Asian Capital Holdings Fund is a Société d'Investissement à Capital Variable – SICAV under Luxembourg law with multiple Sub-Funds incorporated in the form of a limited liability company in accordance with the provisions of the Law of 1915 and organised in accordance with the provisions of the Law of 2010. The Company was incorporated on 8 March 1993.
The capital of the Company is made up of Shares of distinct Sub-Funds. All Sub-Funds are managed according to the investment policies described in the prospectus. Certain specific features, which may vary from Sub-Fund to Sub-Fund, are described in the Appendices to this Prospectus.
The Company presently comprises the following Sub-Funds:
Asian Capital Holdings Fund – ACH
Asian Capital Holdings Fund – China
The Sub-Funds offer investors three classes of shares: class A shares denominated in U.S. Dollars, class B shares denominated in Euro and class C shares denominated in CHF.
The objective of the Asian Capital Holdings Fund – ACH Sub-Fund is to seek long term capital growth principally by investing in securities listed on stock exchanges or dealt in on regulated markets of countries throughout Asia, and more particularly in Japan, Hong Kong, China, India, Korea, Taiwan, Singapore, Malaysia, Thailand, Indonesia and the Philippines. The Fund may invest, to a lesser extent, in Australia, New Zealand and any other country in Asia if deemed appropriate to achieve this objective.
The Asian Capital Holdings Fund – China Sub-Fund has the same objective and investment policy as the Asian Capital Holdings Fund – ACH Sub-Fund except that it will principally (and up to 100%) have an exposure to China, Hong Kong and Taiwan.
In order to achieve these investment objectives, the Investment Manager is responsible for identifying and appointing different investment managers (the “Managers”) specialised in the investments in Asia or the relevant region, and allocating to each of the Managers a portion of the assets of one or several Sub-Funds.
Each of the Managers shall have discretionary authority to invest its portion of the assets of the Sub-Funds pursuant to its own investment approach, subject to the general and specific terms of the investment policies of the Sub-Funds, the investment restrictions set out hereafter and such other guidelines which may be determined from time to time by the Investment Manager. The Investment Manager may, at any time, give specific guidelines to the Managers or request certain Managers to proceed to the disinvestment of certain positions.
Some of the Managers may use traditional investment methods, others may use more advanced hedging techniques, some may be long term investors, others may readjust the Portfolio holdings more regularly.
The Sub-Funds may also hold liquid assets if market conditions so require. Such assets may be kept in current accounts, deposits or in short-term money market instruments regularly negotiated, having a remaining maturity of less than 12 months, and issued or guaranteed by first class issuers.
To the extent permitted by the investment restrictions, the Managers may, on behalf of the Sub-Funds, enter into financial futures contracts for the purpose of efficient portfolio management and for the purpose of hedging the risk of fluctuations in the value of portfolio securities.
The Managers may also use all possible means to hedge currency risks, such as entering into currency option transactions, currency futures contracts and forward foreign exchange transactions.
NAV Date: 16.05.13 ACH A: US$ 122.59 ACH B: € 87.85 ACH C: CHF 100.12 YTD Performance: ACH (USD): 13.68% ACH China A: US$ 130.67 ACH China B: € 107.00 ACH China C: CHF 89.05 Ytd Performance China (USD): 3.95%