Index Note:
Hang Seng TECH Index
2021
MIRAE ASSET INVESTMENT MANAGER (INDIA) PVT. LTD
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Contents
Introduction: ... 2
Index Summary:... 2
Aim of the Index: ... 2
Selection of Constituents: ... 3
Rebalancing Frequency & Weighing: ... 4
Portfolio along with weightage: ... 5
Sector level distribution: ... 6
Performance Analysis: ... 6
Company Description: Hang Seng TECH Index Constituents ... 10
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Introduction:
Hang Seng TECH Index represents the 30 largest technology companies of Greater China region that are listed in Hong Kong stock market that have high business exposure to technology themes and pass the index's screening criteria.
Index Summary:
Particular Description
Name Hang Seng TECH Index
Number of Constituents Fixed
Number of stocks currently 30 stocks (30 companies)
Weighing Float adjusted market capitalization
Stock or Sector Capping Stock Capping
Eligible Stocks Technology companies listed in Hong Kong which have high business exposure to the Technology Themes
Universe Greater China companies that
are listed on the Main Board of the Hong Kong Exchange
Review & Reconstitution Quarterly
Index Launch Date 27th July 2020
Back-Tested Data Available Since 31st December 2014 Variants Price Return & Total Return Index
Stock capping 8% of individual securities
Theme Requirement
High Exposure to at least one of the themes belonging to Internet (mobile); FinTech; Cloud; E-Commerce; or Digital and
Autonomous Vehicle
Currency Denomination Hong Kong Dollars (HKD)
Base Value of Index 3,000
Aim of the Index:
The aim of the index is to track performance of the 30 largest technology companies listed in Hong Kong, deriving revenue from Greater China Region, which have high business exposure to the Technology Themes. The Technology theme that index intends to capture is Internet (mobile); FinTech; Cloud; E- Commerce; or Digital and Autonomous Vehicle.
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Selection of Constituents:
1- Index Universe:
Securities of Greater China companies that are listed on the Main Board of the Hong Kong Stock Exchange (HKEX) are considered. It excludes Foreign Companies and Investment Companies listed under Chapter 21 of HKEX’s Listing Rules.
Foreign Companies are referred to as companies which are incorporated outside Greater China (i.e. Hong Kong, Mainland China, Macau and Taiwan) and have the majority of their business presence outside Greater China. In order to identify if a company a greater china company or not, please refer to the below flow chart for details
2- Eligibility Criteria:
Turnover requirement - Velocity Test is done to ensure that only liquid securities listed on the Hong Kong Stock Exchange form part of the index. Velocity basically determined how much share of a company is traded on the exchange. Velocity of a security is calculated as
Velocity = Median of Daily Traded Shares in Specific Calendar Month/Free Float adjusted Issue Share at month End
For a security to be eligible for selection, velocity should be minimum of 0.1% for at least 10 out of the past 12 months.
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3- Sector requirement: Company should be belonging to the below mentioned Industries in the Hang Seng Industry Classification System: Industrials; Consumer Discretionary; HealthCare; Financials and Information Technology
4- Theme requirement: Company should have high business exposure to at least one of the following Tech Themes: Internet (including mobile); FinTech; Cloud; E-Commerce; Digital; or Autonomous.
5- Innovation Screening: Company should meet at least one of the below criteria:
• Technology-enabled business (e.g. via internet/mobile platform); or
• R&D expense to Sales >= 5%; or
• YoY Revenue Growth >=10%.
Note: The Sectors, Themes and Innovation Screening requirements are reviewed at least annually Constituents Selection:
The top 30 securities with the highest Market Value (MV) Rank will be selected as constituents Fast Entry:
• A newly listed security will be added to index if its full market capitalization ranks within the top 10 of the existing constituents on its first trading day
• The ad hoc addition will normally be implemented after the close of the 10th trading day of the new issue
• In such scenario’s the index may end of having more than 30 securities
Rebalancing Frequency & Weighing:
The index is reconstituted and reviewed for constituent changes on a Quarterly Basis (Mar/Jun/Sep/Dec).
Index has a buffer of 20% i.e. Existing constituents ranked lower than 36th will be removed from the index, while non-constituents ranked 24th or above will be include. Remaining stocks (in case of shortfall) is selected based on market value
The weight of individual securities in an index is based on Free float-adjusted market capitalization weighted with a maximum weight of 8%.
Between the two-rebalancing quarter, the weight of each index constituents may drift due to relative price movement observed for each stock.
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Portfolio along with weightage:
The current composition of the index consists of 30 of the largest Greater China Tech companies operating in different segment of the market and one of leading companies in their industry/sector.
*Data as on Sep 30, 2021; Aforesaid stock weighing is based on ETF tracking the underlying indices.Past performance may or may not sustain in future. The data pertains to the Index and does not in manner indicate performance of any scheme of the Fund. The Industry/Sector classification is as per Global Industry Classification Standards (GICS).
S.No. Name GICS Industry Weight (%)
1 MEITUAN-CLASS B Internet & Direct Marketing 8.55
2 TENCENT HOLDINGS LTD Interactive Media & Services 8.28
3 JD.COM INC - CL A Internet & Direct Marketing 7.98
4 KUAISHOU TECHNOLOGY Interactive Media & Services 7.79
5 SUNNY OPTICAL TECH Electronic Equipment, Instrument 7.52
6 ALIBABA GROUP HOLDING LTD Internet & Direct Marketing 7.42
7 XIAOMI CORP-CLASS B Technology Hardware, Storage 7.37
8 SEMICONDUCTOR MANUFACTURING Semiconductors & Semiconductor 5.58 9 JD HEALTH INTERNATIONAL INC Internet & Direct Marketing 4.74
10 HAIER SMART HOME CO LTD-H Household Durables 3.74
11 KINGDEE INTERNATIONAL SFTWR Software 3.58
12 LENOVO GROUP LTD Technology Hardware, Storage 3.42
13 ALIBABA HEALTH INFORMATION Health Care Technology 2.99
14 NETEASE INC Entertainment 2.29
15 KINGSOFT CORP LTD Entertainment 1.57
16 CHINA LITERATURE LTD Media 1.54
17 AAC TECHNOLOGIES HOLDINGS Electronic Equipment, Instrument 1.53
18 BAIDU INC-CLASS A Interactive Media & Services 1.52
19 ASM PACIFIC TECHNOLOGY Semiconductors & Semiconductor 1.50 20 HUA HONG SEMICONDUCTOR LTD Semiconductors & Semiconductor 1.34
21 WEIMOB INC Software 1.32
22 BILIBILI INC-CLASS Z Entertainment 1.31
23 TONGCHENG-ELONG HOLDINGS LTD Hotels, Restaurants & Leisure 1.29
24 ZHONGAN ONLINE P&C INSURAN-H Insurance 1.29
25 BYD ELECTRONIC INTL CO LTD Communications Equipment 1.23
26 MING YUAN CLOUD GROUP HOLDIN Software 1.18
27 PING AN HEALTHCARE AND TECHN Health Care Providers & Service 0.99
28 GDS HOLDINGS LTD-CL A IT Services 0.65
29 TRIP.COM GROUP LTD Hotels, Restaurants & Leisure 0.30 30 AUTOHOME INC-CLASS A Interactive Media & Services 0.09
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Sector level distribution:
S.No. Name Weight
1 Internet & Direct Marketing Retail 28.7
2 Interactive Media & Services 17.7
3 Technology Hardware, Storage 10.8
4 Electronic Equipment, Instrument 9.0
5 Semiconductors & Semiconductor 8.4
6 Software 6.1
7 Entertainment 5.2
8 Household Durables 3.7
9 Health Care Technology 3.0
10 Hotels, Restaurants & Leisure 1.6
11 Media 1.5
12 Insurance 1.3
13 Communications Equipment 1.2
14 Health Care Providers & Services 1.0
15 IT Services 0.6
*Data as on Sep 30, 2021; Aforesaid stock weighing is based on ETF tracking the underlying indices.Past performance may or may not sustain in future. The data pertains to the Index and does not in manner indicate performance of any scheme of the Fund. The Industry/Sector classification is as per Global Industry Classification Standards (GICS).
Performance Analysis:
• Since Inception i.e. 31st Dec 2014, Hang Seng Tech Index has generated return of 15.0% per annum that outperform Nifty50 Index which has generated return of 13.2%. Across calendar year the index has outperformed Nifty 50 Index in 5/7 calendar year. (data as on Sep 30, 2021)
• The recent correction in Chinese Tech stock amidst crackdown by Chinese Government has weighed on the index return. From Calendar Year, the Hang Seng Tech Index has outperformed S&P 500 Top 50 Index in 5/7 Calendar Year and NASDAQ-100 Index in 4/7 Calendar Year.
• Hong Kong Dollar (HKD) has appreciated by 2.2% in line with USD adding to Indian Investor’s return.
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Return in INR (Indian Rupee) (in %) Index
Name
Hang Seng Tech Index
Hang Seng Index
Nifty50 Index
S&P 500 Top 50
Index
NASDAQ- 100 Index
NYSE FANG+
Index
INR/USD INR/HKD
SI 15.0% 6.7% 13.2% 18.4% 24.4% 38.2% 2.4% 2.4%
5 Years 13.7% 6.8% 16.8% 21.5% 28.7% 41.2% 2.2% 2.1%
3 Years 13.8% 0.0% 18.6% 19.4% 26.5% 37.2% 0.8% 1.0%
2 Years 28.8% 2.7% 25.3% 29.8% 42.3% 70.1% 2.5% 2.7%
1 Years -13.5% 7.7% 58.5% 28.4% 30.4% 30.6% 0.6% 0.2%
6 months -24.2% -10.3% 20.8% 13.4% 13.8% 9.3% 1.0% 1.4%
3 months -26.3% -15.4% 11.8% 1.9% 1.4% -4.0% 0.1% -0.3%
Calendar Year Return
2015 17.2% 0.9% -3.0% 9.1% 14.9% 36.2% 4.7% 5.0%
2016 16.0% 7.0% 4.4% 14.0% 9.9% 18.8% 2.5% 2.6%
2017 43.1% 31.9% 30.3% 16.0% 25.1% 49.3% -5.9% -6.7%
2018 -31.1% -2.5% 4.6% 5.5% 9.2% 9.5% 9.2% 9.0%
2019 41.6% 16.3% 13.5% 35.3% 42.4% 42.9% 2.1% 2.8%
2020 84.7% 2.6% 16.1% 27.6% 52.6% 108.2% 2.5% 2.9%
2021 YTD -26.6% -6.4% 27.2% 18.6% 16.5% 12.8% 1.6% 1.1%
*Data as on Sep 30, 2021, Since Inception: 31st Dec 2014; Bloomberg data; Exchange rate of FBIL are used for conversion of index value from USD to INR. Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund.
3 Year Rolling Return in INR
On 3 year rolling basis Hang Seng TECH Index has generated return of 14.5% vis-à-vis 10.9% generated by Nifty 50 Total Return Index as on Sep 30, 2021. The Hang Seng TECH Index has outperformed Nifty50 Total Return Index at least 26% of the time by alpha of at least 10% on a three-year rolling CAGR basis.
The index has unperformed Nifty 50 Index on 40% of the instances observed during the 3-year rolling period analysis and has outperformed Nifty50 Index on 60% of the instance during the same period.
Hang Seng TECH Index rolling return vis-à-vis Nifty 50 Index
Rolling returns period Alpha of Hang Seng Tech over NIFTY 50 (% times)
Over 10% b/w 5% to 10% b/w 0% to 5% Underperformance
3 Year 26% 15% 20% 40%
*Data as on Sep 30, 2021, Since Inception: 31st Dec 2014; Bloomberg data; Exchange rate of FBIL are used for conversion of index value from USD to INR. Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund.
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Hang Seng TECH Index performance – Pre and Post Regulatory headwinds
Pre – Regulatory Issues (As on 28th February, 2021) Index
Name
Hang Seng Tech Index
Hang Seng Index
Nifty50 Index
S&P 500 Top 50
Index
NASDAQ- 100 Index
NYSE FANG+
Index
INR/USD INR/HKD
SI 23.9% 9.7% 10.9% 17.1% 24.0% 41.4% 2.3% 2.5%
5 Years 28.2% 13.9% 17.1% 19.5% 27.8% 46.6% 1.2% 1.4%
3 Years 23.3% 5.2% 12.6% 19.8% 29.0% 42.1% 4.1% 4.6%
2 Years 50.4% 6.0% 17.2% 23.9% 37.7% 65.7% 1.4% 2.3%
1 Years 78.1% 15.4% 25.9% 30.0% 49.4% 96.5% 1.8% 3.0%
6 months 21.7% 13.1% 26.4% 3.0% 6.3% 19.7% -1.8% -1.2%
3 months 9.7% 6.9% 12.3% 3.2% 4.4% 16.3% -1.0% -0.9%
Latest Performance amid regulatory headwinds (As on 30th September, 2021)
SI 15.0% 6.7% 13.2% 18.4% 24.4% 38.2% 2.4% 2.4%
5 Years 13.7% 6.8% 16.8% 21.5% 28.7% 41.2% 2.2% 2.1%
3 Years 13.8% 0.0% 18.6% 19.4% 26.5% 37.2% 0.8% 1.0%
2 Years 28.8% 2.7% 25.3% 29.8% 42.3% 70.1% 2.5% 2.7%
1 Years -13.5% 7.7% 58.5% 28.4% 30.4% 30.6% 0.6% 0.2%
6 months -24.2% -10.3% 20.8% 13.4% 13.8% 9.3% 1.0% 1.4%
3 months -26.3% -15.4% 11.8% 1.9% 1.4% -4.0% 0.1% -0.3%
• Hang Seng TECH Index had outperformed Nifty50 by around 11% in last 5 year and 3-year period (As on Feb 28th 2021), before regulatory headwinds.
• Hang Seng TECH Index pre-regulatory headwinds has generated return almost similar to NASDAQ-100 Index (Since inception as on Feb 28th 2021)
Risk in INR
As expected, Hang Seng Tech Index, being tech centric and covering Chinese government, can be considered to have higher risk than broad based indices also in comparison to NYSE FANG+ Index and NASDAQ-100 Index.
The Volatility for Hang Seng TECH Index has been higher across all the period and Calendar Year. The closest in terms of volatility comes to comparison is NYSE FANG+ Index.
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Hang Seng Tech Index
Hang Seng Index
Nifty50 Index
S&P 500 Top 50
Index
NASDAQ- 100 Index
NYSE FANG+
Index
INR/USD INR/HKD
SI 30.9% 18.2% 17.4% 18.7% 21.5% 26.6% 5.0% 5.2%
5 Years 30.8% 17.8% 18.1% 19.9% 22.8% 28.2% 5.2% 5.3%
3 Years 34.9% 19.9% 21.8% 23.9% 27.0% 32.3% 5.4% 5.6%
2 Years 37.1% 20.9% 24.4% 26.1% 28.7% 33.1% 4.9% 5.0%
1 Years 38.4% 20.1% 15.4% 15.8% 20.6% 26.7% 4.2% 4.5%
6 months 37.4% 20.9% 12.4% 13.4% 15.9% 19.8% 4.6% 4.9%
3 months 45.5% 25.4% 9.7% 13.1% 13.6% 17.6% 4.3% 3.5%
Calendar Year Risk
2015 36.0% 19.3% 16.0% 15.6% 17.4% 21.3% 4.8% 5.2%
2016 21.7% 17.6% 14.3% 12.7% 16.2% 21.7% 4.3% 4.3%
2017 22.1% 11.5% 9.0% 8.2% 11.3% 16.9% 4.1% 4.1%
2018 30.0% 19.1% 12.7% 19.3% 23.3% 29.9% 6.4% 6.4%
2019 24.7% 15.1% 13.5% 13.7% 16.7% 23.5% 5.2% 5.5%
2020 38.2% 21.9% 31.1% 33.8% 36.1% 39.6% 5.4% 5.4%
2021 YTD 40.2% 21.5% 15.8% 14.9% 19.9% 26.6% 4.4% 4.8%
*Data as on Sep 30, 2021, Since Inception: 31st Dec 2014; Bloomberg data; Exchange rate of FBIL are used for conversion of index value from USD to INR. Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund. Risk is nothing but computed as annualized standard deviation of daily return observation for specific investment horizon for all the indices using their INR total return variant.
Hang Seng TECH Index has relatively very low correlation to Nifty 50 Index and US market indices.
Although being Tech Centric index the correlation with NASDAQ-100 Index and NYSE FANG+ Index has been relatively lower indicating that the factors impacting the Tech business in the west coast and east coast differs from host of different factors.
Correlation Index Name
Hang Seng Tech Index
Hang Seng Index
Nifty50 Index
S&P 500 Top 50
Index
NASDAQ- 100 Index
NYSE FANG+
Index
INR/USD INR/HKD
SI 1.00 0.76 0.31 0.15 0.18 0.24 -0.14 -0.06
*Data as on Sep 30, 2021, Since Inception: 31st Dec 2014; Bloomberg data; Exchange rate of FBIL are used for conversion of index value from USD to INR. Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund. Risk is nothing but computed as annualized standard deviation of daily return observation for specific investment horizon for all the indices using their INR total return variant.
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Company Description: Hang Seng TECH Index Constituents
Company Name Company Description KUAISHOU TECHNOLOGY
Kuaishou Technology operates as a content community and social platform.
The Company helps users create, upload and watch short videos on mobile devices. Kuaishou Technology offers services worldwide.
JD.COM INC
JD.com, Inc. is an online direct sales company in China. The Company offers a wide selection of products through its website and mobile applications.
JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.
TENCENT HOLDINGS LTD
Tencent Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides social networking, music, web portals, e- commerce, mobile games, Internet services, payment systems, entertainment, artificial intelligence, and technology solutions. Tencent Holdings serves customers worldwide.
MEITUAN
Meituan operates as a web-based shopping platform for locally found consumer products and retail services. The Company offers deals of the day by selling vouchers on local services and entertainment, dining, delivery, and other services. Meituan provides its services throughout China.
XIAOMI CORP
Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software, set-top boxes, and related accessories. Xiaomi markets its products worldwide.
SUNNY OPTICAL TECHNOLOGY LTD
Sunny Optical Technology Group Co., Limited designs and manufactures optical and optical related products. The Company's products include glass/plastic lenses, prisms, mobile phone camera modules, microscopes, surveying instruments, and other analytical instruments.
ALIBABA GROUP HOLDING LTD
Alibaba Group Holding Limited operates as a holding company. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.
SEMICONDUCTOR MANUFACTURING INTERN
Semiconductor Manufacturing International Corporation operates as a semiconductor foundry. The Company provides integrated circuit foundry and technology services including the testing, development, design, manufacturing, packaging, and sale of integrated circuits. Semiconductor Manufacturing International offers its products and services around the world.
JD HEALTH INTERNATIONAL INC
JD Health International Inc. operates drug stores. The Company retails Chinese and Western medicines, nutrition products, health care products, and other products. JD Health International markets its products throughout China.
HAIER SMART HOME CLASS LTD
Haier Smart Home Co. Ltd. manufactures and distributes appliances. The Company produces air conditioners, refrigerators, freezers, small household electrical appliances, and other related products. Haier Smart Home markets its products domestically and internationally.
KINGDEE INT L SOFTWARE GROUP LTD
Kingdee International Software Group Company Limited, through its subsidiaries, develops and sells enterprise management software, e- commerce application software and middleware software. The Company also
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provides internet-based services and setting up e-commerce platforms for enterprises. In addition, Kingdee provides solution consulting and technical support services.
LENOVO GROUP LTD
Lenovo Group Limited, through its subsidiaries, sells and manufactures personal computers and handheld devices. The Company provides laptops, desktops, tablet PCs, accessories, and data center equipment such as servers and storage, as well as offers IT services and contracting manufacturing business. Lenovo Group serves customers worldwide.
ALIBABA HEALTH INFORMATION TECH LTD
Alibaba Health Information Technology Limited is an integrated healthcare information and content service provider. The Company uses product identification, authentication, and tracking system data for its healthcare information.
NETEASE INC
NetEase, Inc. operates as an leading internet technology company providing online services including content, community, communication, and commerce. The Company develops and operates online games, electronic commerce, internet media, innovative business, and other businesses.
NetEase expands its businesses to Japan, North American, and other other international markets.
CHINA LITERATURE LTD
China Literature Limited operates an online literature platform. The Company sells e-books and also manages an online publishing house. China Literature serves customers in China.
ASM PACIFIC TECHNOLOGY LTD
ASM Pacific Technology Limited manufactures semiconductor back end equipment. The Company produces assembly equipment, packaging equipment, surface mount technology equipment, and other equipment. ASM Pacific Technology supplies its products in microelectronics, semiconductor, optoelectronics, and other fields.
AAC TECHNOLOGIES HOLDINGS INC
AAC Technologies Holdings Inc. designs, develops and manufactures a broad range of miniaturized components that include speakers, receivers and microphones in the acoustic segment. The Company produces these components for mobile devices such as smartphones, tablets, wearables, ultrabooks, notebooks and electronic book-readers.
BAIDU CLASS A INC
Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.
KINGSOFT CORP LTD
Kingsoft Corporation Ltd. develops and markets computer software. The Company develops role-playing computer games and security, word processing, and spreadsheet software.
BILIBILI CLASS Z INC
Bilibili Inc. provides online entertainment services. The Company offers a platform that covers a wide array of genres and media formats, including videos, live broadcasting, mobile games, animation, and comics. Bilibili serves customers in China.
BYD ELECTRONIC (INTERNATIONAL) LTD
BYD Electronic International Co., Ltd. researches, develops, manufactures handset components such as handset casings and handset keypads and modules for handset manufacturers. The Company also provides assembly services comprising assembly service and PCB assembly service to global handset manufacturers.
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WEIMOB INC
Weimob Inc. is a China-based company which provideds cloud-based commerce and marketing solutions. The Company's products are categorized into three cloud service offerings, namely Commerce Cloud, Marketing Cloud, and Sales Cloud. Weimob conducts business in the domestic market.
HUA HONG SEMICONDUCTOR LTD
Hua Hong Semiconductor Limited manufactures semiconductors on 200mm wafers for specialty applications. The Company's products are used in the consumer electronic, communication, computing and industrial, and automotive industries.
ZHONGAN ONLINE P & C INSURANCE
ZhongAn Online P & C Insurance Co., Ltd. operates as an insurance company.
The Company develops and sells health, airline, and automotive insurance, and other products. ZhongAn Online P & C Insurance also offers online consumer finance services.
TONGCHENG-ELONG HOLDINGS LTD
Tongcheng-Elong Holdings Limited operates as an online travel agency. The Company provides transportation ticketing, accommodation reservation, value-added travel products, and other services. Tongcheng-Elong Holdings serves customers in China.
MING YUAN CLOUD GROUP HOLDINGS LTD
Ming Yuan Cloud Group Holdings Limited develops software products. The Company provides enterprise resource planning open platforms, software as a service products, platform as a service infrastructure products, and other products. Ming Yuan Cloud Group provides its services throughout China.
PING AN HEALTHCARE AND TECHNOLOGY
Ping An Healthcare and Technology Company Limited provides health care software solutions. The Company offers mobile platform for online consultation, hospital referral and appointment, health management, and wellness interaction services, as well as connects consumers and patients with health care resources. Ping An Healthcare and Technology serves customers in China.
GDS HOLDINGS LTD CLASS A
GDS Holdings Limited operates as a leading developer and operator of data centers. The Company offers colocation and managed services, as well as direct private connection to major public cloud platforms. GDS Holdings serves large Internet companies, financial institutions, telecommunications, and IT service providers in China.
TRIP.COM GROUP LTD
Trip.com Group Limited provides online travel agency services. The Company offers mobile applications, hotel reservations, flight ticketing, package tours, corporate travel management, and train ticketing services. Trip.com Group provides services worldwide.
AUTOHOME CLASS A INC
Autohome Inc. operates as an automotive Internet platform. The Company through its platform provides buying and selling cars. Autohome also offers financing services.
Source: Bloomberg, Data as on Sep 30, 2021
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The information contained in this document is compiled from third party and publicly available sources and is included for general information purposes only. There can be no assurance and guarantee on the yields. Views expressed by the Fund Manager cannot be construed to be a decision to invest. The statements contained herein are based on current views and involve known and unknown risks and uncertainties. Whilst Mirae Asset Investment Managers (India) Private Limited (the AMC) shall have no responsibility/liability whatsoever for the accuracy or any use or reliance thereof of such information. The AMC, its associate or sponsors or group companies, its Directors or employees accepts no liability for any loss or damage of any kind resulting out of the use of this document. The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein. Any reliance on the accuracy or use of such information shall be done only after consultation to the financial consultant to understand the specific legal, tax or financial implications.
Hang Seng Index’s Company Limited Disclaimer:
The mark and name "Hang Seng TECH Index" is proprietary to Hang Seng Data Services Limited ("HSDS") which has licensed its compilation and publication to Hang Seng Indexes Company Limited ("HSIL"). HSIL and HSDS have agreed to the use of, and reference to, the Hang Seng TECH Index by Mirae Asset Mirae Asset Investment Manager (India) Private Ltd ("the Issuer") in connection with the Mirae Asset Hang Seng TECH ETF and Mirae Asset Hang Seng TECH ETF Fund of Fund (the "Product"). However, neither HSIL nor HSDS warrants, represents or guarantees to any person the accuracy or completeness of the Hang Seng TECH Index, its computation or any information related thereto and no warranty, representation or guarantee of any kind whatsoever relating to the Hang Seng TECH Index is given or may be implied. Neither HSIL nor HSDS accepts any responsibility or liability for any economic or other loss which may be directly or indirectly sustained by any person as a result of or in connection with the use of and/or reference to the Hang Seng TECH Index by the Issuer in connection with the Product, or any inaccuracies, omissions or errors of HSIL in computing the Hang Seng TECH Index. Any person dealing with the Product shall place no reliance whatsoever on HSIL and/or HSDS nor bring any claims or legal proceedings against HSIL and/or HSDS in any manner whatsoever. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker or other person dealing with the Product and HSIL and/or HSDS and must not be construed to have created such relationship.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.
For further information about other schemes (product labelling and performance of the fund) please visit the website of the AMC: www.miraeassetmf.co.in
Please consult your financial advisor before investing
