The Fund aims to achieve capital appreciation over the long term by investing in a collective investment scheme, namely the
China Select Fund managed by Citigroup First Investment Management Limited.
Feeder Fund (Wholesale)
11 July 2011
This Fund is suitable for investors who seek capital appreciation through exposure to China’s economic growth, have high risk tolerance and have a long term investment horizon.
The Manager will invest a minimum of 95% to maximum of 99.8% of the Fund’s NAV in units of the Target Fund and a maximum 5% of the Fund’s NAV will be placed in deposits.
Minimum 95% to a maximum 99.8% of the Fund’s NAV will be invested in Collective Investment Scheme, namely China Select Fund, a Cayman Islands domiciled sub-fund of Citi Investment Trust (Cayman) II managed by Citigroup First Investment Management Limited. Maximum 5% of the Fund’s NAV will be in placement of deposit.
The Manager may take temporary defensive positions that maybe inconsistent with the Fund’s investment strategy in attempting to respond to adverse market conditions, economic, political or any other conditions in order to preserve the NAV of the Fund. By taking a temporary defensive position, the Fund will reduce itsinvestment into the Target Fund and hold more cash. These cash will be placed in deposits with licensed financial institutions. As
the Fund has reduced its exposure to the falling markets during the market downturn, it helps to preserve its capital and minimise losses by placing in the deposits. Should this happen, please note that the performance of the Fund may vary from the performance of the Target Fund. For instance, the value of the Target Fund may decrease adversely due to its exposure to the falling markets whereas the value of the Fund may be preserved by placing in the deposits. At the same time, if the temporary defensive position is unwarranted, and the market does not fall, the Target Fund will perform much better.
Minimum Initial Investment
Minimum Additional Investment
FEES & CHARGES
Sales Charge per Unit
Up to 5.50% of the NAV per Unit of the Fund
Annual Management Fee
1.80% per annum of the NAV of the Fund.
Trustee Fee / Custodian fee
0.08% per annum of the NAV of the Fund, subject to a minimum of RM18,000 per annum (excluding foreign sub-custodian fees and charges)
RM 5.00 per transfer
Maximum 1% of the NAV per Unit of the Fund will be levied on any switching of Units from other fund managed by the Manager into this Fund or switching out from this Fund to another fund managed by the Manager.
Performance Fee and Hurdle Value
Performance fee of the Target Fund, namely the China Select Fund is 10% of the appreciation in the net asset value per unit during the relevant performance period above the high watermark of the Target Fund.