GUINNESS ATKINSON RENMINBI YUAN & BOND FUND
Schedule of Investments
at September 30, 2023 (Unaudited)
Principal | ||||||||
Amount (CNH) | Corporate Bonds: 77.6% | Value | ||||||
Auto-Cars/Light Trucks: 3.4% | ||||||||
1,000,000 | Volkswagen International Finance NV, 2.900%, 01/21/24 | $ | 136,508 | |||||
Commercial Banks: 34.1% | ||||||||
1,000,000 | Bank of China, 3.080%, 04/28/26 | 136,273 | ||||||
1,000,000 | Bank of Communications Bank Co., Ltd., 3.200%, 03/21/24 | 136,756 | ||||||
4,000,000 | First Abu Dhabi Bank, 3.400%, 08/18/25 | 545,133 | ||||||
1,000,000 | QNB Finance Ltd., 3.800%, 06/17/25 | 136,770 | ||||||
1,000,000 | QNB Finance Ltd., 3.900%, 06/17/25 | 136,393 | ||||||
2,000,000 | Standard Chartered PLC 4.350%, 03/18/26 | 276,535 | ||||||
1,367,860 | ||||||||
Diversified Banks: 3.4% | ||||||||
1,000,000 | HSBC Holding, 3.400%, 06/29/27 | 136,468 | ||||||
Diversified Operations: 3.4% | ||||||||
1,000,000 | Wharf Finance Lrd., 3.250%, 01/14/24 | 136,841 | ||||||
Export/Import Bank: 20.5% | ||||||||
1,000,000 | Agriculture Development Bank of China 3.400%, 11/06/24 | 137,798 | ||||||
1,000,000 | China Development Bank, 3.030%, 11/27/23 | 137,040 | ||||||
1,000,000 | China Development Bank, 3.230%, 11/27/25 | 137,761 | ||||||
1,000,000 | European International Bank, 2.700%, 04/22/24 | 136,315 | ||||||
1,000,000 | Export-Import Bank of Korea, 4.500%, 01/27/24 | 137,436 | ||||||
1,000,000 | Kreditanstalt Fuer Wiederaufbau, 2.700%, 03/25/24 | 136,361 | ||||||
822,711 | ||||||||
Finance-Mtg Loan/Banker: 3.4% | ||||||||
1,000,000 | Hong Kong Mortgage Corp. Ltd., 2.700%, 02/09/24 | 136,574 | ||||||
Municipal City: 3.4% | ||||||||
1,000,000 | Municipality of Shenzhen China, 2.900%, 10/19/26 | 136,197 | ||||||
Transportation Services: 2.6% | ||||||||
1,000,000 | GLP China Holding Ltd., 4.000%, 02/7/24 | 106,268 | ||||||
Real Estate Operator/Developer: 3.4% | ||||||||
1,000,000 | Sun Hung Kai Properties 3.200%, 08/14/27 | 134,400 | ||||||
Total Corporate Bonds | $ | 3,113,827 | ||||||
(cost $3,486,068) | ||||||||
Total Investments in Securities | 3,113,827 | |||||||
(cost $3,486,068): 77.6% | ||||||||
China Yuan (Offshore): 21.8% | 831,831 | |||||||
Other Assets less Liabilities: 0.6% | 67,332 | |||||||
Net Assets: 100.0% | $ | 4,012,990 |
CNH - The official currency of the People’s Republic of China.