Product Name
Taikang Kaitai US Dollar Money Market Fund Class T Units
Product Structuring
TKUSD is a tokenised security representing Class T-USD Units of Taikang Kaitai US Dollar Money Market Fund. Taikang Asset Management (Hong Kong) Company Limited acts as Manager, BOCI-Prudential Trustee Limited acts as Trustee and as Transfer Agent and Registrar of the tokenised class, and Bank of China (Hong Kong) Limited acts as Custodian of the fund's assets. BC Technology (Hong Kong) Limited, the Tokenisation Provider, operates a permissioned digital platform built on Ethereum smart contracts on which one Token represents one tokenised Class T Unit.
Complex Product
Non-complex
Eligible Investor
Retail (Retail investors are eligible to invest in Class T-USD tokenised Units, but only through SFC-licensed Eligible Distributors appointed by the Manager. There is no restriction limiting participation to professional investors.)
Legal Classification
Tokenised security
Issuing Entity
Taikang Asset Management (Hong Kong) Company Limited
Regulator
Securities and Futures Commission of Hong Kong (SFC)
Underlying Asset
Class T-USD Units of Taikang Kaitai US Dollar Money Market Fund, a SFC-authorised Hong Kong money market sub-fund invested primarily in USD-denominated short-term deposits and high-quality money market instruments (time deposits, cash and cash equivalents and other money market instruments).
ISIN or Equivalent
HK0001202206 (Class T-USD)
Ratings
mfAAAg (money market fund rating) by China Chengxin (Asia Pacific) Credit Ratings Company Limited, published 29 November 2024
Derivative Exposure Details
The underlying fund is not itself a derivative product. It may invest in financial derivative instruments for hedging purposes only and not for investment purposes; any material currency risk arising from non-USD denominated investments will be appropriately hedged into USD. The fund's net derivative exposure may be up to 50% of its Net Asset Value, and the fund will not write any options.
Investment Objective
The fund's objective is to achieve a return in US Dollars in line with prevailing money market rates.
Investment Strategy
The fund invests primarily (not less than 70% of its Net Asset Value) in USD-denominated short-term deposits and high-quality money market instruments issued by governments, quasi-governments, international organisations, financial institutions and corporations, including government bills, short-term notes, bankers' acceptances, commercial papers, certificates of deposit, commercial bills and high-quality debt securities. Less than 20% of Net Asset Value may be invested in debt securities such as government bonds and fixed and floating rate bonds, and not more than 10% of Net Asset Value may be invested in money market funds authorised by the SFC or regulated in a comparable manner acceptable to the SFC. Non-USD denominated investments may account for up to 30% of Net Asset Value. The fund invests only in instruments which have, or whose issuers have, an investment grade rating of at least BBB-/Baa3 by an internationally recognised credit agency (or AAA by a Mainland Chinese domestic rating agency), or which benefit from a guarantor meeting that standard.
Investment Restriction
The fund maintains a weighted average maturity not exceeding 60 days and a weighted average life not exceeding 120 days, and may not purchase an instrument with a remaining maturity of more than 397 days (or two years for Government and other public securities). The aggregate value of instruments and deposits issued by a single entity will not exceed 10% of Net Asset Value, subject to the exceptions permitted under the SFC Code on Unit Trusts and Mutual Funds (up to 25% for a substantial financial institution, up to 30% for the same issue of Government and other public securities, and for deposits of less than USD1,000,000 where the fund cannot otherwise diversify due to its size). The fund will not invest in convertible bonds or in instruments with loss-absorption features, will not make short sales, and will not invest in securities that are neither listed, quoted nor dealt in on a stock exchange, over-the-counter market or other organised securities market open to the international public. Less than 30% of Net Asset Value may be invested in emerging markets and less than 30% in onshore and offshore RMB-denominated instruments (with onshore exposure below 20%). Borrowing is limited to 10% of Net Asset Value on a temporary basis for meeting redemption requests or defraying operating expenses, and sale and repurchase transactions, when aggregated with borrowing, are limited to 10% of Net Asset Value.
Underlying Fund Investment Manager
Taikang Asset Management (Hong Kong) Company Limited
Sub-Investment Manager
N/A
Fund Administrator
BOCI-Prudential Trustee Limited
Underlying Asset Custodian
Bank of China (Hong Kong) Limited
Underlying Asset Auditor
Deloitte Touche Tohmatsu
Smart Contract Address
0x5a4dbfa269f84fb147ff8a992ad2062ba4346f68
Token Standard / Network
ERC-20 / Ethereum
Smart Contract Audit
OpenZeppelin
Token Custodian
EXIO Limited
Technology Provider
BC Technology (Hong Kong) Limited
Token Administrator
BOCI-Prudential Trustee Limited
Financial Year End
2026-12-31
Official Website
https://hk.taikangasset.cn
