Renminbi Yuan & Bond Fund
China is the world's second largest economy and a leading player in world trade. The renminbi yuan is moving onto the world stage just as a renminbi yuan bond market is developing in Hong Kong. The Guinness Atkinson Renminbi Yuan & Bond Fund invests directly in renminbi yuan denominated bonds and cash instruments.
At Guinness Atkinson we believe:
- China's currency should continue to appreciate against the US dollar due to the relative strength of China's economy.
- As China's economy transforms from an export to a consumer oriented economy, a stronger yuan should help check Chinese inflation.
- China's global economic presence and massive levels of global trade should afford it a greater role in the international finance system.
The Renminbi Yuan & Bond Fund launched on June 30, 2011 at an initial net asset value of $12.50. The current price of the Fund can be found on our home page. Most recent performance is identified below.
Standardized Fund Performance
All performance data shows average annualized returns, except for periods of one year or less, which are actual returns.
Inception Date 6/30/2011
|Avg Annualized Total Return||YTD||1 Year||3 Years||5 Years||10 Years||Since Inception|
|Monthly as of
|Quarterly as of
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.
Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.
Expense Ratio Information
The following gross expense and, if applicable, net expense (after expense reimbursement) ratios are shown as stated in the most recent prospectus (6/30/2011).
Total Expense Ratio Capped at 0.90%
All of the Guinness Atkinson Funds have an expense cap in place and the advisor is contractually obligated to cap the total expenses at least through June 30, 2013.
Top 10 Holdings As of 10/31/2012
|Issue||Maturity Date||Coupon (%)||Currency||Percent of Net Assets|
|Bank of China Ltd./Hong Kong||5/6/2013||3.03%||CNH||12.53%|
|Air Liquide Finance||9/19/2016||3.00%||CNH||10.62%|
|BP Capital Markets||9/15/2014||1.70%||CNH||5.06%|
|HSBC Bank PLC||4/30/2015||2.88%||CNH||3.59%|
|CNPC Golden Autumn||10/26/2013||2.55%||CNH||3.56%|
|Global Logistic Ppty||5/11/2016||3.38%||CNH||3.25%|
|Certificates of Deposit CNH||26.82%|
|Government Issues (China)||1.27%|
|CNH Cash :||29.47%|
|US$ Cash :||4.63%|
|Less than 1 year :||33.06%|
|1 to 2 years :||5.84%|
|2 to 3 years :||7.37%|
|4 to 5 years :||15.42%|
|30 Day SEC Yield :||.61%|
Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
To Invest through a brokerage firm:
The Guinness Atkinson Funds are available through over 500 major brokerage firms, including those listed below. Note, clicking on any of the brokerage links will cause you to leave the Guinness Atkinson web site.
The inclusion of these links is not an endorsement of any of these firms and does not represent a recommendation or solicitation to purchase or sell securities. Additionally, the inclusion of these links does not represent an endorsement by Guinness Atkinson of any of these firms. Guinness Atkinson is not responsible for the content of any third party website.
To Invest Direct with Guinness Atkinson Funds:
We've made direct investing simple. The investment kit is available below in pdf. You can also obtain a hard copy of the investment kit by calling 800 915-6565 or completing a brief online form.
Note: Only US Persons are eligible to invest in the Guinness Atkinson Funds.
Persons living abroad, please visit the Guinness Asset Management website for more information. By clicking here, you will be leaving the Guinness Atkinson Funds website and entering the Guinness Asset Management website.