| Morningstar Fund Report | 05/04/2025 |  |
HSBC Global Investment Funds - Asia High Yield Bond XC |
| Performance History | 31/03/2025 |
| Growth of 1,000 (GBP) | Advanced Graph |
 | Fund | -13.8 | -10.9 | -11.0 | 12.6 | -1.6 |
| +/-Cat | 0.1 | -2.4 | -2.3 | 1.4 | 0.6 |
| +/-B’mrk | -3.6 | -6.5 | -9.8 | -4.7 | -1.6 |
| Category: Asia High Yield Bond | ||||||
| Category Benchmark: JPM ACI Non Investment Grad... | ||||||
| Key Stats | ||
| NAV 03/04/2025 | USD 7.97 | |
| Day Change | -1.88% | |
| Morningstar Category™ | Asia High Yield Bond | |
| ISIN | LU2065168523 | |
| Fund Size (Mil) 02/04/2025 | USD 585.26 | |
| Share Class Size (Mil) 02/04/2025 | USD 119.04 | |
| Max Initial Charge | - | |
| Ongoing Charge 23/12/2024 | 0.72% | |
| Investment Objective: HSBC Global Investment Funds - Asia High Yield Bond XC |
| The sub-fund aims to provide long term total return by investing in a portfolio of Asian high yield bonds. The sub-fund invests in normal market conditions a minimum of 70% of its net assets in Non-Investment Grade rated and unrated fixed income securities which are either issued by companies which are domiciled in, based in or carry out the larger part of their business in Asia or issued or guaranteed by government, government agencies or supranational bodies in Asia. Investment in onshore Chinese fixed income securities include, but are not limited to, onshore fixed income securities denominated in RMB, issued within the People’s Republic of China (“PRC”) and traded on the China Interbank Bond Market (“CIBM”). The sub-fund may invest in the CIBM either through Bond Connect and/or the CIBM Initiative. The sub-fund may invest up to 30% of its net assets in onshore Chinese bonds issued by, amongst other, municipal and local governments, companies and policy banks. |
| Returns | |||||||||||||
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| Management | ||
Manager Name Start Date | ||
Alfred Mui 27/11/2019 | ||
Ming Leap 01/02/2021 | ||
Inception Date 27/11/2019 | ||
| Category Benchmark | |
| Fund Benchmark | Morningstar Benchmark |
| JPM ACI Corp Non-Investment Grade TR USD | JPM ACI Non Investment Grade TR USD |
| Portfolio Profile for HSBC Global Investment Funds - Asia High Yield Bond XC | 31/01/2025 |
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| Growth Of 1000 (GBP) | 31/03/2025 |
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| Annual Returns (GBP) | 31/03/2025 | |||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | 31/03 | |||
| Price Return | 7.51 | -13.78 | -10.88 | -11.00 | 12.56 | -1.63 | ||
| +/- Category | 6.18 | 0.08 | -2.38 | -2.27 | 1.43 | 0.62 | ||
| +/- Category Index | 5.81 | -3.56 | -6.49 | -9.85 | -4.68 | -1.56 | ||
| % Rank in Category | 6 | 50 | 67 | 80 | 57 | 79 | ||
| Trailing Returns (GBP) | 03/04/2025 | ||
| Total Returns | +/- Category | +/- Category Index | |
| 1 Day | -1.88 | -0.04 | -3.30 |
| 1 Week | -2.14 | 0.08 | -1.06 |
| 1 Month | -4.41 | -0.35 | -1.85 |
| 3 Months | -5.21 | -1.29 | -2.76 |
| 6 Months | -1.24 | -2.34 | -4.48 |
| YTD | -4.02 | -1.23 | -2.76 |
| 1 Year | 2.40 | -2.16 | -5.13 |
| 3 Years Annualised | -2.10 | -4.37 | -7.44 |
| 5 Years Annualised | -4.16 | -2.47 | -5.18 |
| 10 Years Annualised | - | - | - |
| Category: Asia High Yield Bond | |||
| Category Index: JPM ACI Non Investment Grade TR USD | |||
| Quarterly Returns (GBP) | 31/03/2025 | |||
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| 2025 | -1.63 | - | - | - |
| 2024 | 5.58 | 3.13 | -1.70 | 5.17 |
| 2023 | -2.12 | -7.49 | -3.30 | 1.65 |
| 2022 | -9.10 | -4.88 | 0.90 | 2.15 |
| 2021 | -0.99 | -0.25 | -3.21 | -9.80 |
| 2020 | -3.16 | 13.86 | -2.22 | -0.28 |
| Morningstar Rating™(Relative to Category) | 28/02/2025 | ||||||||||||||||||||
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| Category : Asia High Yield Bond | Click here to see our Methodology | ||||||||||||||||||||
| Volatility Measurements | 31/03/2025 | ||||||||||
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| Modern Portfolio Statistics | 31/03/2025 | 31/03/2025 |
| Standard Index | Best Fit Index | |
| JPM ACI Non Investment Grade TR USD | JPM ACI Non Investment Grade TR USD | |
| 3-Yr Beta | 0.95 | 0.95 |
| 3-Yr Alpha | -7.12 | -7.12 |
| Fixed Income Style | 31/01/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Asset Allocation | 31/01/2025 |
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| Top 10 Holdings | 31/01/2025 |
| Portfolio NEW | |
| Total Number of Equity Holdings | 0 |
| Total Number of Bond Holdings | 168 |
| Assets in Top 10 Holdings | 15.77 |
| Name | Sector | Country | % of Assets | ||
 Vedanta Resources Finance II PLC 10.875% |  | India | 2.10 | ||
| San Miguel Global Power Holdings Corp...
| | Philippines | 1.83 | ||
| GLP China Holdings Ltd. 2.95% | | China | 1.81 | ||
| Standard Chartered PLC 7.625% | | United Kingdom | 1.51 | ||
| Golomt Bank JSC 11% | | Mongolia | 1.51 | ||
| Kawasan Industri Jababeka Tbk PT 8% | | Indonesia | 1.46 | ||
| UPL Corp Ltd. 5.25% | | India | 1.44 | ||
| Biocon Biologics Global PLC 6.67% | | India | 1.40 | ||
| IRB Infrastructure Developers Ltd. 7.11% | | India | 1.38 | ||
| FWD Group Holdings Ltd. 8.4% | | Hong Kong | 1.32 | ||
Increase  Decrease  New since last portfolio | |||||
| Category: Asia High Yield Bond | |||||
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| Biography | |
| Alfred Mui is the Head of Asian Credit in the Asian Fixed Income team within HSBC Asset Management in Hong Kong and has been working in the financial industry since 1996. Within the team, Alfred heads the Asian credit capabilities. Prior to re-joining HSBC in June 2010, Alfred worked as a director of credit trading at Myo Capital and a director at UBS Global Credit Strategies Group. Before first joining HSBC in 2000, Alfred worked as an investment advisor at Matheson InvestNet Ltd. and Jardine Fleming Holdings Ltd. and market risk management at Daiwa Securities (HK) Ltd and Chase Manhattan Bank. Alfred holds an MBA from the University of Ottawa and a Bachelor of Science with Distinction from the University of Toronto. Alfred is a CFA charterholder. |
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| Fund Manager | Ming Leap |
| Manager Start Date | 01/02/2021 |
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| Biography | |
| Ming Leap is an Associate Director in the Asian Fixed Income team and has been working in the industry since 2005. Before joining the team in 2011, Ming was a Quantitative Investment Manager at Sinopia Asset Management (HSBC’s former quantitative specialist) in Hong Kong, focusing on Global Bonds strategies. Prior to joining HSBC in 2007, Ming worked as an Assistant Dealer at AXA Investment Managers in Paris. He holds a Bachelor’s degree in Economics and Management and a Master’s degree in Global Market Finance from the University of Paris IX Dauphine. Ming also holds a "DEUG Mathematiques Appliquées aux Sciences Sociales", a two-year university degree in Mathematics applied to Social Sciences from Paris I, the Pantheon-Sorbonne University. |
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