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Bank of China Steady Growth


 

Description

Items Contents
Code 830002
Name Bank of China Steady Growth (R)
Product Establishment Date April 12, 2007
Issuing Object Domestic institutions and individual residents
Manager Bank of China
Domestic Custodian Industrial and Commercial Bank of China
Overseas Escrow Agent American Brown Brothers Harriman
Issue Share (100 million) 7.94
The Latest Total Share (100 million) ---
Product Management Fee 0.60%/year
Product Purchase Rate Amount of purchase (M)
M<1 million
1 million ≤ M<10 million
10 million ≤ M<50 million
50 million ≤ M<100 million
M ≥ 100 million
Rate
1.2%
0.9%
0.6%
0.3%
0
Product Redemption Rate Term of redemption (N)
N<1 year
1 year≤ N<2 years
N ≥ 2 years
Rate
0.5%
0.2%
0
Product Custody Rate 0.20%/year
Scope of Investment The product converts the collected RMB funds to USD, and then invests it in open-end equity fund, USD fixed income, monetary market products in Hong Kong.
Investment Objective Through reasonable asset allocation, on the basis of obtaining stable cash earnings, strive for the opportunity of capital appreciation and get consistent returns exceeding performance benchmark.
Performance Benchmark USD: 25% Hang Sheng share index + 25% Morgan Stanley China share index + 50% Lehman Brothers USD aggregate bond index (1 to 10 years, above level A). RMB performance benchmark is formed by adjustment to the above mentioned USD performance benchmark according to the short-term spread level of USD and RMB.

Position Details 

Name:  Bank of China Steady Growth (R)         Deadline: February 28, 2011

Type Market Cap (RMB) Proportion
Equity Fund  201,458,706 58.80%
Bond 1  124,209,139 36.25%
Cash and Others  16,938,942 4.95%
Minimum Rating of Investment Bond AA+/Aa2
Top 10 Positions
Number Name Type Rating Market Cap (RMB) Proportion
1 Credit Agricole
Greater China Fund
Greater China Equity Fund    106,144,823 30.98%
2 Fidelity China
Focus Fund
China Equity Fund    95,313,883 27.82%
3 US T 2 3/4 02/15/19 Government Bond AAA/Aaa  51,568,533 15.05%
4 IBRD 5 4/1/16 Public sector bond   AAA/Aaa  37,618,538 10.98%
5 US TRE 3.75 11/15/18 Government Bond AAA/Aaa  35,022,068 10.22%

Note 1:  There is no bond involving in American subprime home mortgage loan in bond investment.

 

Top 10 Positions of Credit Agricole Greater China Fund
(Until January 31, 2011)
Top 10 Positions of Fidelity China Focus Fund
(Until January 31, 2011)

Number

Name Proportion  % Name Proportion  %

1

China National Offshore Oil 5.12 Tencent 7.2

2

Sun Hung Kai Properties   4.35 China Mobile 6.1

3

Industrial and Commercial Bank of China 3.91 Industrial and Commercial Bank of China 5.7

4

China Construction Bank 3.79 China National Offshore Oil 5.6

5

Yurun Food 3.41 China Construction Bank 5.4

6

Hutchison Whampoa   3.26 Ping An Insurance of China 4.6

7

Hong Kong Exchanges   3.08 China Life 4.4

8

GCL-Poly Energy 3.07 Belle International 3.7

9

Shineway Pharm 3.05 China Mengniu 3.1

10

China Unicom 3.04 China Coal 2.4

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