GF INVESTMENT FUNDS. GF China RMB Fixed Income Fund

Transcription

1 GF INVESTMENT FUNDS GF China Fixed Income Fund Interim Report (Unaudited)

2 Interim Report (Unaudited) CONTENTS Page MANAGEMENT AND ADMINISTRATION 3 STATEMENT OF FINANCIAL POSITION (Unaudited) 4 STATEMENT OF COMPREHENSIVE INCOME (Unaudited) 5 STATEMENT OF CHANGES IN EQUITY (Unaudited) 6 STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (Unaudited) 6 INVESTMENT PORTFOLIO 7 PERFORMANCE TABLE (Unaudited) 8 2

3 MANAGEMENT AND ADMINISTRATION MANAGER GF Asset Management () Limited 23rd Floor COSCO Tower 183 Queen s Road Central Central RQFII Holder GF Holdings () Corporation Limited 23rd Floor COSCO Tower 183 Queen s Road Central Central Trustee and Registrar BOCI-Prudential Trustee Limited 12/F & 25/F, Citicorp Centre 18 Whitfield Road Causeway Bay Directors of the Manager Lin Xianghong Ye Peng Custodian Bank of China () Limited 14/F., Bank of China Tower 1 Garden Road Solicitors to the Manager Deacons 5/F, Alexandra House 18 Chater Road Central RQFII Custodian Bank of China Limited No. 1, Fuxingmen Nei Dajie Beijing China Auditors Deloitte Touche Tohmatsu 35/F One Pacific Place 88 Queensway 3

4 STATEMENT OF FINANCIAL POSITION (Unaudited) As at 30th June 2012 ASSETS Financial assets at fair value through profit or loss 816,130,870 Preliminary expenses 1,034,467 Interest receivable on bank deposits and bonds 7,778,512 Dividend receivable 51,162 Amount receivable on subscription 923,603 Cash and cash equivalents 37,590,002 TOTAL ASSETS 863,508,616 LIABILITIES Management fee payable 1,291,046 Trustee fee payable 108,781 Withholding tax payable 2,050,982 Accrued expenses and other payable 1,739,981 Amounts payable on redemption 11,920,487 TOTAL LIABILITIES 17,111,277 EQUITY Share capital 832,247,134 Retained earnings 14,150,205 TOTAL EQUITY 846,397,339 TOTAL LIABILITIES AND EQUITY 863,508,616 NUMBER OF UNITS IN ISSUE (CLASS A) 2,694, NUMBER OF UNITS IN ISSUE (CLASS I) 5,626, NET ASSET VALUE PER UNIT (CLASS A) NET ASSET VALUE PER UNIT (CLASS I)

5 STATEMENT OF COMPREHENSIVE INCOME (Unaudited) INCOME Dividends 617,954 Interest revenue on financial assets at fair value through profit or loss 5,756,595 Interest revenue on bank deposits 1,207,347 Net unrealized gains on financial assets at fair value through profit or loss 12,213,623 Net gains on financial assets at fair value through profit or loss 150,313 19,945,832 EXPENSES Management fee 2,264,479 Trustee fee 402,925 Custodian fee 116,293 Auditors remuneration 57,355 Preliminary expenses 70,622 Publishing expenses 3,023 Brokerage fee and other transaction costs 194,474 Withholding tax 2,681,434 Other expenses 4,705 Net foreign exchange losses 317 5,795,627 PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 14,150,205 5

6 STATEMENT OF CHANGES IN EQUITY (Unaudited) Share capital Retained earnings Total At 2nd March 2012 (date of inception) Subscription of units 850,681, ,681,247 Redemption of units (18,434,113) (18,434,113) Dividend Distribution Total comprehensive income for the period 14,150,205 14,150,205 As at 30th June ,247,134 14,150, ,397,339 STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (Unaudited) For the Period ended 30th June th June nd March 2012 (Date of inception) % % Fixed Interest Securities CHINA Listed debt securities Unlisted/Quoted debt securities Collective Investment Schemes 2.37 TOTAL LISTED/QUOTED INVESTMENTS Other net assets 3.57 Net assets at 30th June

7 INVESTMENT PORTFOLIO As at 30th June 2012 Fixed Interest Securities Quantity/ Holdings Market Value % of Net Asset CHINA Listed debt securities BANK OF CHINA LTD CB 1.1% A 02JUN ,000 9,711, CHINA PETROLEUM & CHEMICAL CORP 0.8% A 20FEB ,210 21,918, CHINA SHIPBUILDING INDUSTRY CORP CB 0.5% A 04JUN ,780 1,438, CITIC GUOAN INFORMATION INDUSTRY CO LTD 1.2% A 14SEP2013 WW 173,060 16,674, GD POWER DEVELOPMENT CO LTD 1% A 07MAY ,610 13,999, GUANGAN INVESTMENT HLDG GROUP CO LTD 8.18% A 25APR ,000 30,000, GUANGZHOU ZHIGUANG ELECTRIC CO LTD 7.98% A 23MAR ,000 20,600, HEBEI IRON & STEEL CO LTD CB 2% A 14DEC ,212 19,827, INDUSTRIAL & COMMERCIAL BANK OF CHINA CB 0.7% A 31AUG ,000 21,774, JIANGXI COPPER CO LTD 1% A 22SEP2016 WW 240,000 20,798, KANGMEI PHARMACEUTICAL CO LTD 0.8% A 08MAY ,210 20,265, NINGBO PORT CO LTD 4.69% A 16APR ,000 20,200, SHANGHAI INTL PORT GROUP CO LTD 4.69% A 30MAR ,000 5,069, SHENZHEN CHIWAN WHARF HLDGS LTD 5.28% A 26APR ,000 20,300, SICHUAN CHUANTOU ENERGY CO LTD CB 0.7% A 21MAR ,000 3,114, SINOCHEM INTL CORP 1.8% A 01DEC ,610 5,312, SINOCHEM INTL CORP 4.99% A 05MAR ,000 51,000, TSINGTAO BREWERY CO LTD 0.8% A 02APR ,170 2,661, XINYU IRON & STEEL CO LTD CB 2.4% A 21AUG ,050 22,413, Unlisted/Quoted debt securities CHANGSHA CITY CONSTRUCTION INVESTMENT & DEVELOPMENT CO LTD 6.95% A 24APR ,000 31,250, CHANGSHA TONGCHENG ENTERPRISE GROUP CO LTD 5.3% A 14MAY ,000 30,490, CHINA MERCHANTS SECURITIES CO LTD 3.2% A 31AUG ,000 59,974, CHINA MINISTRY OF RAILWAYS 3.69% A 18MAY ,000 30,069, CHONGQING CONSTRUCTION ENGINEERING GROUP CORP LTD 6.1% A 21MAR ,000 62,217, CHONGQING LAND PROPERTIES CO GROUP 7.35% A 25APR ,000 51,619, EXPORT-IMPORT BANK OF CHINA 3.49% A 30MAY ,000 29,880, GUIZHOU CHITIANHUA GROUP CO LTD 5.94% A 04MAY ,000 30,880, HUNAN PROVINCIAL EXPRESSWAY CONSTRUCTION GROUP 6% A 10MAY ,000 10,069, JIANGSU COMMUNICATIONS HLDG CO 4.01% A 23MAY ,000 10,047, JIANGSU COMMUNICATIONS HLDG CO 4.01% A 24MAY ,000 30,144, KUNMING IRON AND STEEL CO LTD 5.78% A 26APR ,000 30,784, MAANSHAN CITY DEVELOPMENT INVESTMENT GROUP CO LTD 6.9% A 27MAR ,000 21,041, NANTONG TIANSHENGGANG POWER GENERATION CO LTD 5% A 16OCT ,000 20,050, URUMQI STATE-OWNED ASSET MANAGEMENT CO LTD 6.48% A 28APR ,000 20,459, Collective Investment Schemes CHINA UNIVERSAL MONEY MARKET FUND B 10,027,568 10,027, HARVEST MONEY MARKET FUND 10,047,071 10,047, TOTAL LISTED/QUOTED INVESTMENTS 816,130, OTHER NET ASSETS 30,266, NET ASSETS AS AT 30th JUNE ,397, TOTAL INVESTMENTS, AT COST 803,917,247 7

8 PERFORMANCE TABLE (Unaudited) Highest issue price per unit Lowest redemption price per unit Class A Class I Class A Class I Financial period ended as at 30th June