可能仍需承受未對沖之貨幣兌換風險 ( 舉例而言, 如人民幣對沖類別之對沖策略無效, 視乎人民幣相對於基金的基本貨幣, 及 或該基金的非人民幣計價相關資產的其他貨幣的匯率走勢而定 :(i) 即使非人民幣計價的相關資產的價值上有收益或並無虧損, 投資者仍可能蒙受損失 ; 或 (ii) 如基金的非人民幣計價相關資產的價值下跌, 投資者可能蒙受額外損失 ) 倘若用作對沖目的之工具之交易對象違約, 貨幣對沖類別的投資者可能承受未對沖的貨幣兌換風險及可能因此承受進一步損失 儘管對沖策略可能保護貨幣對沖類別的投資者免受基金的基本貨幣相對於貨幣對沖類別之計價貨幣之價值下跌所影響, 惟倘若貨幣對沖類別之計價貨幣對基金之基本貨幣下跌, 則該對沖策略可能大幅限制以類別貨幣列值的貨幣對沖類別之任何潛在升值的利益 How has the fund performed? 本基金過往的業績表現如何? % 60 40 20 0-20 -40-60 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017-42.5 49.5 12.3-19.5 17.9 9.7 3.8 1.1 14.5 48.4 (acc) - USD class ( 累計 ) 美元類別 Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the last valuation day of the calendar year, NAV to NAV, with dividend reinvested. These figures show by how much the class increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. The Manager views (acc) - USD class being the focus class available to retail investors in Hong Kong as the most appropriate representative class. Fund launch date: 1997 Class launch date: 1997 過去業績資料並不代表將來表現 投資者未必能取回全部投資本金 業績表現以曆年之最後一個估值日的資產淨值作為基礎, 股息會滾存再作投資 上述數據顯示單位類別價值在有關曆年內的升跌幅度 業績表現以美元計算, 當中包括基金的經常性開支, 但不包括基金可能向閣下收取的認購費及贖回費 經理人視 ( 累計 ) 美元類別 作為本基金可供香港零售投資者認購的核心單位類別為最合適的代表單位類別 本基金成立日期 :1997 單位類別成立日期 :1997 Is there any guarantee? 本基金有否提供保證? This Fund does not provide any guarantees. You may not get back the full amount of money you invest. 本基金並不提供任何保證 閣下未必能取回全數投資本金 77
What are the fees and charges? 投資本基金涉及哪些費用及收費? Charges which may be payable by you 閣下或須繳付的收費 You may have to pay the following fees up to the rate listed below when dealing in the units of the Fund: 閣下買賣基金單位時或須繳付最高可達之費用如下 : Subscription fee (Initial charge) 認購費 : 5.0% of NAV 資產淨值之 5.0% Switching fee 轉換費 : 1.0% of NAV 資產淨值之 1.0% Redemption fee 贖回費 : Currently 0% (up to 0.5% of NAV) 現時為 0%( 最高可達資產淨值之 0.5%) Please refer to the Explanatory Memorandum of the Fund for the calculation methodology of the relevant charges. 請參閱本基金的基金說明書, 了解有關收費的計算方法 Ongoing fees payable by the Fund 本基金須持續繳付的費用 The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments. 以下費用將從基金中扣除, 閣下的投資回報將會因而減少 Management fee 管理費 : 1.5% of NAV p.a. (maximum 2.5%) 每年資產淨值之 1.5%( 最高可達 2.5%) Trustee fee 信託管理人費用 : 0.025% 0.06% of NAV p.a. (maximum 0.2%; subject to the NAV) 每年資產淨值之 0.025% 0.06%( 最高可達 0.2%; 根據基金資產淨值 ) Performance fee 表現費 : N/A 不適用 Administration fee 行政費 : N/A 不適用 Other fees 其他費用 The Fund may charge other fees. Please refer to the FEES, CHARGES AND LIABILITIES section in the Explanatory Memorandum of the Fund. 本基金或會收取其他費用 請參閱本基金的基金說明書內之 收費 開支及責任 一節 Additional information 其他資料 You generally buy, redeem or switch units at the Fund s next-determined net asset value after the Manager or Intermediaries receive your request in good order at or before 5.00pm (Hong Kong time) being the dealing cut-off time. The Manager or Intermediaries may impose different dealing deadlines for receiving requests from investors. The net asset value of this Fund is calculated and published on each dealing day. They are available online at www.jpmorganam.com.hk. 在交易截止時間即下午 5 時正 ( 香港時間 ) 或之前由經理人或中介人收妥的單位認購 贖回及轉換要求, 一般按基金隨後釐定的資產淨值執行 經理人或中介人設定的交易截止時間可能各有不同, 投資者應注意提交要求的截止時間 本基金在每一 交易日 計算及公布資產淨值 詳情請瀏覽 www.jpmorganam.com.hk Important 重要提示 If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 閣下如有疑問, 應諮詢專業意見 證監會對本概要的內容並不承擔任何責任, 對其準確性及完整性亦不作出任何陳述 KFS_AEA403/DP/v15/0618 78
Triple A 3) 2018 8 投資目標 基金資料 Oliver Cox/ 179.7 67.76 10.09 10.09 12 SEDOL ISIN Bloomberg 統計分析 77.78 (22.11.17) 64.32 (11.08.17) 5.0% ( ) 0% 1.5% B42H374 HK0000055761 JFPTECI HK 2) 0.97 0.96 0.77 Alpha % -0.10-0.13 0.48 Beta 0.95 0.94 1.01 % 15.62 14.04 27.03 Sharpe 1.04 0.89 0.27 % 3.65 3.78 17.25 % 17.15 13.19 9.55 31.12.02 至 31.07.18 表現 ( 以報價貨幣計 ) 500 400 400 300 走勢 300 200 比較 200 100 100 0 0-100 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 變動幅度 ( %) 摩根太平洋科技 ( 美元 )( 累計 ) MSCI 綜合太平洋資訊科技股淨回報指數 1) ( 自 01.07.01 起 ) 累積表現 (%) -0.1 +3.4 +60.8 +85.8 +577.6 15.08.97 1) -0.3 +6.9 +70.9 +109.0 +144.4 - - - - - 28.06.18 - - - - - 28.06.18 年度表現 (%) 2013 2014 2015 2016 2017 +9.7 +3.8 +1.1 +14.5 +48.4-5.3 1) +14.7 +7.2-3.3 +15.3 +58.0-4.2 - - - - - - - - - - - - 投資組合分析 地區分布中國 35.9% 日本 26.4% 南韓 17.9% 台灣 16.1% 澳洲 2.5% 流動資金 1.2% 類別分布 1.2% 流動資金 1.7% 工業 5.1% 非必需消費 92.0% 資訊科技 五大投資項目 2018 6 Tencent Holdings Ltd. 10.0 Alibaba Group Holding Ltd. 9.3 Samsung Electronics Co., Ltd. 9.3 Taiwan Semiconductor Manufacturing Co., Ltd. 8.5 Baidu, Inc. 5.8 查詢請聯絡閣下之 銀行 財務顧問或瀏覽 www.jpmorganam.com.hk /Factset Morningstar, Inc. SICAV 1) 01.07.01 MSCI 2) 3) 2018
PRODUCT KEY FACTS 產品資料概要 This statement replaces the statement dated April 2018. 本概要取代 2018 年 4 月之概要 JPMorgan Pacific Technology Fund 摩根太平洋科技基金 June 2018 2018 年 6 月 This statement provides you with key information about this product. This statement is a part of the offering document. You should not invest in this product based on this statement alone. 本概要提供本基金的重要資料, 是銷售文件的一部分 請勿單憑本概要作投資決定 Quick facts 資料便覽 Manager 經理人 : JPMorgan Funds (Asia) Ltd. 摩根基金 ( 亞洲 ) 有限公司 Investment Manager 投資經理人 : Trustee 信託管理人 : Ongoing charges over a year 全年經常性開支比率 : Dealing frequency 交易頻率 : Base currency 基本貨幣 : Dividend policy 派息政策 : JF Asset Management Ltd., Hong Kong (internal delegation) JF 資產管理有限公司, 香港 ( 同集團委任 ) HSBC Institutional Trust Services (Asia) Ltd. 滙豐機構信託服務 ( 亞洲 ) 有限公司 (acc) - AUD (hedged) class ( 累計 ) 澳元對沖類別 1.64% (acc) - HKD class ( 累計 ) 港元類別 1.64% (acc) - USD class ( 累計 ) 美元類別 1.64% (acc) - SGD (hedged) class 1 ( 累計 ) 新加坡元對沖類別 1.64% The ongoing charges figure is based on the annualised expenses for the period from 1 October 2017 to 31 March 2018 according to the unaudited semi-annual report for the period ended on 31 March 2018 and may vary from year to year. The ongoing charges figure is estimated because the class is recently launched. The figure is based on the estimated annualised costs and expenses of the Fund over 6 months expressed as a percentage of the estimated average net asset value of the Fund. The actual figure may be different from the estimated figure and may vary from year to year. 1 The class is distributed via selective distributors only. 經常性開支比率是根據截至 2018 年 3 月 31 日止期間之未經審核之半年度報告中由 2017 年 10 月 1 日至 2018 年 3 月 31 日的費用作年化計算, 每年均可能有所變動 由於類別是近期成立, 經常性開支比率為估算收費 開支比率是根據本基金 6 個月的估計成本及開支年化計算, 以佔本基金估計平均資產淨值的百分比列示 實際數字可能與估算數字不同, 且每年均可能有所變動 1 此類別只由指定分銷商分銷 Daily 每日 USD (The class offered in Hong Kong is in US dollars). Please refer to the section CLASSES OF UNITS in the Explanatory Memorandum of the Fund for details. 美元 ( 在香港銷售之類別以美元計價 ) 詳情請參閱本基金的基金說明書內之 單位類別 一節 (acc) class - Accumulative (income will be retained and reinvested within the corresponding class) ( 累計 ) 類別 - 累計 ( 收益將保留並撥作投資相應類別 ) Financial year end 財政年度終結日 : 30 September 9 月 30 日 Minimum investment 最低投資額 : Lump-sum (same amount for initial/additional): USD2,000 or its equivalent in another currency Regular Investment Plan: HKD1,000 per month 整額 ( 首次及其後每次相同 ):2,000 美元或其他貨幣之等值定期投資計劃 : 每月 1,000 港元 The Manager may apply a different minimum lump sum investment and/or a different minimum monthly investment. 經理人可設定不同的最低整筆投資額及 / 或不同的最低每月投資額 What is this product? 本基金是甚麼產品? This is a fund constituted in the form of a unit trust under the laws of Hong Kong. 本基金是一個根據香港法律以單位信託形式組成的基金 Issued by JPMorgan Funds (Asia) Ltd. 由摩根基金 ( 亞洲 ) 有限公司刊發 75
Objective and investment strategy 目標及投資策略 The investment policy of the Fund is to provide long-term capital growth through a portfolio consisting primarily of securities of technology companies in the Pacific region, including Japan. The Fund may also invest in derivatives such as forward contracts, options, warrants and futures for investment purposes and may under limited circumstances as considered appropriate by the Manager and the Investment Manager, hold substantial amounts of its portfolio in cash and cash based instruments. 基金之投資政策為透過一個主要投資於在太平洋地區 ( 包括日本 ) 之科技公司之證券之投資組合, 為投資者提供長遠資本增值 基金亦可為投資目的而投資於衍生工具, 例如遠期合約 期權 認股權證及期貨, 並在經理人及投資經理人認為合適之有限情況下, 於其投資組合內大量持有現金及以現金為本的工具 What are the KEY RISKS? 本基金有哪些主要風險? Investment involves risk. Please refer to the offering document(s) for details, including the risk factors. 投資涉及風險 請參閱銷售文件所載詳情, 包括風險因素 Emerging markets risk Accounting, auditing and financial reporting standards may be less rigorous than international standards. There is a possibility of nationalisation, expropriation or confiscatory taxation, foreign exchange control, political changes, government regulation, social instability or diplomatic developments which could affect adversely the economies of emerging markets or the value of the Fund s investments. Concentrated portfolio risk The Fund concentrates its investments in a single industry or group of industries. Investors should be aware that the Fund is likely to be more volatile than a broad-based fund and may be adversely impacted. Smaller companies risk The stock prices of small and medium-sized companies may tend to be more volatile than large-sized companies and the Fund may be adversely impacted, due to a lower degree of liquidity, greater sensitivity to changes in economic conditions and higher uncertainty over future growth prospects. Technology related companies risk The Fund may invest in technology related companies, which may fluctuate in value more than other funds and may be adversely impacted because of the greater potential volatility of share prices of technology related companies. Currency risk The assets in which the Fund is invested and the income from the assets will or may be quoted in currency which are different from the Fund s base currency. The performance of the Fund will therefore be affected by movements in the exchange rate between the currencies in which the assets are held and Fund s currency of denomination. Investors whose base currency is different (or not in a currency linked to the Fund s currency of denomination) may be exposed to additional currency risk and may be adversely impacted. Liquidity risk The Fund may invest in instruments where the volume of transactions may fluctuate significantly depending on market sentiment. There is a risk that investments made by the Fund may become less liquid in response to market developments or adverse investor perceptions and the Fund may be adversely impacted. Equity risk Equity markets may fluctuate significantly with prices rising and falling sharply, and this will have a direct impact on the Fund s net asset value. When equity markets are extremely volatile, the Fund s net asset value may fluctuate substantially and the Fund could suffer substantial loss. Currency Hedged Classes risk Each Currency Hedged Class may hedge the Fund s denominated currency back to its currency of denomination, with an aim to provide a return on investment which correlates with the return of the Class of unit which is denominated in the base currency of the Fund. The costs and resultant profit or loss on the hedging transactions will be reflected in the net asset value per unit for the units of the relevant Currency Hedged Classes. The costs relating to such hedging transactions which may be significant depending on prevailing market conditions shall be borne by that Currency Hedged Class only. The precise hedging strategy applied to a particular Currency Hedged Class may vary. In addition, there is no guarantee that the desired hedging instruments will be available or hedging strategy will achieve its desired result. In such circumstances, investors of the Currency Hedged Class may still be subject to the currency exchange risk on an unhedged basis (which means that, for example, if the hedging strategy in respect of the AUD Hedged Class is ineffective, depending on the exchange rate movements of AUD relative to the base currency of the Fund, and/or other currency(ies) of the non-aud denominated underlying investment of the Fund, (i) investors may still suffer losses even if there are gains or no losses in the value of the non-aud denominated underlying investments; or (ii) investors may suffer additional losses if the non-aud denominated underlying investments of the Fund fall in value). If the counterparties of the instruments used for hedging purposes default, investors of the Currency Hedged Classes may be exposed to the currency exchange risk on an unhedged basis and may therefore suffer further losses. While the hedging strategy may protect investors of the Currency Hedged Classes against a decrease in the value of the Fund s base currency relative to the denominated currency of that Currency Hedged Class, the hedging strategy may substantially limit the benefits of any potential increase in the value of a Currency Hedged Class expressed in the Class currency, if the Currency Hedged Class denominating currency falls against the base currency of the Fund. 新興市場風險 - 會計 審計及財務申報標準可能不如國際標準嚴格 國有化 徵用私產或充公性稅項 外匯管制 政治變動 政府規例 社會不穩定或外交發展均有可能對新興市場經濟或本基金之投資價值構成不利影響 集中投資組合風險 - 本基金集中投資於單一或一組界別之行業, 投資者應注意本基金較投資範圍廣泛之基金為波動, 並可能需承受不利影響 小型公司風險 - 由於中小型公司的流通性較低 較容易受經濟狀況轉變影響, 以及未來增長前景亦較為不確定, 所以股價可能會較大型公司更為波動, 而基金可能需承受不利影響 科技相關公司風險 - 本基金可能投資於科技相關公司, 其價值可能較其他基金更為波動而可能需承受不利影響, 因為科技相關公司股價的潛在波幅較大 76
貨幣風險 - 本基金投資之資產及其收益將或可能以與本基金之基本貨幣不同之貨幣計價 因此, 本基金之表現將受所持資產之貨幣兌本基金之結算貨幣之匯率變動所影響 基本貨幣有所不同 ( 或並非與本基金之結算貨幣掛鈎之貨幣 ) 之投資者可能會承受額外之貨幣風險, 並可能需承受不利影響 流通性風險 - 本基金可投資於其交易量或會因市場情緒而顯著波動之工具 本基金作出之投資或會面對因應市場發展及投資者之相反看法而變得流通性不足之風險 股票風險 - 股票市場可能大幅波動, 而股價可能急升急跌, 並將直接影響基金的資產淨值 當股票市場極為反覆時, 基金的資產淨 值可能大幅波動, 而基金可能需蒙受重大損失 貨幣對沖類別風險 - 各貨幣對沖類別可將基金之計價貨幣對沖回其計價貨幣, 旨在提供與以基金之基本貨幣計價的類別相關的投資回報 對沖交易的成本及所得盈虧將會反映於有關貨幣對沖類別單位之每單位資產淨值內 有關該等對沖交易的任何成本視乎當前市況而定可屬重大, 將只由該貨幣對沖類別承擔 應用於某特定貨幣對沖類別之確切對沖策略或會不同 此外, 概不保證能夠獲得預期的對沖工具或對沖策略將會達到預期效果 在該等情況下, 貨幣對沖類別之投資者可能仍需承受未對沖之貨幣兌換風險 ( 舉例而言, 如人民幣對沖類別之對沖策略無效, 視乎人民幣相對於基金的基本貨幣, 及 或該基金的非人民幣計價相關資產的其他貨幣的匯率走勢而定 :(i) 即使非人民幣計價的相關資產的價值上有收益或並無虧損, 投資者仍可能蒙受損失 ; 或 (ii) 如基金的非人民幣計價相關資產的價值下跌, 投資者可能蒙受額外損失 ) 倘若用作對沖目的之工具之交易對象違約, 貨幣對沖類別的投資者可能承受未對沖的貨幣兌換風險及可能因此承受進一步損失 儘管對沖策略可能保護貨幣對沖類別的投資者免受基金的基本貨幣相對於貨幣對沖類別之計價貨幣之價值下跌所影響, 惟倘若貨幣對沖類別之計價貨幣對基金之基本貨幣下跌, 則該對沖策略可能大幅限制以類別貨幣列值的貨幣對沖類別之任何潛在升值的利益 How has the fund performed? 本基金過往的業績表現如何? % 60 40 20 0-20 -40-60 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017-42.5 49.5 12.3-19.5 17.9 9.7 3.8 1.1 14.5 48.4 (acc) - USD class ( 累計 ) 美元類別 Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the last valuation day of the calendar year, NAV to NAV, with dividend reinvested. These figures show by how much the class increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. The Manager views (acc) - USD class being the focus class available to retail investors in Hong Kong as the most appropriate representative class. Fund launch date: 1997 Class launch date: 1997 過去業績資料並不代表將來表現 投資者未必能取回全部投資本金 業績表現以曆年之最後一個估值日的資產淨值作為基礎, 股息會滾存再作投資 上述數據顯示單位類別價值在有關曆年內的升跌幅度 業績表現以美元計算, 當中包括基金的經常性開支, 但不包括基金可能向閣下收取的認購費及贖回費 經理人視 ( 累計 ) 美元類別 作為本基金可供香港零售投資者認購的核心單位類別為最合適的代表單位類別 本基金成立日期 :1997 單位類別成立日期 :1997 Is there any guarantee? 本基金有否提供保證? This Fund does not provide any guarantees. You may not get back the full amount of money you invest. 本基金並不提供任何保證 閣下未必能取回全數投資本金 77
What are the fees and charges? 投資本基金涉及哪些費用及收費? Charges which may be payable by you 閣下或須繳付的收費 You may have to pay the following fees up to the rate listed below when dealing in the units of the Fund: 閣下買賣基金單位時或須繳付最高可達之費用如下 : Subscription fee (Initial charge) 認購費 : 5.0% of NAV 資產淨值之 5.0% Switching fee 轉換費 : 1.0% of NAV 資產淨值之 1.0% Redemption fee 贖回費 : Currently 0% (up to 0.5% of NAV) 現時為 0%( 最高可達資產淨值之 0.5%) Please refer to the Explanatory Memorandum of the Fund for the calculation methodology of the relevant charges. 請參閱本基金的基金說明書, 了解有關收費的計算方法 Ongoing fees payable by the Fund 本基金須持續繳付的費用 The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments. 以下費用將從基金中扣除, 閣下的投資回報將會因而減少 Management fee 管理費 : 1.5% of NAV p.a. (maximum 2.5%) 每年資產淨值之 1.5%( 最高可達 2.5%) Trustee fee 信託管理人費用 : 0.025% 0.06% of NAV p.a. (maximum 0.2%; subject to the NAV) 每年資產淨值之 0.025% 0.06%( 最高可達 0.2%; 根據基金資產淨值 ) Performance fee 表現費 : N/A 不適用 Administration fee 行政費 : N/A 不適用 Other fees 其他費用 The Fund may charge other fees. Please refer to the FEES, CHARGES AND LIABILITIES section in the Explanatory Memorandum of the Fund. 本基金或會收取其他費用 請參閱本基金的基金說明書內之 收費 開支及責任 一節 Additional information 其他資料 You generally buy, redeem or switch units at the Fund s next-determined net asset value after the Manager or Intermediaries receive your request in good order at or before 5.00pm (Hong Kong time) being the dealing cut-off time. The Manager or Intermediaries may impose different dealing deadlines for receiving requests from investors. The net asset value of this Fund is calculated and published on each dealing day. They are available online at www.jpmorganam.com.hk. 在交易截止時間即下午 5 時正 ( 香港時間 ) 或之前由經理人或中介人收妥的單位認購 贖回及轉換要求, 一般按基金隨後釐定的資產淨值執行 經理人或中介人設定的交易截止時間可能各有不同, 投資者應注意提交要求的截止時間 本基金在每一 交易日 計算及公布資產淨值 詳情請瀏覽 www.jpmorganam.com.hk Important 重要提示 If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 閣下如有疑問, 應諮詢專業意見 證監會對本概要的內容並不承擔任何責任, 對其準確性及完整性亦不作出任何陳述 KFS_AEA403/DP/v15/0618 78