Important Risk Warning:
  • Investors should not only base on content below alone to make investment decisions. Investors should refer to fund's offering documents and read carefully the summary of the key features and risks specific to this fund stated in the fund factsheet prepared by the relevant fund house, before making any investment decision.
  • Unit Trusts are investment products and some may involve derivatives. The investment decision is yours but you should not invest in the Unit Trusts unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.
  • Unit Trusts are NOT equivalent to time deposits.
  • Investment involves risks. Past performance is no guide to future performance of the funds. Value of the investments and the income/dividend generated can fluctuate and is not guaranteed.
  • In the worst case scenario, the value of the unit trusts may be worth substantially less than the original amount you have invested (and in an extreme case could be worth nothing).
  • The funds invest in debt securities and are subject to interest rate, credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks.
  • If the funds invest in non-investment grade debt securities, distressed debt securities, defaulted debt securities, emerging market debt securities, mortgage and asset-backed securities, debt securities in a limited number of geographical market(s) or sector(s), the funds will be subject to a higher degree of risk.
  • If the funds invest in derivatives, additional risks will be involved, which may be different from those associated with investing in bonds, and the funds may be subject to higher volatility.
Selecting Products with Risk Level relative to your tolerance to investment risk
You may consider funds with risk level commensurate with your investment
risk tolerance, according to the table below:
Risk tolerance Funds with risk level commensurate
Very Cautious Risk level: 1
Cautious Risk level: 1 - 2
Balanced Risk level: 2 - 3
Adventurous Risk level: 3 – 4
Speculative Risk level: 4 – 5
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HSBC Fund Code: U61010
HSBC Risk Level: 3
Offering Document: 
Investment Objective
The primary investment objective of the Portfolio is to seek to provide a high level of current income consistent with preservation of capital. The Portfolio seeks to meet its investment objective by investing in a diversified portfolio of fixed-income securities. As a secondary objective, the Portfolio will seek to increase its capital through appreciation of its investments in order to preserve and, if possible, increase the purchasing power of each Shareholder's investment.
Investment Strategy
HSBC investment category:
US Fixed Income
Investment type:
Fixed Income
Investment style:
Interest rate sensitivity:
Investment instrument:
Stock, Bond, Cash, Other
Investment style is only applicable for funds that invest in equities. Interest rate sensitivity is only applicable for funds that invest in fixed income product.
Fund Portfolio
(as of 31-05-2024)
Asset allocation
Total number of equity holdings: 9
Total number of bond holdings : 1,345
Bond holdings sector allocation
Top 5 bond holdings country exposure
Country exposure %
United States 82.10
United Kingdom 2.59
Cayman Islands 1.88
Canada 0.99
Mexico 0.94
Top 10 holdings
Holding % of net asset
US 2 Year Note (CBT) Sept14 20.91
5 Year Treasury Note Future Sept 24 10.85
US 10 Year Note (CBT) Sept14 5.57
United States Treasury Bonds 6.25% 3.31
US Treasury Bond Future Sept 24 2.91
United States Treasury Notes 4.125% 2.64
IRS #520935 REC FIXED 4.8170 4.817% 12/04/2026 Receive 2.00
IRS #520934 REC FIXED 4.3060 4.306% 12/04/2029 Receive 1.91
United States Treasury Notes 4.5% 1.83
United States Treasury Notes 4.625% 1.81
% of asset in Top 10 holdings 53.75
Fund Performance
(as of 30-06-2024)
Index: Morningstar US Core Bd TR USD
Fund indexed performance (initial value =100%). Performance statistics are based on bid to bid/ NAV to NAV prices of the fund with dividend reinvested, in USD
  • 2019
  • 2020
  • 2021
  • 2022
  • 2023
  • YTD
  • 12.24
  • 4.62
  • -0.29
  • -13.14
  • 8.32
  • 0.15
  • 8.65
  • 7.50
  • -1.61
  • -12.99
  • 5.31
  • -0.59
Fund Price Information
(as of 19-07-2024)
Fund price movement is calculated on bid to bid/ NAV to NAV basis in fund class currency (USD ).
Indicative fund price:
  • NAV:
USD 6.47000
  • Bid:
  • Offer:
Change vs previous trading day:
52 week low-high:
USD 6.08000 - USD 6.60000
Fund price information is provided based on the latest fund trading date.
Dividend Information
(as of 30-06-2024)
Target distribution frequency:
Dividend yield:
Last dividend paid (per unit):
USD 0.03300
Last ex-dividend date:
Dividend yield is the dividend amount declared over the past twelve months as a percentage of the last month-end fund unit price, show in 2 decimal places. The amount of dividend may not be guaranteed by Fund House.
Yield And Credit Information
(as of 31-03-2024)
Average current yield:
Average yield to maturity:
Average duration:
5.47 years
Average credit quality:
Credit quality breakdown:
% %
AAA 43.91 BB 20.91
AA 0.60 B 7.45
A 6.76 Below B 0.69
BBB 19.57 Not Rated 0.11
Current yield refers to the annual interest of the bonds divided by the market price of a bond. Yield to maturity is the rate of return anticipated on a bond if it is held until the maturity date, assumed that all coupons are reinvested at the same rate. Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Credit quality is based on Standard and Poor’s classification.
Fund Statistic
(as of 30-06-2024)
Annualised return:
Standard deviation:
Sharpe ratio:
Fund statistics are calculated by using 3 years historical data, and are not calculated for fund which is less than 3 years old.
Sharpe ratio: Morningstar Asia Limited used the USTREAS T-Bill Auction Ave 3 Mon as the risk free factor for calculation
Alpha & Beta: Morningstar Asia Limited Used Morningstar US Core Bd TR USD as the benchmark index for calculation
Fees and Charges
Initial charge:
Annual management fee (maximum):
Distribution fee:
Maintenance fee:
Redemption fee:
Performance fee:
Highest contingent deferred sales charge:
Switching Fee:
Switching transactions placed through HSBC are subject to 1% switching charge which is charged by HSBC, except switching transaction within the ‘No Subscription Fee Series’ across fund houses is free of charge.
For the ‘No Subscription Fee Series’ , an administration fee of 1% and a distribution fee of 1% - 1.25% p.a. may apply.
The listed information may not cover all the fees and charges imposed on a fund. Please refer to the respective offering documents of the fund for details of relevant fees and charges.
Other Fund Information
Fund class currency:
Fund class inception date:
Fund size (Million):
USD 24,800.79
(as of 28-06-2024)
Fund manager
(Start date):
GershonM. Distenfeld (01-01-2000)
MatthewS. Sheridan (01-01-2017)
ScottA. DiMaggio (01-10-2018)
Fahd Malik (01-01-2022)
Will Smith (08-02-2023)
Fund house:
AllianceBernstein Hong Kong Limited
Morningstar Rating:

(as of 30-06-2024)
Other fund classes available with HSBC:
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The information in this website relating to Unit Trusts are provided by Morningstar Asia Limited (“Information Provider”) to The Hongkong and Shanghai Banking Corporation Limited (the “Bank”) unless otherwise specified. For technical reasons, certain information provided by Information Provider may be different from that supplied by the respective fund houses. Neither the Information Provider nor the Bank guarantee or endorse the accuracy, reliability and completeness of the information provided by the Information Provider or that it is up-to date, and that such information has not been independently verified by the Bank. The Bank disclaims liability for any errors, omissions or inaccuracies in the information provided in this website. The Bank also disclaims liability for any loss or damages resulting from the use of information contained herein, or the inability to use such information or in connection with any error, interruption, delay in operation or incomplete transmission, line or system failure. The information contained herein is solely for personal and non-commercial use and for reference only, and the information are not intended to provide professional advice nor is HSBC, in providing such information intended to be advising on Unit Trust. The information contained in this website is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribed for any Unit Trusts or other investments or products or deposit. The information contain herein may not be copied or re-distributed by any means.

Investment involves risks. Past performance is no guide to future performance of the funds. The value of investments and the income from them can fluctuate and is not guaranteed. Please refer to the offering documents of the respective funds for details, including risk factors. This website has not been reviewed by the Securities and Futures Commission. The information contained on this website is intended for Hong Kong residents only and should not be construed as a distribution, an offer to sell, or a solicitation to buy any securities in any jurisdiction where such activities would be unlawful under the laws of such jurisdiction, in particular the United States of America. You should refer to the website disclaimers for further important details.

The Fund Risk Level stated in this website is determined according to the historical volatility of the fund or, where appropriate, the historical volatility of a comparable market index or comparable fund. You should refer to the detailed definition of fund risk level here.