China has become the world’s second largest economy and a leading player in world trade; its currency is making progress toward internationalization and may be on its way to achieving leading world currency status.

As the Chinese government has been relaxing currency restrictions and renminbi yuan bonds have begun trading in Hong Kong, Guinness Atkinson gives you the opportunity to participate in China’s growth in a distinctive way.

If you agree with many economists who believe that China’s currency would appreciate against the US dollar if it were allowed to trade freely, you may wish to invest in our Renminbi Yuan & Bond Fund. A stronger yuan would be consistent with China’s need to reduce inflation internally and the United State’s need to battle deflation.

Learn more in our whitepaper, A Revolutionary Idea: Renminbi in Every Wallet.

Renminbi Yuan & Bond Fund through 06/30/2014
Avg. Annualized
Total Return
Calendar YTD 1 Year 3 Years 5 Years 10 Years Since
Inception
Monthly through
06/30/2014
-1.07% 3.24% 2.71% n/a n/a 2.71%
Quarterly through
06/30/2014
-1.07% 3.24% 2.71% n/a n/a 2.71%
30 Day SEC Yield   (as of 6/30/14) Subsidized 2.36% I Unsubsidized 2.29%
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Funds may be lower or higher than the performance quoted. Total returns reflect a fee waiver in effect and in the absence of this waiver, the total returns would be lower. Performance data does not reflect the 2% redemption fee for shares held less than 30 days and if deducted the fee would reduce the performance quoted.

Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

FUND HOLDINGS (as of 06/30/2014)
1.Cash (Renminbi) 8.18%
2.Air Liquide Finance 5.83%
3.New World China Land 5.06%
4.BP Capital Markets 4.80%
5.China Guangdong 3.65%
6.Renault S.A. 3.50%
7.ICICI Bank Ltd. 3.36%
8.BOC Aviation Pte. 3.35%
9.HSBC Bank PLC 3.33%
10.Global Logistic Ppty 3.06%
BOND CLASSIFICATION (as of 06/30/2014)
Foreign Corporate 27.54%
China Corporate 20.78%
Foreign Financial 20.47%
China Financial 15.94%
CNH Cash 8.18%
Government 5.32%
USD Cash 1.77%
MATURITY BREAKDOWN (as of 06/30/2014)
CNH Cash 8.18%
Less than 1 year 21.69%
1 to 2 years 33.31%
2 to 3 years 21.90%
3 to 4 years 7.40%
4 to 5 years 5.03%
Edmund Harriss
Investment Director
Fund Manager

“It may sound like a cliché to refer to the “Asian Miracle” but I believe that the economic growth that has occurred in Asia throughout the last 30 years represents the greatest increase in the human condition for more people than any other event in human history.“

Having managed the Asia Funds for over 14 years both from London and from Hong Kong, Edmund Harriss is dedicated to understanding the agents of change. It’s about making ourselves ready for the new world that is unfolding in front of our eyes. For Edmund there is nothing quite like…

Read more of Edmund Harriss's background >

“It may sound like a cliché to refer to the “Asian Miracle” but I believe that the economic growth that has occurred in Asia throughout the last 30 years represents the greatest increase in the human condition for more people than any other event in human history.“
Edmund Harriss Investment Director, Fund Manager

Having managed the Asia Funds for over 14 years both from London and from Hong Kong, Edmund Harriss is dedicated to understanding the agents of change. It’s about making ourselves ready for the new world that is unfolding in front of our eyes. For Edmund there is nothing quite like studying companies and making the right investment call. He welcomes the sense of responsibility to all the people invested in his funds. He embraces that trust that has been placed in him, relishes the challenge, and enjoys nothing more than to deliver on those hopes.

In the process of translating grand transformational themes into a stock portfolio, Edmund seeks to understand businesses and to forecast a range of outcomes before making a final investment decision.

Trend not to be overlooked: Demographic change. The populations of the developed world are getting older while the developing economies are now the source of new workers. This trend presages a major shift in the balance of economic power in the world.

Edmund's Funds:
Asia Focus Fund >
Asia Pacific Dividend Fund >
China & Hong Kong Fund >
Quick Stats

Joined Guinness Atkinson Asset Management in 2003 and also serves as investment director and board member.

Edmund graduated from Christ Church, University of Oxford, with a Masters degree in Management Studies and has a Bachelors degree in History from the University of York.

He is also an Associate of the Society of Investment Professionals.

Tim Guinness
Chief Investment Officer
Fund Manager

“Progress is exciting— it’s an opportunity to meet new and complex challenges. And every Guinness Atkinson Fund presents an opportunity to invest in progress.“

As a Founder and the Chief Investment Officer of Guinness Atkinson Funds, Tim Guinness is a logic-based value investor with nearly 40 years of experience. He believes in hard work and discipline, subjecting stocks to a gauntlet of due diligence. His investment strategy, a draw not only for investors but…

Read more of Tim Guinness's background >

“Progress is exciting— it’s an opportunity to meet new and complex challenges. And every Guinness Atkinson Fund presents an opportunity to invest in progress.“
Tim Guinness Chief Investment Officer, Fund Manager

As a Founder and the Chief Investment Officer of Guinness Atkinson Funds, Tim Guinness is a logic-based value investor with nearly 40 years of experience. He believes in hard work and discipline, subjecting stocks to a gauntlet of due diligence. His investment strategy, a draw not only for investors but also for those joining his team, involves a combination of crunching the numbers into a fine powder, constantly reviewing sectors and sub-sectors for profitability and growth potential, and staying sharply focused on the themes of global transformation and profound change.

Tim’s investment strategy also involves riding his bicycle to work in the morning – demonstrating a passion for life that equals his love for numbers. In fact, he founded the company on the basic principal that investment opportunities could be enhanced by focusing on specific global themes that are changing our lives today and will continue to do so long into the future. Tim and co-founder Jim Atkinson have an ongoing contest to see who can generate the most enthusiasm. Soon they will have to take out warehouse space to store it all.

Trend not to be overlooked: Energy demand growth in the developing world, which will likely be met by both traditional sources, like oil and gas, and renewable sources, like wind and solar.

Tim's Funds:
Global Energy Fund >
Global Innovators Fund >
Renminbi Yuan & Bond Fund >
Quick Stats

Tim Guinness has served as Guinness Atkinson’s Chairman and Chief Investment Officer since the firm’s founding in November 2002.

From 1999 to November 2002, he was Joint Chairman of Guinness Flight Global Asset Management, Ltd., and was the CEO from 1997 to 1999. While at Guinness Flight (which ultimately merged with Investec in 1998), Tim was a founding portfolio manager of the Global Equity Fund, which was established in 1985.

Tim graduated from Cambridge University with a degree in engineering. He then completed a Master’s Degree in Management Science at the Sloan School M.I.T. in the United States.

The Advisor has contractually agreed to reimburse expenses (excluding Acquired Fund Fees and Expenses, interest, taxes, dividends on short positions and extraordinary expenses) in order to limit the Fund’s Total Annual Operating Expenses to 0.90% through June 30, 2015.  To the extent that the Advisor absorbs expenses to satisfy this cap, it may seek repayment of a portion or all of such amounts at any time within three fiscal years after the fiscal year in which such amounts were absorbed, subject to the 0.90% expense cap.