AXA WF Framlington Europe
Real Estate Securities Fund -
Fund Documents

Monthly Report (EN) as of 31/01/2017

> A EUR 303 KB PDF
> A (H) USD 313 KB PDF
> A (H) q USD 325 KB PDF
> A (H) q HKD 319 KB PDF


Dividend Record 529 KB PDF as of 30/09/2016 

Composition of Dividend Payment 470 KB PDF as of 30/11/2016


Product Key Fact (EN) 194 KB PDF
as of 12/2016

Prospectus (EN) 807 KB PDF as of 12/2016

Annual Report (EN) 3122 KB PDF as of 12/2015

Semi-annual Report (EN) 3004 KB PDF as of 06/2016
 

AXA WF Framlington Europe
Real Estate Securities Fund - Fund Price

> A EUR
> A (H) USD
> A (H) q USD
> A (H) q HKD

 

安盛環球基金泛靈頓
歐洲房地產基金 - 基金文件

基金月報 截至 2017 年1月31日

> A  歐元 538 KB PDF
> A ﹝對沖﹞ 美元 528 KB PDF
> A ﹝對沖﹞每季派息 美元 555 KB PDF

> A ﹝對沖﹞每季派息 港元 578 KB PDF

派息紀錄 529 KB PDF  截至 2016 年12月31日

股息分派成份 470 KB PDF 截至2016年11月30日


產品資料概要 619 KB !format 截至 2016 年12月

基金說明書 1013 KB !format 截至 2016 年12月

 

安盛環球基金泛靈頓
歐洲房地產基金 - 基金價格

> A  歐元
> A ﹝對沖﹞ 美元
> A ﹝對沖﹞ 每季派息 美元
> A ﹝對沖﹞ 每季派息 港元
 

Important Note to Hong Kong Investors:

  • This is a sub-fund of AXA World Funds which is a Luxembourg based open-ended investment company with several separate sub-funds (individually the "Sub-Fund" and collectively the "Sub-Funds") each with different investment objectives and risks profile.
  • The Sub-Fund is mainly invested in equity for which there is a high risk of invested capital loss and is exposed to concentration risk on real estate and investment in specific geographic zones.
  • The Sub-Fund is subject to currency and foreign exchange, Eurozone political, regulatory, economic  and convertibility risks.
  • This Sub-Fund may use derivative instruments and may subject the investor to additional risks including counterparty, volatility, valuation, leverage and liquidity risks.
  • For the Distribution Shares, investors should be aware that dividends may be paid directly or effectively out of the Sub-Funds’ capital at the Management Company's discretion. This may result in an immediate decrease in the net asset value per share of the Distribution Shares. Payment of distribution out of the Sub-Funds’ 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, which may further decrease the net asset value per share and may also reduce the capital available for the Sub-Funds for future investment and capital growth.
  • Investors should not make investment decision on the basis of this document alone. The offering documents of the Fund should be read for further details including risk factors.

 

香港投資者須知

  • 本附屬基金隸屬於安盛環球基金,後者為盧森堡註冊開放式投資公司,另設多項附屬基金﹝各稱為「附屬基金」,統稱「各附屬基金」﹞,各有不同投資目標及風險取向。
  • 本附屬基金主要投資於較高風險證券,將有較高風險而導致資本損失,及須承受與集中投資於地產行業及特定地區投資的有關的風險。
  • 本附屬基金將承受貨幣及外匯、歐元區的政治、監管、經濟及兌換能力風險。
  • 本附屬基金有可能運用金融衍生工具,並可能會令投資者增加相關的風險,其中包括對手方風險,波動性風險,估值風險,槓桿風險及流動性風險。
  • 就分派股份而言,投資者應留意,股息可按管理公司酌情決定直接或實際從各附屬基金的資本中支付。這可能導致分派股份的每股資產淨值即時減少。從各附屬基金的資本中支付分派相當於退還或提取投資者部份原有的投資或任何歸屬於該原有投資的資本收益,可能進一步減少每股資產淨值,亦可能減低可供各附屬基金作日後投資的資本及資本增長。
  • 投資者不應只單憑本文件而作出任何投資決定。有關基金詳細資料和風險因素,請參閱該基金銷售文件。

 

Why Invest in Europe Real Estate Securities?

 

Low interest rate environment

The European "lower for longer" interest rate environment offers significant potential cost of capital benefits combined with the decline in financing rates for the listed real estate companies which are only having moderate levels of gearing.Thus, it creates favourable conditions for project investment and mergers & acquisitions.
 

Tapping Eurozone recovery

Real estate sector & the economic cycle is closely linked. The European listed real estate sector is well placed to take advantage of the up and rising development returns back by the improving economy.
 

Catchup potential

From a cyclical standpoint, Europe lacks the recovery seen in other global markets like the US. And therefore we believe that Europe is probably having a higher catch-up potential versus the rest of the world and other markets.
 

Diversified investment themes

European Real Estate sector is very fragmented with a rich diversification of investment themes across office, industrial and residential buildings and consists of more than 100 companies. Many of them are small and mid-sized companies which creates a superb hunting ground for investors. European Real Estate keeps gaining momentum and we are in a context where we can still buy property that has good yields with low financing levels.
 

Improving fundamental

European Real Estate sector still has room for improvement in the fundamentals with the existing healthy financing levels. A growing economy will be highly beneficial for the companies' earnings growth.

 

 

為何投資歐洲房地產基金?
 

低息環境持續

歐洲低息環境帶來更高的資金成本效益,令目前負債水平溫和的上市房地產企業的融資成本進一步下降,有利進行項目投資及收購合併。
 

受惠歐洲經濟復甦勢頭

房地產與經濟周期關係密切,受惠於歐洲經濟改善,上市房地產行業可望同步獲益。
 

捕捉增長潛力

參考環球市場的復甦週期表現,歐洲仍未到達如其他環球市場(像美國)般的全面復甦。因此,我們相信歐洲房地產市場仍有增長的潛力。
 

投資主題眾多

歐洲房地產行業非常分散,遍及工商住宅,主題眾多,有超過100間上市企業,當中不少更是中小型企業,為投資者帶來尋找價值的機遇。受惠於寬鬆的宏觀環境,投資者可把握低融資成本以物色租金回報穩定的項目。
 

基本因素穩健

現時歐洲上市房地產企業的資產負債表健康,經濟持續增長有利於企業的盈利增長,基本因素及估值有望進一步提升。

 

 

 

Distributor / 分銷商:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

This document has not been reviewed by the Securities Futures Commission (“SFC”).

This document is issued by AXA Investment Managers Asia Limited (“AXA IM Asia”). AXA IM Asia is regulated by SFC.The Sub-Fund has been authorized by the SFC in Hong Kong but authorization does not imply official approval orrecommendation. 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 an endorsement of its suitability for any particular investor or class of investors. The information contained in this document may be subject to change without notice. Information herein may be obtained from sources believed to be reliable. AXA IM Asia has reasonable belief that such information is accurate, complete and up-to-date. This documentation does not constitute an offer to purchase, sell or subscribe to financial instruments, an offer to sell investments fund or an offer of financial services. Investment involves risks. Investors are advised that the unit price of the performance of investments may go down as well as up. Past performance information is not indicative of future performance. Investors may not get back the full amount invested.

The Sub-Fund is authorized under the SFC Code on Unit Trusts and Mutual Funds but not under the Code on Real Estate Investment Trusts.

In the case where the currency of investment is different from the Fund's reference currency the gains are capable of varying considerably due to the fluctuations of the exchange rate.

本文件未經香港證券及期貨事務監察委員會(「證監會」) 審閱。

本文件乃由安盛投資管理亞洲有限公司(「安盛投資亞洲」) 刊發。安盛投資亞洲乃受證監會監管。本附屬基金已獲得證監會認可但並不代表該基金獲得官方的認同及推介。證監會認可不等如對該產品作出推介或認許,亦不是對該產品的商業利弊或表現作出保證,更不代表該產品適合所有投資者,或認許該產品適合任何個別投資者或任何類別的投資者。此文件的內容可不經通知而更改。本文件內的資料是摘自相信可靠的來源。安盛投資亞洲合理地相信該等資料屬準確、完整及為最新資料。本文件所載資料並不構成與收件人或任何其他人士訂立任何業務、交易、合約或協議的要約或條款或條件。投資涉及風險。投資者務請留意,投資項目價值可升可跌,過往表現並非未來回報的保證,投資者未必可取回當初投入的款項。

本附屬基金乃根據證監會《單位信託及互惠基金守則》但非《房地產投資信託基金守則》獲認可。

若投資貨幣與該基金之參考貨幣不同,匯率波動或會使投資得益大幅變動。

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