Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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HK0000943230

Ping An RMB Bond Fund (Dist.)(HK0000943230)

Fixed income
Investment grade
Global
CNY Cash
Distributing

Invest with

CNY Cash

Payout type

Distributing

Risk rating

About this fund

Description

The Fund seeks to provide total return comprised of interest income and capital growth by investing principally in RMB denominated fixed or floating rate debt securities.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Diversified portfolio of RMB bonds issued by not only onshore and offshore Chinese corporates and government-related agencies, but also global issuers from Asia-Australisia, Europe, and the US, across various industries. Average IG-rated portfolio with a duration of around 2-3 years.

People

Team-based approach with China fixed income portfolio managers contributing research analysis, and supported by 2 dedicated RMB bond analysts. Dong Chen, who is the named Lead Portfolio Manager, is responsible for final investment decisions. He has over 15 years of experience investing into China fixed income. The entire team process is overseen by Ping An’s Head of Fixed Income. Tap into Ping An’s generalist credit research team comprising of 11 investment professionals.

Performance

Good risk-adjusted return since inception in 2011. Favourable drawdown control and relatively stable performance compared to peers. Low correlation between peers and market (China and global equities and bonds).

Process

Bottom-up fundamental research on credit issuers, combined with top-down views to determine asset allocation across credit quality, duration, and issuers (geography & industry).

Cost

Retail share class with 100% trailer fees rebated back to Endowus investors to achieve the lowest cost of access

How it fits in a portfolio

The fund offers exposure into RMB bonds that the team believes has favourable return prospects and diversification benefits, without necessarily exposing too much into the Chinese “market” and via investing in global issuers. Relatively stable and less volatile returns to complement your fixed income portfolio. As this fund focuses on RMB-denominated bonds, investors are still reminded of the need for diversification when considering an investment in this fund. Additionally, the USD and HKD share classes are NOT currency hedged, which means they are exposed to the impact of RMB movement. Investors should be comfortable with absorbing RMB currency impacts, both favourable and unfavourable, when investing in the fund.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

5.15%

YTD

0.36%

1 month

0.13%

6 month

0.15%

1 year

2.20%

As of Apr 2026

Distributions

3.63%

Frequency

Monthly

Risk metrics

Max drawdown

-0.92%As of Apr 2026

Volatility

1.43%As of Apr 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	-0.0%	0.4%	-0.2%	0.1%	-	-	-	-	-	-	-	-
2025	2.3%	0.6%	0.2%	-0.9%	0.6%	0.2%	1.0%	1.0%	-0.5%	0.1%	0.2%	-0.2%	-0.0%
2024	2.0%	0.4%	0.3%	0.2%	0.1%	0.4%	0.7%	0.3%	0.2%	-0.1%	-0.6%	0.1%	0.1%
2023	-	-	-	-	-	-	-	0.0%	-0.1%	-0.3%	-0.2%	0.6%	0.4%

Top Exposures

Holdings

Regions

Sectors

Temasek Financial (I) Limited 3.1% (2054-08-28 Maturity)	7.67%
Development Bank Of Kazakhstan Jsc 6.5%	7.20%
Indonesia Government Intl Bond 2.9% S/A (2035-10-31 Maturity)	7.16%
Swire Properties MTN Financing Ltd. 3.45% (2035-07-22 Maturity)	6.90%
Chubb INA Holdings LLC 2.75% (2035-08-06 Maturity)	6.84%
Huafa 2024 I Co Ltd 6% S/A Perp	6.51%
Export-Import Bank of Korea 3.16% (2034-06-03 Maturity)	6.30%
Emirates NBD Bank PJSC 3.1% (2035-07-18 Maturity)	6.08%
MashreqBank PSC 3.6% (2029-09-25 Maturity)	3.73%
Nestle Finance International Limited 2.8% (2035-05-29 Maturity)	3.60%
BNP Paribas SA 3.6% (2031-08-17 Maturity)	3.59%
Snb Funding Ltd 3.1% A (2035-06-23 Maturity)	3.59%
Bank of East Asia Ltd. (The) 2.95% (2029-09-09 Maturity)	3.58%
Zhongsheng Group Holdings Ltd. 3.5% (2027-08-01 Maturity)	3.57%
Kazmunavgas National Co 2.95% S/A (2030-10-30 Maturity)	3.54%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.29%0.79% p.a.

Save 38%

Fund facts

ISIN

HK0000943230

Fund house

Ping An of China Asset Management (HK)

Fund inception date

21 Jul 2023

Fund class currency

CNY

Fund share class

Class A RMB

Oldest share class ISIN

HK0000079084

Oldest share inception date

28 Apr 2011

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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