Morningstar Fund Report  | 11/04/2025Print

HSBC Global Investment Funds - Asia High Yield Bond ZQ1

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
HSBC Global Investment Funds - Asia High Yield Bond ZQ1
Fund-13.3-10.4-10.513.2-1.5
+/-Cat0.6-1.9-1.72.10.8
+/-B’mrk-3.1-6.0-9.3-4.0-1.4
 
Category: Asia High Yield Bond
Category Benchmark: JPM ACI Non Investment Grad...
Key Stats
NAV
10/04/2025		 USD 4.96
Day Change -0.15%
Morningstar Category™ Asia High Yield Bond
ISIN LU2093604622
Fund Size (Mil)
10/04/2025		 USD 557.02
Share Class Size (Mil)
10/04/2025		 USD 46.98
Max Initial Charge -
Ongoing Charge
23/12/2024		  0.11%
Investment Objective: HSBC Global Investment Funds - Asia High Yield Bond ZQ1
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
Trailing Returns (GBP)10/04/2025
YTD-6.31
3 Years Annualised-3.10
5 Years Annualised-4.15
10 Years Annualised-
12 Month Yield 10.08
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Alfred Mui
27/11/2019
Ming Leap
01/02/2021
Inception Date
03/02/2020

Category Benchmark
Fund BenchmarkMorningstar Benchmark
JPM ACI Corp Non-Investment Grade TR USDJPM ACI Non Investment Grade TR USD
Portfolio Profile for  HSBC Global Investment Funds - Asia High Yield Bond ZQ131/01/2025
Fixed Income
Effective Maturity3.32
Effective Duration2.70
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond97.1616.8680.29
Property0.000.000.00
Cash168.51155.6412.88
Other10.353.526.83
Growth Of 1000 (GBP) 31/03/2025
Fund:  HSBC Global Investment Funds - Asia High Yield Bond ZQ1
Category:  Asia High Yield Bond
Category Index:  JPM ACI Non Investment Grade TR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 202120222023202431/03
Price Return-13.27-10.37-10.4713.21-1.48
+/- Category0.59-1.86-1.732.070.78
+/- Category Index-3.05-5.97-9.32-4.04-1.41
% Rank in Category4565785577
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.15   1.020.13
1 Week-2.53   0.78-1.02
1 Month-5.58   -1.44-1.20
3 Months-8.25   -2.30-1.69
6 Months-3.43   -3.30-3.27
YTD-6.31   -2.09-2.19
1 Year-0.02   -3.78-3.53
3 Years Annualised-3.10   -4.08-7.17
5 Years Annualised-4.15   -1.95-4.57
10 Years Annualised-   --
 
Category: Asia High Yield Bond
Category Index: JPM ACI Non Investment Grade TR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-1.48---
20245.723.29-1.575.32
2023-1.98-7.35-3.151.80
2022-8.98-4.741.062.29
2021-0.86-0.11-3.06-9.66
2020-14.03-2.10-0.13
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAverage3 star
5-YearAverageAverage3 star
10-Year--Not Rated
OverallAverageAverage3 star
 
Category :  Asia High Yield BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev12.93 %
3-Yr Mean Return0.26 %
 
3-Yr Sharpe Ratio-0.29
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 JPM ACI Non Investment Grade TR USD  JPM ACI Non Investment Grade TR USD
3-Yr Beta0.950.95
3-Yr Alpha-6.54-6.54
 
Fixed Income Style31/01/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 595
Maturity Distribution %
1 to 329.92
3 to 525.71
5 to 78.32
7 to 105.31
10 to 152.40
15 to 200.62
20 to 300.96
Over 3019.52
Effective Maturity3.32
Effective Duration2.70
Credit Quality Breakdown %     %
AAA0.00   BB53.92
AA0.32   B21.01
A1.46   Below B5.29
BBB4.17   Not Rated13.82
 
Category: Asia High Yield Bond
Asset Allocation31/01/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond97.1616.8680.29
Property0.000.000.00
Cash168.51155.6412.88
Other10.353.526.83
Top 10 Holdings31/01/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings168
Assets in Top 10 Holdings15.77
NameSectorCountry% of Assets
Vedanta Resources Finance II PLC 10.875%India2.10
San Miguel Global Power Holdings Corp... Philippines1.83
GLP China Holdings Ltd. 2.95%China1.81
Standard Chartered PLC 7.625%United Kingdom1.51
Golomt Bank JSC 11%Mongolia1.51
Kawasan Industri Jababeka Tbk PT 8%Indonesia1.46
UPL Corp Ltd. 5.25%India1.44
Biocon Biologics Global PLC 6.67%India1.40
IRB Infrastructure Developers Ltd. 7.11%India1.38
FWD Group Holdings Ltd. 8.4%Hong Kong1.32
 
Increase Decrease New since last portfolio
Category: Asia High Yield Bond
 
Management
Name of CompanyHSBC Investment Funds (Luxembourg) S.A.
Phone(+352) 40 46 46 767
Websitehttp://www.assetmanagement.hsbc.com
AddressC/O HSBC Securities Services (Luxembourg) S.A.
 Luxembourg   L-1160
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date03/02/2020
Fund Advisor(s)
HSBC Global Asset Management (HK) Ltd
Fund ManagerAlfred Mui
Manager Start Date27/11/2019
Career Start Year1996
Education
University of Ottawa, M.B.A.
University of Toronto, B.S.
 
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.
Fund ManagerMing Leap
Manager Start Date01/02/2021
 
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.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Chargen/a
Ongoing Charge0.11%
Purchase Details
Minimum Investments
Initial1000000  USD
Additional-
Savings-
Tax Free Savings Schemes
ISAsNo