2023-07-27-港交所-三星中国龙网_三星高息房托_年度报告_2022_57页_666kb

Samsung CSI China Dragon Internet ETF 和 Samsung S&P High Dividend APAC ex NZ REITs ETF 是 submit funds of Samsung ETFS Trust II, an umbrella unit trust established under Hong Kong law. These ETFs are passively managed and track specific indices: the CSI Global China Internet Index for the China Dragon ETF and the S&P High Yield Asia Pacific-Ex New Zealand REITs Select Index for the APAC REIT ETF. The funds commenced trading in 2018 and 2020 respectively, and are listed on The Stock Exchange of Hong Kong.

For the year ended 31 March 2023, the China Dragon ETF had a net asset value of HK$147,468,427 with a net asset value per unit of HK$11.1719. The APAC REIT ETF had a net asset value of US$16,568,814 with a net asset value per unit of US$2.1801. The funds experienced significant losses in 2023, with the China Dragon ETF reporting a net loss after tax of HK$64,638 and the APAC REIT ETF a loss after tax of US$3,653,848.

The management fee for both funds ranges from 0.65% to 0.68%, applicable to their net asset value. The funds are audited by an independent auditor, who issued an unqualified opinion, confirming the financial statements comply with International Financial Reporting Standards (IFRSs) and related regulations. Key risks include price risk, currency risk, and credit risk, with the funds primarily exposed to equity markets. The China Dragon ETF invests in Chinese and international internet-related stocks, while the APAC REIT ETF focuses on high-dividend REITs from countries like Singapore, Hong Kong, and Japan.

The investment portfolios are disclosed, with detailed holdings in the 2023 annual report, showing exposure to companies like Tencent Holdings Ltd and Alibaba Group Holding Ltd for the China Dragon ETF, and REITs such as Link REIT for the APAC REIT ETF. Performance-wise, both funds underperformed their benchmarks in 2023, with the China Dragon ETF returning 2.47% against its index's 0.88%, and the APAC REIT ETF returning -14.34% against its index's -13.76%. Regulatory compliance includes adherence to SFC guidelines, with no significant transactions or related-party dealings beyond standard management fees. Unit issuances and redemptions resulted in a net decrease in units for both funds in 2023 due to high redemption volumes. Overall, the funds represent passive investment options with foreign exposure, carrying inherent market risks.