Value Gold ETF (Unlisted Class)
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Risk Disclosure
- Value Gold ETF (the “Fund”) is a fund listed on the Stock Exchange of Hong Kong Limited (“SEHK”), which aims to provide investment results that closely correspond to the performance of the London Bullion Market Association (LBMA) Gold Price.
- The Fund only invests in bullion and may experience greater volatility due to single economic, market or political occurrences when compared to diversified mutual funds or unit trusts.
- The Fund offers both listed class of units (the “Listed Class”) and unlisted class of Units (the “Unlisted Class”). Investors of Listed and Unlisted Classes are subject to different pricing and dealing arrangements. The NAV per unit of each of the Listed and Unlisted Classes may be different due to different fees and cost applicable to each Class. The dealing deadlines in respect of the Listed and Unlisted Class are also different.
- Units of the Listed Class are traded on the stock exchange on an intraday basis at the prevailing market price (which may diverge from the corresponding NAV), while units of the Unlisted Class are sold through intermediaries based on the dealing day-end NAV and are dealt at a single valuation point with no access to intraday liquidity in an open market. Depending on market conditions, investors of the Listed Class may be at an advantage or disadvantage compared to investors of the Unlisted Class.
- In a stressed market scenario, investors of the Unlisted Class could redeem their units at NAV while investors of the Listed Class could not and may have to exit the Fund at a significant discount. On the other hand, investors of the Listed Class could sell their units on the secondary market during the day thereby crystallising their positions while investors of the Unlisted Class could not do so in a timely manner until the end of the day.
- Investors of Listed and Unlisted Classes are subject to different types of risks. For example, Investors of the Listed Class are exposed to reliance on market makers risk and multi-counter risk.
- The Fund does not insure its bullion and the Fund and unitholders could suffer a loss if the bullion held by the custodian is lost or damaged.
- As the Fund is not actively managed, the Manager will not adopt a temporary defensive position against any market downturn. Investors may lose part or all of their investment.
- You should not make investment decision on the basis of this material alone. Please read the prospectus for details and risk factors.
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Performance
Performance Updateas at 18-11-2024
Annual Returns
Annual Returns
Performance Since Launch as at 18-11-2024
Performance Since Launch
Tracking Difference as at 31-10-2024
Tracking difference ("TD") is the return difference between the Fund and the Underlying Index over a certain period of time.
Class A USD Unhedged Acc Class A HKD Unhedged Acc Rolling one year (from 01-11-2023 to 31-10-2024) : -0.54% -0.54% 2023: -0.61% -0.47% 2022: -0.39% -0.39% Tracking Erroras at 31-10-2024
Tracking error ("TE") measures how consistently the Fund follows the Underlying Index. It is the volatility (measured by standard deviation) of that return difference.
Class A USD Unhedged Acc Class A HKD Unhedged Acc 0.02% 0.02% Total gold in trust as at 20-11-2024
Kilograms 4,043.60 Gold value HKD2,654,959,385.27 Gold bar list
as at (21-11-2024)
Performance shown is NAV to NAV in denominated currency with income reinvested and net of fees. For funds/classes denominated in foreign currencies, US/HK dollar-based investors are therefore exposed to fluctuations in the currency exchange rate.
Investment involves risk. Past performance is not indicative of future performance. The price of units/NAV per share can go down as well as up and is not guaranteed. Investors may not get back the full amount invested. Please refer to the relevant offering documents including the risk factors.
+The Fund is one of the eligible collective investment schemes for the purpose of the New Capital Investment Entrant Scheme (New CIES) in Hong Kong with effect from 1 March 2024. -
Fund Facts
Investment objectives
The investment objective is to provide investment results that, before fees and expenses, closely correspond to the performance of the LBMA Gold Price.
Fund manager Sensible Asset Management Hong Kong Limited
Sub-Manager Value Partners Hong Kong Limited
Trustee and Registrar HSBC Institutional Trust Services (Asia) Limited
Custodian HKIA Precious Metals Depositary Limited (a wholly owned subsidiary of the Airport Authority of Hong Kong)
Launch date Class A USD Unhedged Acc Units: 23-03-2021
Class A HKD Unhedged Acc Units: 23-03-2021Classes Class A USD Unhedged Acc Units
Class A HKD Unhedged Acc UnitsMinimum initial investment, subsequent investment, holding and redemption amount Class A USD Unhedged Acc Units: USD1,000,000
Class A HKD Unhedged Acc Units: HKD8,000,000Ongoing charges over a year^ Class A USD Unhedged Acc Units: 0.40%
Class A HKD Unhedged Acc Units: 0.40%Dealing frequency Daily
^Total Expense Ratio (ongoing charges figure) is calculated according the annualized figure of the ongoing charges in the trust, represented by the percentage of total expense of the trust to the average net asset value over the same period. The figure may change annually. The trust adopted the single management fee structure. The upper limit of the ongoing charges of the trust will be 0.4% of the average net asset value of the trust, which is the same as the current management fee. Any ongoing charges exceeding 0.4% of the average net asset value of the trust will be borne by the manager and will not be charged to the trust. For details, please read the prospectus.
+The Fund is one of the eligible collective investment schemes for the purpose of the New Capital Investment Entrant Scheme (New CIES) in Hong Kong with effect from 1 March 2024. -
Documents
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Historical Prices
Date Class A USD Unhedged Acc Class A HKD Unhedged Acc This material has not been reviewed by the Securities and Futures Commission of Hong Kong.
Please note that investment involves risks. The unit price of the Funds may go down as well as up and the past performance of the Funds does not indicate future return. Investors should refer to the explanatory memorandum of the Funds for further details and the risk factors prior to the subscription of the units of the Fund.Date Class A USD Unhedged Acc Class A HKD Unhedged Acc This material has not been reviewed by the Securities and Futures Commission of Hong Kong.
Please note that investment involves risks. The unit price of the Funds may go down as well as up and the past performance of the Funds does not indicate future return. Investors should refer to the explanatory memorandum of the Funds for further details and the risk factors prior to the subscription of the units of the Fund. -
Awards
Year Award Organizers 2023 Top Funds To Watch 2023
Outstanding Performer – ETFs – NAV Tracking Error 1 Year – CommodityBloomberg Businessweek/Chinese Edition 2019 Benchmark Fund of the Year Awards 2019, Hong Kong
Value Gold ETF
Quantitative Top Fund – Precious Metals Commodity Category (Best-in-Class)Benchmark 2018 Benchmark Fund of the Year Awards 2018, Hong Kong
Sensible Asset Management
Commodity ETF House (Best-in-Class)Benchmark Value Gold ETF
Best ETF – Commodities and Specialty Category (Outstanding Performer)Based on NAV tracking error.
Bloomberg Businessweek 2017 Benchmark Fund of the Year Awards 2017, Hong Kong
Sensible Asset Management
House Award (ETF) – Commodity ETF (Outstanding Achiever)Benchmark Value Gold ETF
Best ETF – Commodities and Specialty Category (Outstanding Performer)Based on NAV tracking error
Bloomberg Businessweek 2016 Benchmark Fund of the Year Awards 2016
Value Gold ETF
Best-in-class (ETF) – Commodities – Precious MetalBenchmark Bloomberg Businessweek Top Fund Awards 2016
Value Gold ETF
Commodities and Specialty ETFs – Best PerformerBased on NAV Tracking Error
Bloomberg Businessweek (Chinese Edition) Bloomberg Businessweek Top Fund Awards 2016
Value Gold ETF
Commodities and Specialty ETFs – Outstanding PerformerBased on NAV Total return
Bloomberg Businessweek (Chinese Edition) ETF and Indexing Awards 2016
Value Partners
Best Commodity ETFETFI Asia 2014 Fund of The Year Awards 2014
Value Partners
Outstanding Achiever – ETF Investor EducationBenchmark 2012 2012 The Asset Triple A Investment Awards
Value Partners
Highly Commended ETF House for Hong KongThe Asset Best of the Best Awards 2011
Value Gold ETF
Best of the Best Regional Awards – Best Performing Small ETFAsia Asset Management 2011 Best of the Best Awards 2010
Value Gold ETF
Best of the Best Country Awards – Hong Kong – Best New ETF categoryAsia Asset Management This material has not been reviewed by the Securities and Futures Commission of Hong Kong.
Investors should refer to the explanatory memorandum of the Funds for further details and the risk factors prior to the subscription of the units of the Fund.Year Award Organizers 2023 Top Funds To Watch 2023
Outstanding Performer – ETFs – NAV Tracking Error 1 Year – CommodityBloomberg Businessweek/Chinese Edition 2019 Benchmark Fund of the Year Awards 2019, Hong Kong
Value Gold ETF
Quantitative Top Fund – Precious Metals Commodity Category (Best-in-Class)Benchmark 2018 Benchmark Fund of the Year Awards 2018, Hong Kong
Sensible Asset Management
Commodity ETF House (Best-in-Class)Benchmark Value Gold ETF
Best ETF – Commodities and Specialty Category (Outstanding Performer)Based on NAV tracking error.
Bloomberg Businessweek 2017 Benchmark Fund of the Year Awards 2017, Hong Kong
Sensible Asset Management
House Award (ETF) – Commodity ETF (Outstanding Achiever)Benchmark Value Gold ETF
Best ETF – Commodities and Specialty Category (Outstanding Performer)Based on NAV tracking error
Bloomberg Businessweek 2016 Benchmark Fund of the Year Awards 2016
Value Gold ETF
Best-in-class (ETF) – Commodities – Precious MetalBenchmark Bloomberg Businessweek Top Fund Awards 2016
Value Gold ETF
Commodities and Specialty ETFs – Best PerformerBased on NAV Tracking Error
Bloomberg Businessweek (Chinese Edition) Bloomberg Businessweek Top Fund Awards 2016
Value Gold ETF
Commodities and Specialty ETFs – Outstanding PerformerBased on NAV Total return
Bloomberg Businessweek (Chinese Edition) ETF and Indexing Awards 2016
Value Partners
Best Commodity ETFETFI Asia 2014 Fund of The Year Awards 2014
Value Partners
Outstanding Achiever – ETF Investor EducationBenchmark 2012 2012 The Asset Triple A Investment Awards
Value Partners
Highly Commended ETF House for Hong KongThe Asset Best of the Best Awards 2011
Value Gold ETF
Best of the Best Regional Awards – Best Performing Small ETFAsia Asset Management 2011 Best of the Best Awards 2010
Value Gold ETF
Best of the Best Country Awards – Hong Kong – Best New ETF categoryAsia Asset Management This material has not been reviewed by the Securities and Futures Commission of Hong Kong.
Investors should refer to the explanatory memorandum of the Funds for further details and the risk factors prior to the subscription of the units of the Fund.Other Funds