3173 HK

Premia CSI Caixin China New Economy ETF

[*] Market prices are provided on a 15-minute delayed basis. IOPV calculations and delayed market data as shown on the Hong Kong Website (the “data”) provided by ICE Data Services, see ICE Limitations. Powered by Factset. ICE Data Services and HKEX Information Services Limited, and their respective holding companies and/or any subsidiaries of such holding companies, do not guarantee the accuracy or reliability of the data provided and accept no liability (whether in tort or contract or otherwise) for any loss or damage you may suffer or incur arising out of or in connection with your use of the data, including loss or damage which arises out of the data being inaccurate, incomplete or delayed, and however such loss or damage arises. You acknowledge that the data is provided for information only and should not be relied upon for any purpose.

Important Notice

IMPORTANT: Investment involves risk, including the loss of principal. Investors should refer to the Prospectus and Key Facts Statement of Premia CSI Caixin China New Economy ETF (the "ETF") for details, including the risk factors. Investors should not base investment decisions on this marketing material alone. Investors should note: The ETF aims to provide investment results that, before fees and expenses, closely correspond to the performance of CSI Caixin Rayliant New Economic Engine Index (“Index”). Fundamental multi-factor weighted index risks The Index is a new fundamental multi-factor weighted index whereby constituents are selected and weighted based on certain quantitative investment factors. There can be no assurance that the Index will outperform the market at any time and it is possible that the Index may underperform capitalisation weighted indices or other benchmarks in some market environments, potentially for extended periods. The Index methodology of focusing on certain factors may lead to unintended portfolio concentration in specific industry sectors. Stock Connect associated risk The ETF will invest primarily in A-Shares via the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect (collectively “Stock Connect”) and is subject to the Stock Connect associated risks, including quota limitations, and inability to invest in A Shares or access the PRC market if a suspension in the trading through the Stock Connect is effected. The relevant rules and regulations on Stock Connect are subject to change which may have potential retrospective effect. SME Board and ChiNext market risks The ETF may invest substantially in the ChiNext market and/or stocks listed on the Small and Medium Enterprise board (the “SME Board”) of the Shenzhen Stock Exchange. The ETF is therefore subject to higher fluctuation on stock prices, over-valuation risk, differences in regulations, delisting risks. Investments in the SME Board and / or ChiNext market may result in significant losses for the Fund and its investors. Risk associated with small-capitalisation/mid-capitalisation companies The stock of small-capitalisation/mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general. New economy companies risk The ETF will invest in companies in various new economy industries including information technology, environment protection and finance services. They are subject to higher market volatility and risks compared to companies in other industries. Given the emerging nature of the industries they operate in, the performance of such companies may be materially affected by worldwide scientific or technological developments or adverse events in their industries or development. RMB currency and conversion risks The base currency of the ETF is RMB and the distributions are made in RMB. RMB is currently not freely convertible and is subject to exchange controls and restrictions. Depreciation of RMB could adversely affect the value of investor’s investment. Non-RMB based investors are therefore exposed to foreign exchange risk. Concentration / PRC market risks The ETF is subject to PRC market risks. The A-share market in the PRC is highly volatile and may be subject to potential settlement difficulties. Such volatility may result in suspension of A-shares or imposition of other measures by the PRC authorities affecting the dealing/trading of units and adversely affecting the value of the ETF. Securities exchanges in the PRC have the right to suspend or limit trading in any security traded on the relevant exchange. The PRC government or the regulators may also implement policies that may affect the financial markets. These may have a negative impact on the ETF. Distributions out of or effectively out of capital risks The Manager may at its discretion pay dividends out of the capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gain attributable to that original investment. Any such distributions may result in an immediate reduction in the NAV of the ETF. Trading risks The Units of the ETF are traded on the SEHK. The trading price of the Units is subject to market forces and may trade at a substantial premium or discount to the ETF's NAV. Termination risks In the event the ETF is terminated, a Unitholder may not be able to recover their capital invested and may suffer loss.

Why 3173 HK?

1.     Capture China’s new economy: exposure to technology advancement, urbanization, rising middle class, consumer upgrade, education, aging population and healthcare
2.     Target quality and asset light growth stocks: multi-factor fundamental strategy in partnership with CSI Caixin Rayliant
3.     Cost efficient exposure: Capped ongoing expenses of 0.50% p.a.
4.     To learn more about this strategy, click here

Fund Objective and Investment Strategy

NAV and Intraday Estimated NAV

Key Facts

Fund Inception Date
Oct 20, 2017
Fund Listing Date
Oct 24, 2017
Fund Financial Year End
31st December
Distribution Policy
Annual Distribution
Management Fees
0.50% per annum
Underlying Index
CSI Caixin Rayliant New Economic Engine Index
Index Ticker
Index Provider
China Securities Index Co. Ltd
Type of Index
Total Return Index
Base Currency
SEHK – Main Board
Stock Code
3173 HK
Lot Size
Trading Currency
Shares Outstanding
(As of Jun 17, 2019)
Fund Size
(As of Jun 17, 2019)
474 million(RMB)

Participating Dealers

China Merchants Securities (HK) Co. Limited
Goldman Sachs (Asia) Securities Limited
Guotai Junan Securities (Hong Kong) Limited
Haitong International Securities Company Limited
Merrill Lynch Far East Limited
Commerzbank Aktiengesellschaft (Participating Agent : BNP Paribas Securities Services)
ABN AMRO Clearing Hong Kong Limited
Canfield Securities Company Limited
KGI Asia Limited
(9 total)

Market Makers

KGI Asia Limited
Flow Traders Hong Kong Limited
(2 total)


Performance Chart
Since Listing

Past performance information is not indicative of future performance. Investors may not get back the full amount invested.
The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested.
These figures show by how much the fund increased or decreased in value during the period shown.
Performance data has been calculated in RMB including ongoing charges and excluding trading costs on SEHK you might have to pay.
Where no past performance is shown there was insufficient data available in that year to provide performance.

Calendar Year
YTD 1-month 3-month 6-month Since Listing
Premia CSI Caixin China New Economy ETF
(as of Jun 17, 2019)
19.2% -3.5% -7.6% 14.2% -17.4%
CSI Caixin Rayliant New Economic Engine Index
(as of Jun 17, 2019)
20.4% -3.4% -6.7% 15.5% -16.6%

Past performance information is not indicative of future performance. Investors may not get back the full amount invested.
The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested.
These figures show by how much the fund increased or decreased in value during the period shown.
Performance data has been calculated in RMB including ongoing charges and excluding trading costs on SEHK you might have to pay.
Where no past performance is shown there was insufficient data available in that year to provide performance.

Tracking Difference and Tracking Error
Tracking Difference (TD)
Tracking difference is the return difference between an ETF and its underlying benchmark / index over a certain period of time
Tracking Error (TE)
Tracking error measures how consistently an ETF follows its benchmark / index. It is the volatility (measured by standard deviation) of that return difference.
Graph for Tracking Difference
Since Listing
Fund Listing Date
Oct 24, 2017
Rolling 1-Year TD
as of Dec 31, 2018
TD for calendar year 2018
Rolling 1-Year TE
as of Dec 31, 2018

The Sub-Fund's performance is calculated on an NAV to NAV basis and assumes reinvestment of distribution (where applicable).

Recent Distribution
Ex Date [1]
Dividend (RMB per unit)
(all distributions will be in RMB only)
Yield (%) [2]
Dividend paid out of net distribution income [3]
Dividend effectively paid out of capital [4]
Warning: Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the "Recent Distribution" table above. You should read the relevant offering document (including the key facts statement) of the Sub-Fund for further details including the risk factors.
Yield is calculated based on the dividend per unit divided by the ex-date NAV per unit. It is for reference only and does not represent the performance of the Sub-Fund. All dollar amounts are in HKD unless otherwise stated.
The net distributable income is the net investment income (i.e. include dividend income and interest income net of fees and expenses) based on unaudited management accounts.
The Sub-Fund pays dividend out of gross income while charging/paying all or part of the Sub-Fund’s fees and expenses to/out of the capital of the Sub-Fund, resulting in an increase in distributable income for the payment of dividends by the Sub-Fund and therefore, the Sub-Fund may effectively pay dividend out of capital.

Portfolio Holdings

As of Jun 17, 2019
Column Chooser
Number of Shares Held
Market Price (RMB)
Weight %
Gree Electric Appliances,Inc. of Zhuhai 1,150,400.00 50.74 12.32%
Jiangsu Hengrui Medicine Co Ltd 621,825.00 61.60 8.08%
Midea Group CO., LTD 525,400.00 50.79 5.63%
Focus Media Information Technology Co., Ltd. 2,374,168.00 5.41 2.71%
China International Travel Service Co Ltd 113,106.00 81.30 1.94%
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. 37,100.00 150.60 1.18%
Zhangzhou Pientzehuang Pharmaceutical Co Ltd 50,624.00 108.83 1.16%
Chang Chun High and New Technology Industry (Group) Inc. 17,541.00 302.10 1.12%
Zhejiang NHU Co Ltd 219,000.00 19.95 0.92%
Contemporary Amperex Technology Co., Limited. 60,717.00 71.96 0.92%
(250 total)

Holdings are subject to change.

Sector Exposure

As of Jun 17, 2019

This graph shows 98.1 % of the total weight.

As a percentage of NAV of the Sub-Fund, please note this data excludes underlying investments of any exchange traded funds that may be invested by the Sub-Fund.

Based on Global Industry Classification Standard (GICS)

The sum of all the allocation percentages shown in the table above may not be equal to 100% due to rounding or omissions of holdings of less than 1%.

Allocations are subject to change.

This website is owned and managed by Premia Partners Company Limited ("Premia Partners") . Premia Partners reserves the right to change, modify, add or delete any content and the terms & conditions of use of this website without notice. Users are advised to periodically review the contents of this website to be familiar with any modifications.
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.The performance figures contained on this website are for information purposes only. Past performance is not indicative of future performance.Persons interested in investing in the Funds should read the relevant fund offering documents (including the full text of the risk factors stated therein) in details before making any investment decision.
This website is prepared by Premia Partners and has not been reviewed by the Securities and Futures Commission.
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