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CSOP CSI 500 ETF (2021 Annual Report Summary)

Overview

• Type: Umbrella unit trust sub-fund under Hong Kong's Securities and Futures Ordinance.
• Launch Date: March 19, 2020.
• Listing: Traded on RMB (stock code 83005) and HKD (stock code 3005) in Hong Kong.
• Benchmark: CSI 500 Index, using physical and synthetic sampling.

Fund Performance (for year ended Dec 31, 2021)

• NAV per Unit: RMB 20.1144.
• Net Assets: RMB 55.530 million (vs start of year: RMB 90.085 million).
• Index Performance: CSI 500 Index increased by 17.07%.
• Fund Performance (RMB counter): 14.79% (difference due to fees and expenses).

Manager and Trustee

• Manager: CSOP Asset Management Limited.
• Trustee: HSBC Institutional Trust Services (Asia) Limited.

Financial Highlights

• Statement of Financial Position: Total assets RMB 56.798 million, liabilities RMB 1.268 thousand million, equity RMB 55.530 million.
• Statement of Comprehensive Income: Operating profit RMB 9.559 million, total comprehensive income RMB 9.510 million.
• Statement of Changes in Net Assets: Net decrease from unit transactions RMB 44.065 million.

Investment Portfolio (Unaudited)

• Primary Assets: Listed equities (51.25% of net asset value) and unlisted funded total return swaps (50.07%).
• Notable Holdings: Holdings include 499 out of 500 CSI 500 Index components, with a synthetic-linked swap to track the index.

Risk Management

• Market Risk: Primarily related to equity and index tracking.
• Credit Risk: Managed by dealing with high-rated counterparties (e.g., Societe Generale).

Regulatory and Operational Details

• Investment Limitations: Compliant with Hong Kong SFC Code for unit trusts.
• Audit and Preparation: Financial statements audited by PricewaterhouseCoopers, prepared under HKFRS.