GUINNESS ATKINSON RENMINBI YUAN & BOND FUND
Schedule of Investments
at September 30, 2022 (Unaudited)
Principal Amount (CNH) | Corporate Bonds: 86.8% | Value | ||||||
Auto-Cars/Light Trucks: 11.6% | ||||||||
3,000,000 | BMW Finance, 2.800%, 8/11/23 | $ | 418,542 | |||||
1,000,000 | Volkswagen International Finance NV, 2.900%, 01/21/24 | 138,303 | ||||||
556,845 | ||||||||
Commercial Banks: 37.6% | ||||||||
1,000,000 | Bank of China, 3.080%, 04/28/26 | 138,686 | ||||||
1,000,000 | Bank of Communications Bank Co., Ltd., 3.200%, 3/21/24 | 140,381 | ||||||
2,000,000 | CBQ Finance Ltd., 4.000%, 08/05/23 | 281,051 | ||||||
1,000,000 | China Construction Bank, 2.850%, 04/22/23 | 139,930 | ||||||
4,000,000 | First Abu Dhabi Bank, 3.400%, 08/18/25 | 546,700 | ||||||
1,000,000 | QNB Finance Ltd., 3.800%, 06/17/25 | 138,961 | ||||||
1,000,000 | QNB Finance Ltd., 3.900%, 06/17/25 | 138,822 | ||||||
2,000,000 | Standard Chartered PLC 4.350%, 03/18/26 | 277,314 | ||||||
1,801,845 | ||||||||
Diversified Banks: 2.8% | ||||||||
1,000,000 | HSBC Holding, 3.400%, 06/29/27 | 134,110 | ||||||
Diversified Operations: 2.9% | ||||||||
1,000,000 | Wharf Finance Lrd., 3.250%, 01/14/24 | 139,294 | ||||||
Export/Import Bank: 17.6% | ||||||||
1,000,000 | Agriculture Development Bank of China 3.400%, 11/06/24 | 141,401 | ||||||
1,000,000 | China Development Bank, 3.030%, 11/27/23 | 140,618 | ||||||
1,000,000 | China Development Bank, 3.230%, 11/27/25 | 140,632 | ||||||
1,000,000 | European International Bank, 2.700%, 04/22/24 | 139,623 | ||||||
1,000,000 | Export-Import Bank of Korea, 4.500%, 01/27/24 | 141,940 | ||||||
1,000,000 | Kreditanstalt Fuer Wiederaufbau, 2.700%, 03/25/24 | 139,551 | ||||||
843,765 | ||||||||
Finance-Mtg Loan/Banker: 2.9% | ||||||||
1,000,000 | Hong Kong Mortgage Corp. Ltd., 2.700%, 02/09/24 | 139,301 | ||||||
Municipal City: 2.9% | ||||||||
1,000,000 | Municipality of Shenzhen China, 2.900%, 10/19/26 | 139,014 | ||||||
Transportation Services: 2.7% | ||||||||
1,000,000 | GLP China Holding Ltd., 4.000%, 02/7/24 | 133,061 | ||||||
Real Estate Operator/Developer: 5.8% | ||||||||
1,000,000 | Sun Hung Kai Properties 3.200%, 08/14/27 | 133,678 | ||||||
1,000,000 | Wharf Real Estate Investment Company Ltd., 3.200%, 09/15/23 | 139,644 | ||||||
1,000,000 | Zhenro Properties Group Ltd., 8.000%, 03/06/23 | 6,083 | ||||||
279,405 | ||||||||
Total Corporate Bonds | $ | 4,166,640 | ||||||
(cost $4,682,525) | ||||||||
Total Investments in Securities | 4,166,640 | |||||||
(cost $4,682,525): 86.8% | ||||||||
China Yuan (Offshore): 8.4% | 402,591 | |||||||
Other Assets less Liabilities: 4.8% | 228,650 | |||||||
Net Assets: 100.0% | $ | 4,797,881 |
CNH - The official currency of the People’s Republic of China.