Important Information about CICC KraneShares CSI China Internet Index ETF (“China Internet Index ETF” or the “Sub-Fund”). Terms used in this website, unless otherwise stated, shall have the same meanings as those defined in the prospectus of the Sub-Fund (the “Prospectus”).
Important Information

Investment involves risk including loss of principal, and investments in China Internet Index ETF may not be suitable for everyone. Investors should read the Prospectus and the Product Key Facts Statement carefully for details including the product features and risk factors, and should consider their own investment objectives and other circumstances before investing in China Internet Index ETF. The information provided herein is general in nature. If you are in any doubt about the contents of this website, you should consult your stockbroker, banker, solicitor, accountant or other financial adviser for independent professional advice before making any investment in China Internet Index ETF.

China Internet Index ETF, being a sub-fund of the umbrella unit trust constituted by the Trust Deed and called CICC KraneShares ETF Trust, is an index tracking collective investment scheme whose investment objective is to provide investment results that, before fees and expenses, closely correspond to the performance of CSI Overseas China Internet Index (the “Underlying Index”). There can be no assurance that China Internet Index ETF will achieve its investment objective.

You are also drawn to attention of the following points with respect to China Internet Index ETF:

Investors should carefully read the Prospectus and the Product Key Facts Statement for further details of all risk factors in particular those associated with investments in China Internet Index ETF before making any investment decision. The Prospectus and the Product Key Facts Statement of China Internet Index ETF may be obtained from the office of China International Capital Corporation Hong Kong Asset Management Limited which is located 29th Floor, One International Centre, 1 Harbour View Street, Central, Hong Kong and can also be downloaded from Website. In addition to above points, investors are also drawn to the attention of specific risk factors with respect to the China Internet Index ETF set out in the Prospectus and the Product Key Facts Statement.

China Internet Index ETF has been authorized by the Securities and Futures Commission (the “SFC”) as a collective investment scheme. SFC authorization is not a recommendation or endorsement of a product nor does it guarantee the commercial merits of a product or its performance. It does not mean the product is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. Hong Kong Exchanges and Clearing Limited (“HKEX”), The Stock Exchange of Hong Kong Limited (the “SEHK”), Hong Kong Securities Clearing Company Limited (“HKSCC”) and the SFC take no responsibility for the contents of the Website, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the Website.

Past performance information presented (if any) is not indicative of future performance.

All information displayed on this website is provided on an “as is” basis and China International Capital Corporation Hong Kong Asset Management Limited makes no representations and disclaims all warranties (whether express or implied) as to the accuracy or completeness of the information provided herein.

The contents of this website have not been reviewed by the SFC.

Manager: China International Capital Corporation Hong Kong Asset Management Limited

Risk Factors

Investors should not only base on this website alone to make investment decisions. Please read the Sub-Fund’s offering documents for details including the full text of the risk factors stated therein. 

General investment risk

The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Sub-Fund may suffer losses.  There is no guarantee of the repayment of principal.

Currency risk

Underlying investments of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund.  The NAV of the Sub-Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.

Equity market risk

The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.

Concentration / Chinese market risks

The Sub-Fund’s investments are concentrated in the internet and technology sector, in China based companies.  The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments.  Companies in the technology sector are often smaller, and are characterised by relatively higher volatility in price performance when compared to other economic sectors. Companies in the technology sector also face intense competition which may have an adverse effect on profit margins. Investment in such companies may therefore more volatile.

The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Chinese market.

Reliance on the Sub-Manager risk

The Manager has delegated the investment discretion of the Sub-Fund to the Sub-Manager and will rely on the Sub-Manager’s expertise and systems for the Sub-Fund’s investments. Any disruption in the communication with or assistance from the Sub-Manager or a loss of service of the Sub-Manager or any of its key personnel may adversely affect the operations of the Sub-Fund.

Distributions out of or effectively out of capital risks

Payment of dividends out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.  Any such distributions may result in an immediate reduction in the NAV per Unit of the Sub-Fund.

Other currency distributions risk

Investors should note that all Units will receive distributions in the base currency (USD) only. In the event that the relevant Unitholder has no USD account, the Unitholder may have to bear the fees and charges associated with the conversion of such distribution from USD to HKD or RMB. The Unitholder may also have to bear bank or financial institution fees and charges associated with the handling of the distribution payment. Unitholders are advised to check with their brokers regarding arrangements for distributions.

RMB currency and conversion risks

The Sub-Fund is denominated in USD but has Units traded in USD, HKD and RMB. RMB is currently not freely convertible and is subject to exchange controls and restrictions.

Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. Any divergence between CNH and CNY may adversely impact investors.

RMB or HKD based investors who buy and sell Units traded in RMB or HKD are therefore exposed to foreign exchange risk as a result of fluctuations in the RMB and HKD exchange rate against the USD.

Non-RMB based investors who buy and sell RMB traded Units will be exposed to foreign exchange rate fluctuations between the RMB and other currencies, in particular, the relevant investor’s base currency.  There is no guarantee that the value of RMB against the investors’ base currencies (for example HKD) will not depreciate.  Any depreciation of RMB could adversely affect the value of investor’s investment in the Sub-Fund.

Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.

Passive investments risk

The Sub-Fund is passively managed and the Manager will not have the discretion to adapt to market changes due to the inherent investment nature of the Sub-Fund.  Falls in the Index are expected to result in corresponding falls in the value of the Sub-Fund.

Tracking error risk

The Sub-Fund may be subject to tracking error risk, which is the risk that its performance may not track that of the Index exactly.  This tracking error may result from the investment strategy used and/or fees and expenses.  The Manager will monitor and seek to manage such risk and minimise tracking error.  There can be no assurance of exact or identical replication at any time of the performance of the Index.

Trading risks

The trading price of Units on the SEHK is driven by market factors such as the demand and supply of Units.  Therefore, the Units may trade at a substantial premium or discount to the Sub-Fund’s NAV and may deviate significantly from the NAV per Unit.

As investors will pay certain charges (e.g. trading fees and brokerage fees) to buy or sell Units on the SEHK, investors may pay more than the NAV per Unit when buying Units on the SEHK, and may receive less than the NAV per Unit when selling Units on the SEHK.

The limited availability of RMB outside China may also affect the liquidity and trading price of the RMB traded Units.  The units in the RMB counter are RMB denominated securities traded on the SEHK and settled in CCASS. Not all stockbrokers or custodians may be ready and able to carry out trading and settlement of the RMB traded units. The limited availability of RMB outside China may also affect the liquidity and trading price of the RMB traded units.

Trading differences risks

As the stock exchanges in which the Sub-Fund invests may be open when Units are not priced, the value of the securities in the Sub-Fund’s portfolio may change on days when investors will not be able to purchase or sell the Sub-Fund’s units.

Differences in trading hours between the stock exchanges in which the Sub-Fund invests and the SEHK may also increase the level of premium or discount of the unit price to its NAV.

Reliance on market maker and liquidity risks

Although the Manager will use its best endeavours to put in place arrangements so that at least one Market Maker will maintain a market for the Units in each counter, and that at least one Market Maker in each counter gives not less than 3 months’ notice prior to terminating market making arrangement under the relevant market maker agreement, liquidity in the market for Units may be adversely affected if there is no or only one Market Maker for the Units.  There is also no guarantee that any market making activity will be effective.

RMB traded Units are traded and settled in RMB. There may be less interest by potential market makers making a market in Units traded in RMB. Furthermore, any disruption to the availability of RMB may adversely affect the capability of market makers in providing liquidity for the Units.

Multi-counter risks

If there is a suspension of the inter-counter transfer of units between the counters and/or any limitation on the level of services by brokers and CCASS participants, unitholders will only be able to trade their units in one counter only, which may inhibit or delay an investor dealing. The market price of units traded in each counter may deviate significantly. As such, investors may pay more or receive less when buying or selling Units traded in one counter than the equivalent amount in the currency of another counter if the trade of the relevant Units took place on that other counter.

Termination risks

The Sub-Fund may be terminated early under certain circumstances, for example, where the Index is no longer available for benchmarking or if the size of the Sub-Fund falls below USD10 million. Investors may not be able to recover their investments and suffer a loss when the Sub-Fund is terminated.

CICC KraneShares CSI China Internet Index ETF
Investment Objective

The investment objective of CICC KraneShares CSI China Internet Index ETF (the “Sub-Fund”) is to provide investment results that, before fees and expenses, closely correspond to the performance of CSI Overseas China Internet Index (the “Underlying Index”). There can be no assurance that the Sub-Fund will achieve its investment objective.

NAV per Unit^

Date: 2022-12-02

HKD 43.0118
RMB 38.8743
USD 5.5284
Intra-day Estimated NAV

Estimated NAV calculations and delayed market data as shown on the Hong Kong Website (the “data”) provided by ICE Data Indices, see ICE Terms of Use, and is updated during SEHK trading hours. Powered by Factset. Estimated NAV is indicative and for reference purposes only. The Fund is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data”) and ICE Data or its respective third party suppliers make no express or implied warranties, and hereby expressly disclaim all warranties of merchantability or fitness for a particular purpose with respect to the iNAV, IOPV, fund or any fund data included therein. In no event shall ICE Data have any liability for any special, punitive, direct, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages. You acknowledge that the data is provided for information only and should not be relied upon for any purpose. HKEX Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Estimated NAV per Unit in HKD, RMB and USD are indicative and for reference only. This is updated every 15 seconds during SEHK trading hours and is calculated by ICE Data Indices, LLC. The near real time estimated NAV per Unit in HKD or RMB is calculated using the near real time estimated NAV per Unit in USD multiplied by a near real time USD:HKD or USD:RMB (CNH)  (as the case may be) foreign exchange rate quoted by ICE Data Indices, LLC.

^The last NAV per Unit in HKD and RMB are indicative and for reference only and is calculatedusing the official last NAV per Unit in USD multiplied by an assumed foreign exchange rate (i.e. not a real time exchange rate) being the fixing exchange rate provided by Reuters for HKD andoffshore RMB (CNH) at 4:00 p.m. (Hong Kong time) as of the same Dealing Day. Please refer to the Prospectus for further details.

Key Facts
Fund Listing Date 10 April 2018
Fund Financial Year End 31st December
Distribution Policy Annual Distribution (Subject to the Manager's discretion)
Management Fees Currently 0.72% per year of the Net Asset Value
Underlying Index CSI Overseas China Internet Index
Index Ticker CSIH1137 Index
Index Provider China Securities Index Co. Ltd
Type of Index Total Return Index
Base Currency USD
Shares Outstanding (As of 2022-12-02) 375,000.00
Net Asset Value (As of 2022-12-02) USD 2,073,154.58
Trading Information*
  HKD Counter RMB Counter USD Counter
Stock Code 3186 83186 9186
Exchange SEHK – Main Board
ISIN HK0000398377 HK0000398393 HK0000398385
SEDOL BFM72C9 BFM75M0 BFM72F2
Lot Size 50 50 50
Trading Currency HKD RMB USD
*The information applies to listed class only.
Participating Dealers

China International Capital Corporation Hong Kong Securities Co., Ltd., Haitong International Securities Co., Ltd., Merrill Lynch Far East Limited