Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KTEC seeks to track the performance of the Hang Seng TECH Index, which captures the 30 largest companies in Hong Kong's rapidly growing technology sector. The Index provides exposure to innovative companies with strong research & development investment, high revenue growth, and themes such as cloud, E-Commerce, fintech and internet. The Index is freefloat market capitalization weighted with an 8% cap on individual constituent weighting.

Hong Kong Technology Sector Highlights:

  • China led the world in retail web sales with $1.8 trillion total sales in 20201 (compared to $861 billion2 in the United States).
  • China is becoming a world leader in advanced Information Technology hardware production, focusing on 5G equipment and semiconductors.
  • Since the launch of the Shanghai and Shenzhen Stock Connect programs in 2014 and 2016, Mainland investors now represent 8.5% of Hong Kong's free-float market capitalization. This number is projected to increase significantly in the coming years3.

KTEC Provides:

  • Focused exposure to the largest technology companies listed in Hong Kong.
  • Access to companies benefitting from increasing domestic consumption by China's growing middle class, which is increasingly occurring online.
  • Access to Hong Kong-listed 5G and semiconductor companies that offer a potential source of uncorrelated, long-term growth.

1. National Bureau of Statistics of China. Note: Figures converted from Chinese Renminbi to USD as of 4/6/2021.
2. Digital Commerce 360. “US ecommerce grows 44.0% in 2020.” January 29, 2021.
3. Lockett Hudson, "Chinese investors flood Hong Kong's bruised stock market with cash" Financial Times, January 12, 2021.

Premium Discount Chart

Daily Performance

Data as of 07/24/2024
Daily Net Asset Value (NAV) and Market Price
NAV $10.87
NAV Daily Change -1.45%
Market Price $10.76
Market Price Daily Change -2.09%
30 Day Median Bid/Ask Spread
0.53%

Performance History

Cumulative %
Data as of: 06/30/2024
Fund NAV Closing Price Index
1 Month -3.57% -5.08% -3.35%
3 Month 2.78% 1.10% 3.01%
6 Month -3.82% -4.42% -4.91%
YTD -3.82% -4.42% -4.91%
Since Inception -55.25% -55.45% -54.76%
Avg Annualized %
Data as of quarter end: 06/30/2024
Fund NAV Closing Price Index
1 Year -7.22% -8.02% -7.88%
3 Year -23.99% -24.05% -23.77%
Since Inception -23.09% -23.20% -22.81%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Ex-Date Record Date Payable Date Amount

Future calendar dates are subject to change. There is no guarantee that dividends will be paid. Past distributions are not indicative of future trends. This material is provided for educational purposes only and does not constitute investment advice.

Distributions are issued to brokers on the payable date, and are subject to broker payment schedules.

Distribution History

2023 Distributions
Ex-Date Record Date Payable Date Amount
12/18/2023 12/19/2023 12/20/2023 0.092978
2022 Distributions
Ex-Date Record Date Payable Date Amount
12/28/2022 12/29/2022 12/30/2022 0.020779
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2021 12/30/2021 12/31/2021 0.000000

Growth of $10,000

Data as of 07/24/2024

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 07/24/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 MEITUAN-CLASS B 9.02% 3690 KYG596691041 47,280 685,954
2 ALIBABA GROUP HOLDING LTD 8.79% 9988 KYG017191142 70,400 668,905
3 TENCENT HOLDINGS LTD 8.68% 700 KYG875721634 14,200 660,423
4 XIAOMI CORP-CLASS B 8.42% 1810 KYG9830T1067 302,600 640,903
5 JD.COM INC-CLASS A 7.77% 9618 KYG8208B1014 45,910 591,410
6 KUAISHOU TECHNOLOGY 7.10% 1024 KYG532631028 96,500 540,004
7 NETEASE INC 6.56% 9999 KYG6427A1022 26,205 499,315
8 LI AUTO INC-CLASS A 6.31% 2015 KYG5479M1050 50,300 479,857
9 LENOVO GROUP LTD 5.33% 992 HK0992009065 308,000 405,445
10 BAIDU INC-CLASS A 3.89% 9888 KYG070341048 26,350 296,084

Holdings are subject to change.