Schroder Asian Asset
Income Fund
Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð
(A Sub-Fund of Schroder Umbrella Fund II)
( Ê©ÂÞµÂÉ¡ÐÍ»ù½ð II µÄ×Ó»ù½ð )
Unaudited Semi-Annual Report 2019
¶þÁãÒ»¾ÅÄê¶Èδ¾ÉóºËÖ®ÖÐÆÚ±¨¸æÊé
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Manager
Schroder Investment Management
(Hong Kong) Limited
Level 33
Two Pacific Place
88 Queensway
Hong Kong
Telephone: 2521 1633
Hotline: 2869 6968
Fax: 2530 9095
Home Page: http://www.schroders.com.hk
Trustee and Registrar
HSBC Institutional Trust Services (Asia) Limited
1 Queen¡¯s Road Central
Hong Kong
Registrar¡¯s Service Provider
HSBC France, Luxembourg Branch
16 Boulevard d¡¯Avranches
L-1160, Luxembourg
Auditors
PricewaterhouseCoopers
Certified Public Accountants
22/F Prince¡¯s Building
Central
Hong Kong
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HSBC France, Luxembourg Branch
16 Boulevard d¡¯Avranches
L-1160, Luxembourg
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Schroder Asian Asset
Income Fund
(A Sub-Fund of Schroder Umbrella Fund II)
Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð
£¨Ê©ÂÞµÂÉ¡ÐÍ»ù½ðIIµÄ×Ó»ù½ð£©
Schroder Asian Asset Income Fund
Solicitors
Deacons
5/F Alexandra House
18 Chater Road
Central
Hong Kong
Further information
Schroders is a Foreign Account Tax Compliance
Act (¡°FATCA¡±) compliant organisation. Please
find the FATCA classification of this entity and
its Global Intermediary Identification Number
(¡°GIIN¡±) below.
FATCA entity classification: Nonreporting IGA
FFI / Registered Sponsored Investment Entity
Sponsored entity GIIN: IV2GGD.00030.SF.344
Sponsoring entity: Schroder Investment
Management (Hong Kong) Limited
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Schroder Asian Asset
Income Fund
(A Sub-Fund of Schroder Umbrella Fund II)
Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð
£¨Ê©ÂÞµÂÉ¡ÐÍ»ù½ðIIµÄ×Ó»ù½ð£©
Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð 1
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
Market Review
In Q3 2019, Asia ex Japan equities lost value as
the US-China trade dispute rumbled on and
global growth concerns weighed on market
sentiment. China underperformed following
the announcement of new US trade tariffs
while Hong Kong equities also fell amid
ongoing demonstrations. By contrast, Taiwan
posted a positive return, underpinned by
strong performance from technology stocks.
Turning to fixed income, government bond
yields declined markedly over the quarter due
to heightened risk aversion in August when
US-China trade tensions escalated. The US
10-year Treasury yield was more than 30 bps
lower. Within the currency space, the US dollar
appreciated against most Asian currencies,
although the Thai Baht was notably stronger.
Going into the last quarter, the geopolitical
risks that harried markets for much of 2019
faded thanks to the announcement of a ¡°phase
one¡± trade deal between the US and China,
helping equity markets to post gains. Within
Asia, China, South Korea and Taiwan all
outperformed thanks to the proposed trade
deal. In particular, the technology sector
boosted returns as earnings were revised
upwards following solid Q3 sales. By contrast,
Thailand recorded a negative return as Q3 GDP
growth remained subdued. Elsewhere,
government bond yields were largely higher.
The US 10-year yield rose 26 bps over the
quarter, as The Federal Reserve cut rates once
in the quarter before indicating that ¡°the
current stance of monetary policy is
appropriate¡±. Asian currencies were broadly
stronger, with the Korean Won recording over
+3% against the US dollar.
Êг¡¹Û²ì
¶þÁãÒ»¾ÅÄêµÚÈý¼¾£¬ÖÐÃÀóÒ×ÕùÒé³ÖÐøÈÅÈÁ£¬»·
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±íÏÖÑ·É«£¬¸Û¹ÉÔÚʾÍþ»î¶¯²»¾øÐÎÊÆÏÂÒ౨µø¡£
Ïà·´£¬Ì¨ÍåÔòƾ½è¿Æ¼¼¹É±íÏÖÇ¿¾¢Ö§³Ö¶ø¼µÃ½ø
ÕË¡£¹Ì¶¨ÊÕÒæ·½Ã棬°ËÔ·ÝÖÐÃÀóÒ×½ôÕžÖÊÆÉý
¼¶µ¼Ö±ÜÏÕÒâÓû¼Ó¾ç£¬¼¾ÄÚÕþ¸®Õ®È¯æÜÏ¢ÂÊÏÔÖø
ϵø¡£ÃÀ¹úÊ®ÄêÆÚ¹ú¿âȯæÜÏ¢ÂÊϵøÓâ30»ùµã¡£
»ãÊе±ÖУ¬ÃÀÔª¶Ò´ó²¿·ÖÑÇÖÞ»õ±Ò¾ù¼ûÉÏÑµ«
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³É¡¸µÚÒ»½×¶Î¡¹Ã³Ò×ÐÒ飬À§ÈŶþÁãÒ»¾ÅÄê´ó²¿·Ö
ʱ¼äµÄµØÔµÕþÖηçÏÕËì¼ûµ»¯£¬ÓÐÖú¹ÉÊмµÃ½ø
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ÏÖÍ»³ö¡£¿Æ¼¼¹É»Ø±¨ÓÈÆä»ñÌáÉý£¬ÔÒòÊǵÚÈý¼¾
ÏúÊÛÎȽ¡£¬´ø¶¯Ó¯Àû»ñÉϵ÷¡£Ïà·´£¬Ì©¹úÈ´ÒòΪ
µÚÈý¼¾±¾µØÉú²ú×ÜÖµ(GDP)Ôö³¤¼ÌÐøµÍÃÔ¶ø¼µÃ
¸º»Ø±¨¡£ÖÁÓÚÆäËûÊг¡£¬Õþ¸®Õ®È¯æÜÏ¢ÂÊ´óÖÂÏò
ÉÏ¡£¼¾ÄÚÁª°î´¢±¸¾Ö¼õÏ¢ºó±íʾ¡¸Ä¿Ç°»õ±ÒÕþ²ß
Á¢³¡Ç¡µ±¡¹£¬Íƶ¯ÃÀ¹úÊ®ÄêÆÚ¹ú¿âȯæÜÏ¢ÂÊÉý26
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2 Schroder Asian Asset Income Fund
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
Outlook
Overall risk sentiment has improved vastly
following the announcement of a ¡°phase one¡±
trade deal between the US and China, which
should alleviate some concerns on muted
global growth and economy activity. In fact,
we have seen some stabilisation in recent
economic indicators and we believe
momentum is likely to improve going forward.
Moreover, central banks have maintained their
accommodative stance and should largely stay
put through 1H 2020. Therefore, our base case
scenario remains largely unchanged. We
maintain the view that the current environment
with ample liquidity should remain supportive
of risky assets in the medium term, especially
with previous headwinds fading.
Overall, we remain comfortable with our equity
allocation, especially given the defensive
nature of the holdings. That said, a lot of good
news has been priced into the current
valuation, and thus the buffer to downside
lower should volatility come back. For Asian
equities, the improved backdrop has seen an
upward re-rating of the cyclical / growth
oriented sectors, in particular for exporters
which have been hampered by trade tensions,
while defensive and high dividend names have
been under profit-taking pressure. This trend
could continue in the near-term given the
improved outlook on growth, and we might
take advantage of short-term corrections
triggered by volatility to introduce more
cyclical exposures in the portfolio.
Õ¹Íû
ÖÐÃÀÐû²¼´ï³É¡¸µÚÒ»½×¶Î¡¹Ã³Ò×ÐÒéºó£¬ÕûÌåðÏÕ
ÒâÓûÒÑ´óΪ¸ÄÉÆ£¬Ó¦¿É磻º²¿·ÖÓйػ·ÇòÔö³¤ºÍ
¾¼Ã»î¶¯µÍÃÔµÄÒþÓÇ¡£ÊÂʵÉÏ£¬½üÆÚ¶àÏî¾¼ÃÖ¸
±êÒÑÂÔ¼û»ØÎÈ£¬ÏàÐŴ˺óµÄ¶¯Á¦ÓÐÍûºÃת¡£ÔÙ
Õߣ¬¶à¹úÑëÐж¼Î¬³Ö¿íËÉÁ¢³¡£¬¶þÁã¶þÁãÄêÉÏ°ë
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µÄÀûµÒòËØÕýÔÚ¼õÍË¡£
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±ðÊdzֹɾ߱¸·ÀÊر¾ÖÊ¡£ËäÈ»Èç´Ë£¬²»ÉÙºÃÏûÏ¢
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ÄÜÁ¦¾Í»á¼õÈõ¡£¶ÔÓÚÑÇÖÞ¹ÉÊУ¬ÐÎÊÆÓÐËù¸ÄÉÆ£¬
ÖÜÆÚ¨uÔö³¤µ¼Ïò°å¿éÆÀ¼¶Éϵ÷£¬ÔøÒòóÒ×¹Øϵ½ô
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Àû»ØÍÂѹÁ¦¡£Ôö³¤Ç°¾°ºÃת£¬Õâ¹ÉÇ÷ÊƶÌÆÚÄÚ¿É
ÍûÑÓÐø£¬ÎÒÃÇ»ò»á°ÑÎÕ²¨¶¯´¥·¢µÄ¶ÌÏßµ÷Õû»ú
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Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð 3
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
Outlook (Continued)
Moving onto fixed income, we believe 2020 will
be a more challenging year for credit investors
as the tailwind of monetary easing is likely to
wane. At the same time, in some areas such as
China, default risks are likely to rise. As such,
we are likely to keep a relatively cautious
stance in managing the portfolio and ensuring
quality and income stability in the portfolio
holdings.
All in all, we continue to stress the importance
of selectivity while maintaining our preference
towards name with high quality and better
value.
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»¯£¬ÎÒÃÇÈÏΪÐÅ´ûͶ×ÊÕß»áÔÚ¶þÁã¶þÁãÄêÃæ¶Ô½Ï
´óÌôÕ½¡£Óë´Ëͬʱ£¬ÖйúµÈ²¿·ÖµØÇøµÄÎ¥Ô¼·çÏÕ
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ά³ÖÏà¶ÔÉóÉ÷µÄÁ¢³¡£¬²¢È·±£×éºÏËù³ÖͶ×ʵÄÖÊ
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4 Schroder Asian Asset Income Fund
½ØÖÁ¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕ£¬»ù½ð×ÜÖµ
34,564,262,210¸ÛÔª£¬·¢ÐзݶîÈçÏ£º
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
As at 31st December 2019, the Fund size was
HK$34,564,262,210, represented by units as
below:
31st December
2019
¶þÁãÒ»¾ÅÄê
Ê®¶þÔÂÈýʮһÈÕ
Units
·Ý¶î
30th June
2019
¶þÁãÒ»¾ÅÄê
ÁùÔÂÈýÊ®ÈÕ
Units
·Ý¶î
Class A Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î 1,790,909.91 1,884,213.91
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î 91,016,879.36 87,847,766.97
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î 9,758,829.68 9,180,049.16
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î 150,028,272.41 135,592,271.78
AUD Hedged Distribution Units °ÄÔª¶Ô³åÊÕÏ¢·Ý¶î 63,021,282.02 65,160,930.69
RMB Hedged Distribution Units ÈËÃñ±Ò¶Ô³åÊÕÏ¢·Ý¶î 40,124,584.50 38,100,351.91
GBP Hedged Accumulation UnitsÓ¢°÷¶Ô³åÀÛ»ý·Ý¶î 50,833.61 36,989.07
GBP Hedged Distribution Units Ó¢°÷¶Ô³åÊÕÏ¢·Ý¶î 615,678.70 397,142.20
Class C Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î 241,583.24 246,761.64
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î 568,634.25 536,009.31
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î 9,152,978.17 5,761,594.25
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î 739,344.32 213,478.27
AUD Hedged Distribution Units °ÄÔª¶Ô³åÊÕÏ¢·Ý¶î 142,413.90 37,372.98
Class I Àà±ð
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î 1,325,019.30 1,586,829.98
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î 2,784,640.15 5,235,321.34
Class M Àà±ð
RMB Hedged Accumulation Units ÈËÃñ±Ò¶Ô³åÀÛ»ý·Ý¶î 12,297,555.27 12,196,315.81
Class X Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î 67.62 67.62
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î 66.04 64.42
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î 68.14 68.14
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î 18,552.41 82.56
Ê©ÂÞµÂÑÇÖÞ¸ßÏ¢¹ÉÕ®»ù½ð 5
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
The prices of units were: »ù½ð·Ý¶î¼Û¸ñÈçÏ£º
NET ASSET VALUE PER UNIT ÿ·Ý¶î¾»×ʲú
31st December
2019
¶þÁãÒ»¾ÅÄê
Ê®¶þÔÂÈýʮһÈÕ
30th June
2019
¶þÁãÒ»¾ÅÄê
ÁùÔÂÈýÊ®ÈÕ
Class A Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î HK$ ¸ÛÔª 161.7028 HK$ ¸ÛÔª 161.2388
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î HK$ ¸ÛÔª 104.4400 HK$ ¸ÛÔª 106.6920
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î US$ ÃÀÔª 16.1607 US$ ÃÀÔª 16.0715
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î US$ ÃÀÔª 10.4380 US$ ÃÀÔª 10.6345
AUD Hedged Distribution Units °ÄÔª¶Ô³åÊÕÏ¢·Ý¶î AU$ °ÄÔª 9.7077 AU$ °ÄÔª 9.8985
RMB Hedged Distribution Units ÈËÃñ±Ò¶Ô³åÊÕÏ¢·Ý¶î RMB ÈËÃñ±Ò 98.4050 RMBÈËÃñ±Ò100.4438
GBP Hedged Accumulation Units Ó¢°÷¶Ô³åÀÛ»ý·Ý¶î GBP Ó¢°÷ 11.1997 GBP Ó¢°÷ 11.2240
GBP Hedged Distribution Units Ó¢°÷¶Ô³åÊÕÏ¢·Ý¶î GBP Ó¢°÷ 10.0205 GBP Ó¢°÷ 10.2186
Class C Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î HK$ ¸ÛÔª 171.9288 HK$ ¸ÛÔª 170.8102
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î HK$ ¸ÛÔª 111.0831 HK$ ¸ÛÔª 113.0638
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î US$ ÃÀÔª 15.3669 US$ ÃÀÔª 15.2260
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î US$ ÃÀÔª 10.6981 US$ ÃÀÔª 10.8585
AUD Hedged Distribution Units °ÄÔª¶Ô³åÊÕÏ¢·Ý¶î AU$ °ÄÔª 9.9521 AU$ °ÄÔª 10.1137
Class I Àà±ð
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î US$ ÃÀÔª 15.8781 US$ ÃÀÔª 15.6751
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î US$ ÃÀÔª 12.9461 US$ ÃÀÔª 13.0954
Class M Àà±ð
RMB Hedged Accumulation Units ÈËÃñ±Ò¶Ô³åÀÛ»ý·Ý¶î RMBÈËÃñ±Ò129.6357 RMBÈËÃñ±Ò128.7037
Class X Àà±ð
HKD Accumulation Units ¸ÛÔªÀÛ»ý·Ý¶î HK$ ¸ÛÔª 161.3378 HK$ ¸ÛÔª 160.9676
HKD Distribution Units ¸ÛÔªÊÕÏ¢·Ý¶î HK$ ¸ÛÔª 156.8036 HK$ ¸ÛÔª 160.2763
USD Accumulation Units ÃÀÔªÀÛ»ý·Ý¶î US$ ÃÀÔª 16.1103 US$ ÃÀÔª 16.0350
USD Distribution Units ÃÀÔªÊÕÏ¢·Ý¶î US$ ÃÀÔª 15.6715 US$ ÃÀÔª 15.9684
6 Schroder Asian Asset Income Fund
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
DISTRIBUTION
HKD Class A
¸ÛÔªAÀà±ð·Ý¶î
Record date
¼Í¼ÈÕ
Payment date
ÅÉÏ¢ÈÕ
No. of units
entitled
distributions
ÓÐȨÊÕÈ¡ÅÉÏ¢
Ö®·Ý¶î
Distribution
per unit
ÿ·Ý¶î
ÅÉÏ¢¶î
HK$
¸ÛÔª
Total
distribution
amount
×ÜÅÉÏ¢¶î
HK$
¸ÛÔª
For the period ended 31st December 2019
¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕÖ¹ÆÚ¼ä
24th July 2019¶þÁãÒ»¾ÅÄêÆßÔ¶þÊ®ËÄÈÕ 6th August 2019¶þÁãÒ»¾ÅÄê°ËÔÂÁùÈÕ 88,898,313.08 0.445092 39,567,927.97
28th August 2019¶þÁãÒ»¾ÅÄê°ËÔ¶þÊ®°ËÈÕ 9th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¾ÅÈÕ 88,776,452.97 0.435413 38,654,421.72
25th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¶þÊ®ÎåÈÕ 8th October 2019¶þÁãÒ»¾ÅÄêʮ԰ËÈÕ 87,717,817.54 0.438663 38,478,561.00
30th October 2019¶þÁãÒ»¾ÅÄêÊ®ÔÂÈýÊ®ÈÕ 12th November 2019¶þÁãÒ»¾ÅÄêʮһÔÂÊ®¶þÈÕ 88,414,877.13 0.441385 39,025,000.54
27th November 2019¶þÁãÒ»¾ÅÄêʮһÔ¶þÊ®ÆßÈÕ 10th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®ÈÕ 89,830,814.72 0.392868 35,291,652.52
18th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®°ËÈÕ 2nd January 2020¶þÁã¶þÁãÄêÒ»Ô¶þÈÕ 90,786,463.32 0.389063 35,321,653.78
For the year ended 30th June 2019
¶þÁãÒ»¾ÅÄêÁùÔÂÈýÊ®ÈÕÖ¹Äê¶È
25th July 2018¶þÁãÒ»°ËÄêÆßÔ¶þÊ®ÎåÈÕ 7th August 2018¶þÁãÒ»°ËÄê°ËÔÂÆßÈÕ 108,095,703.08 0.433125 46,818,951.40
29th August 2018¶þÁãÒ»°ËÄê°ËÔ¶þÊ®¾ÅÈÕ 10th September 2018¶þÁãÒ»°ËÄê¾ÅÔÂÊ®ÈÕ 103,420,073.04 0.433837 44,867,454.23
26th September 2018¶þÁãÒ»°ËÄê¾ÅÔ¶þÊ®ÁùÈÕ 10th October 2018¶þÁãÒ»°ËÄêÊ®ÔÂÊ®ÈÕ 97,672,838.64 0.425274 41,537,718.78
24th October 2018¶þÁãÒ»°ËÄêʮԶþÊ®ËÄÈÕ 5th November 2018¶þÁãÒ»°ËÄêʮһÔÂÎåÈÕ 91,873,442.52 0.412189 37,869,222.40
28th November 2018¶þÁãÒ»°ËÄêʮһÔ¶þÊ®°ËÈÕ 10th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®ÈÕ 88,228,208.03 0.415433 36,652,909.15
19th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®¾ÅÈÕ 3rd January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÈÕ 87,672,095.54 0.413699 36,269,858.25
30th January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÊ®ÈÕ 12th February 2019¶þÁãÒ»¾ÅÄê¶þÔÂÊ®¶þÈÕ 90,563,616.05 0.450361 40,786,320.69
27th February 2019¶þÁãÒ»¾ÅÄê¶þÔ¶þÊ®ÆßÈÕ 11th March 2019¶þÁãÒ»¾ÅÄêÈýÔÂʮһÈÕ 92,592,338.75 0.456148 42,235,810.14
27th March 2019¶þÁãÒ»¾ÅÄêÈýÔ¶þÊ®ÆßÈÕ 8th April 2019¶þÁãÒ»¾ÅÄêËÄÔ°ËÈÕ 93,407,779.79 0.459775 42,946,561.95
24th April 2019¶þÁãÒ»¾ÅÄêËÄÔ¶þÊ®ËÄÈÕ 8th May 2019¶þÁãÒ»¾ÅÄêÎåÔ°ËÈÕ 92,531,018.49 0.459486 42,516,707.56
29th May 2019¶þÁãÒ»¾ÅÄêÎåÔ¶þÊ®¾ÅÈÕ 11th June 2019¶þÁãÒ»¾ÅÄêÁùÔÂʮһÈÕ 89,758,987.98 0.455067 40,846,353.38
28th June 2019¶þÁãÒ»¾ÅÄêÁùÔ¶þÊ®°ËÈÕ 10th July 2019¶þÁãÒ»¾ÅÄêÆßÔÂÊ®ÈÕ 87,847,766.97 0.446458 39,220,338.35
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DISTRIBUTION (Continued)
HKD Class C
¸ÛÔªCÀà±ð·Ý¶î
Record date
¼Í¼ÈÕ
Payment date
ÅÉÏ¢ÈÕ
No. of units
entitled
distributions
ÓÐȨÊÕÈ¡ÅÉÏ¢
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per unit
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amount
×ÜÅÉÏ¢¶î
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¸ÛÔª
For the period ended 31st December 2019
¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕÖ¹ÆÚ¼ä
24th July 2019¶þÁãÒ»¾ÅÄêÆßÔ¶þÊ®ËÄÈÕ 6th August 2019¶þÁãÒ»¾ÅÄê°ËÔÂÁùÈÕ 547,865.43 0.471898 258,536.60
28th August 2019¶þÁãÒ»¾ÅÄê°ËÔ¶þÊ®°ËÈÕ 9th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¾ÅÈÕ 554,432.73 0.461958 256,124.64
25th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¶þÊ®ÎåÈÕ 8th October 2019¶þÁãÒ»¾ÅÄêʮ԰ËÈÕ 564,280.14 0.465666 262,766.08
30th October 2019¶þÁãÒ»¾ÅÄêÊ®ÔÂÈýÊ®ÈÕ 12th November 2019¶þÁãÒ»¾ÅÄêʮһÔÂÊ®¶þÈÕ 566,980.10 0.468881 265,846.20
27th November 2019¶þÁãÒ»¾ÅÄêʮһÔ¶þÊ®ÆßÈÕ 10th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®ÈÕ 567,444.17 0.417573 236,949.36
18th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®°ËÈÕ 2nd January 2020¶þÁã¶þÁãÄêÒ»Ô¶þÈÕ 568,634.25 0.413701 235,244.56
For the year ended 30th June 2019
¶þÁãÒ»¾ÅÄêÁùÔÂÈýÊ®ÈÕÖ¹Äê¶È
25th July 2018¶þÁãÒ»°ËÄêÆßÔ¶þÊ®ÎåÈÕ 7th August 2018¶þÁãÒ»°ËÄê°ËÔÂÆßÈÕ 479,574.74 0.455903 218,639.56
29th August 2018¶þÁãÒ»°ËÄê°ËÔ¶þÊ®¾ÅÈÕ 10th September 2018¶þÁãÒ»°ËÄê¾ÅÔÂÊ®ÈÕ 480,505.06 0.456970 219,576.40
26th September 2018¶þÁãÒ»°ËÄê¾ÅÔ¶þÊ®ÁùÈÕ 10th October 2018¶þÁãÒ»°ËÄêÊ®ÔÂÊ®ÈÕ 483,289.38 0.448200 216,610.30
24th October 2018¶þÁãÒ»°ËÄêʮԶþÊ®ËÄÈÕ 5th November 2018¶þÁãÒ»°ËÄêʮһÔÂÎåÈÕ 483,300.30 0.434651 210,066.96
28th November 2018¶þÁãÒ»°ËÄêʮһÔ¶þÊ®°ËÈÕ 10th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®ÈÕ 483,311.10 0.438377 211,872.47
19th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®¾ÅÈÕ 3rd January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÈÕ 483,321.97 0.436729 211,080.72
30th January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÊ®ÈÕ 12th February 2019¶þÁãÒ»¾ÅÄê¶þÔÂÊ®¶þÈÕ 483,332.91 0.475828 229,983.33
27th February 2019¶þÁãÒ»¾ÅÄê¶þÔ¶þÊ®ÆßÈÕ 11th March 2019¶þÁãÒ»¾ÅÄêÈýÔÂʮһÈÕ 483,616.50 0.482210 233,204.71
27th March 2019¶þÁãÒ»¾ÅÄêÈýÔ¶þÊ®ÆßÈÕ 8th April 2019¶þÁãÒ»¾ÅÄêËÄÔ°ËÈÕ 531,795.74 0.486315 258,620.25
24th April 2019¶þÁãÒ»¾ÅÄêËÄÔ¶þÊ®ËÄÈÕ 8th May 2019¶þÁãÒ»¾ÅÄêÎåÔ°ËÈÕ 532,705.39 0.486280 259,043.98
29th May 2019¶þÁãÒ»¾ÅÄêÎåÔ¶þÊ®¾ÅÈÕ 11th June 2019¶þÁãÒ»¾ÅÄêÁùÔÂʮһÈÕ 527,076.35 0.481938 254,018.12
28th June 2019¶þÁãÒ»¾ÅÄêÁùÔ¶þÊ®°ËÈÕ 10th July 2019¶þÁãÒ»¾ÅÄêÆßÔÂÊ®ÈÕ 536,009.31 0.473102 253,587.08
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8 Schroder Asian Asset Income Fund
DISTRIBUTION (Continued)
HKD Class X
¸ÛÔªXÀà±ð·Ý¶î
Record date
¼Í¼ÈÕ
Payment date
ÅÉÏ¢ÈÕ
No. of units
entitled
distributions
ÓÐȨÊÕÈ¡ÅÉÏ¢
Ö®·Ý¶î
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per unit
ÿ·Ý¶î
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amount
×ÜÅÉÏ¢¶î
HK$
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For the period ended 31st December 2019
¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕÖ¹ÆÚ¼ä
24th July 2019¶þÁãÒ»¾ÅÄêÆßÔ¶þÊ®ËÄÈÕ 6th August 2019¶þÁãÒ»¾ÅÄê°ËÔÂÁùÈÕ 64.69 0.668447 43.24
28th August 2019¶þÁãÒ»¾ÅÄê°ËÔ¶þÊ®°ËÈÕ 9th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¾ÅÈÕ 64.97 0.653680 42.47
25th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¶þÊ®ÎåÈÕ 8th October 2019¶þÁãÒ»¾ÅÄêʮ԰ËÈÕ 65.24 0.658585 42.97
30th October 2019¶þÁãÒ»¾ÅÄêÊ®ÔÂÈýÊ®ÈÕ 12th November 2019¶þÁãÒ»¾ÅÄêʮһÔÂÊ®¶þÈÕ 65.51 0.662687 43.41
27th November 2019¶þÁãÒ»¾ÅÄêʮһÔ¶þÊ®ÆßÈÕ 10th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®ÈÕ 65.79 0.589838 38.81
18th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®°ËÈÕ 2nd January 2020¶þÁã¶þÁãÄêÒ»Ô¶þÈÕ 66.04 0.584123 38.58
For the year ended 30th June 2019
¶þÁãÒ»¾ÅÄêÁùÔÂÈýÊ®ÈÕÖ¹Äê¶È
28th June 2019¶þÁãÒ»¾ÅÄêÁùÔ¶þÊ®°ËÈÕ 10th July 2019¶þÁãÒ»¾ÅÄêÆßÔÂÊ®ÈÕ 64.42 0.670705 43.21
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Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
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Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
DISTRIBUTION (Continued)
USD Class A
ÃÀÔªAÀà±ð·Ý¶î
Record date
¼Í¼ÈÕ
Payment date
ÅÉÏ¢ÈÕ
No. of units
entitled
distributions
ÓÐȨÊÕÈ¡ÅÉÏ¢
Ö®·Ý¶î
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per unit
ÿ·Ý¶î
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amount
×ÜÅÉÏ¢¶î
US$
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For the period ended 31st December 2019
¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕÖ¹ÆÚ¼ä
24th July 2019¶þÁãÒ»¾ÅÄêÆßÔ¶þÊ®ËÄÈÕ 6th August 2019¶þÁãÒ»¾ÅÄê°ËÔÂÁùÈÕ 137,863,971.73 0.044352 6,114,542.87
28th August 2019¶þÁãÒ»¾ÅÄê°ËÔ¶þÊ®°ËÈÕ 9th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¾ÅÈÕ 138,651,348.62 0.043216 5,991,956.68
25th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¶þÊ®ÎåÈÕ 8th October 2019¶þÁãÒ»¾ÅÄêʮ԰ËÈÕ 139,387,296.50 0.043587 6,075,474.09
30th October 2019¶þÁãÒ»¾ÅÄêÊ®ÔÂÈýÊ®ÈÕ 12th November 2019¶þÁãÒ»¾ÅÄêʮһÔÂÊ®¶þÈÕ 142,158,110.64 0.043838 6,231,927.25
27th November 2019¶þÁãÒ»¾ÅÄêʮһÔ¶þÊ®ÆßÈÕ 10th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®ÈÕ 147,084,127.29 0.039078 5,747,753.53
18th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®°ËÈÕ 2nd January 2020¶þÁã¶þÁãÄêÒ»Ô¶þÈÕ 149,839,577.39 0.038910 5,830,257.96
For the year ended 30th June 2019
¶þÁãÒ»¾ÅÄêÁùÔÂÈýÊ®ÈÕÖ¹Äê¶È
25th July 2018¶þÁãÒ»°ËÄêÆßÔ¶þÊ®ÎåÈÕ 7th August 2018¶þÁãÒ»°ËÄê°ËÔÂÆßÈÕ 176,973,640.44 0.042989 7,607,919.83
29th August 2018¶þÁãÒ»°ËÄê°ËÔ¶þÊ®¾ÅÈÕ 10th September 2018¶þÁãÒ»°ËÄê¾ÅÔÂÊ®ÈÕ 165,507,704.88 0.043041 7,123,617.13
26th September 2018¶þÁãÒ»°ËÄê¾ÅÔ¶þÊ®ÁùÈÕ 10th October 2018¶þÁãÒ»°ËÄêÊ®ÔÂÊ®ÈÕ 155,749,094.10 0.042396 6,603,138.59
24th October 2018¶þÁãÒ»°ËÄêʮԶþÊ®ËÄÈÕ 5th November 2018¶þÁãÒ»°ËÄêʮһÔÂÎåÈÕ 147,075,321.98 0.040933 6,020,234.15
28th November 2018¶þÁãÒ»°ËÄêʮһÔ¶þÊ®°ËÈÕ 10th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®ÈÕ 141,656,812.04 0.041339 5,855,950.95
19th December 2018¶þÁãÒ»°ËÄêÊ®¶þÔÂÊ®¾ÅÈÕ 3rd January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÈÕ 140,547,343.21 0.041162 5,785,209.74
30th January 2019¶þÁãÒ»¾ÅÄêÒ»ÔÂÈýÊ®ÈÕ 12th February 2019¶þÁãÒ»¾ÅÄê¶þÔÂÊ®¶þÈÕ 142,873,031.91 0.044709 6,387,710.38
27th February 2019¶þÁãÒ»¾ÅÄê¶þÔ¶þÊ®ÆßÈÕ 11th March 2019¶þÁãÒ»¾ÅÄêÈýÔÂʮһÈÕ 141,980,488.76 0.045253 6,425,043.06
27th March 2019¶þÁãÒ»¾ÅÄêÈýÔ¶þÊ®ÆßÈÕ 8th April 2019¶þÁãÒ»¾ÅÄêËÄÔ°ËÈÕ 142,329,637.68 0.045615 6,492,366.42
24th April 2019¶þÁãÒ»¾ÅÄêËÄÔ¶þÊ®ËÄÈÕ 8th May 2019¶þÁãÒ»¾ÅÄêÎåÔ°ËÈÕ 141,818,084.30 0.045629 6,471,017.37
29th May 2019¶þÁãÒ»¾ÅÄêÎåÔ¶þÊ®¾ÅÈÕ 11th June 2019¶þÁãÒ»¾ÅÄêÁùÔÂʮһÈÕ 138,589,574.33 0.045145 6,256,626.33
28th June 2019¶þÁãÒ»¾ÅÄêÁùÔ¶þÊ®°ËÈÕ 10th July 2019¶þÁãÒ»¾ÅÄêÆßÔÂÊ®ÈÕ 135,592,271.78 0.044501 6,033,991.69
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10 Schroder Asian Asset Income Fund
Manager¡¯s Report »ù½ð¹ÜÀíÈ˱¨¸æ
DISTRIBUTION (Continued)
USD Class C
ÃÀÔªCÀà±ð·Ý¶î
Record date
¼Í¼ÈÕ
Payment date
ÅÉÏ¢ÈÕ
No. of units
entitled
distributions
ÓÐȨÊÕÈ¡ÅÉÏ¢
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per unit
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amount
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For the period ended 31st December 2019
¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÈýʮһÈÕÖ¹ÆÚ¼ä
24th July 2019¶þÁãÒ»¾ÅÄêÆßÔ¶þÊ®ËÄÈÕ 6th August 2019¶þÁãÒ»¾ÅÄê°ËÔÂÁùÈÕ 249,535.26 0.045307 11,305.69
28th August 2019¶þÁãÒ»¾ÅÄê°ËÔ¶þÊ®°ËÈÕ 9th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¾ÅÈÕ 311,188.95 0.044179 13,748.02
25th September 2019¶þÁãÒ»¾ÅÄê¾ÅÔ¶þÊ®ÎåÈÕ 8th October 2019¶þÁãÒ»¾ÅÄêʮ԰ËÈÕ 333,131.30 0.044585 14,852.66
30th October 2019¶þÁãÒ»¾ÅÄêÊ®ÔÂÈýÊ®ÈÕ 12th November 2019¶þÁãÒ»¾ÅÄêʮһÔÂÊ®¶þÈÕ 500,289.96 0.044873 22,449.51
27th November 2019¶þÁãÒ»¾ÅÄêʮһÔ¶þÊ®ÆßÈÕ 10th December 2019¶þÁãÒ»¾ÅÄêÊ®¶þÔÂÊ®ÈÕ 715,668.94 0.040025 28,644.65
18th December 2019¶þÁãÒ»¾