貿易通 2020 年年報

Management Discussion and Analysis (Continued) 管理層討論及分析（續） 36 Tradelink Electronic Commerce Limited Annual Report 2020 財務回顧（續） 持有的重大投資（續） (iii) 透過損益按公允價值計量的投資基金單位 於二零二零年十二月三十一日，本集團亦 持 有 2 項 投 資 基 金，總 金 額 為 港 幣 31,600,000 元（佔 本 集 團 資 產 總 值 的 5.4% ）。該等投資分別包括於 UBS (CAY) Investment Fund Series — UBS Asian Bonds Series 5 (USD) 的港幣 7,900,000 元投 資及於 UBS (CAY) Investment Fund Series — UBS Asian Bonds Series 6 (USD) 的港幣 23,700,000 元投資。前者將於二零二四年六 月三十日到期，而後者將於二零二三年 十二月二十二日到期。目標總到期收益率 分別為每年 4.8% 至 5.3% 及 5.0% 至 5.75% 。 有關投資基金專注投資於涉及亞太地區（日 本除外）的房地產、銀行及工業等各個行業 領域由主權機構、半主權機構及企業發行 以美元計價的固定收入證券。平均各基金 持有約 60 至 70 項投資級別的債務證券。投 資基金的目的為持有債券至到期日，惟亦 將定期監察及檢討所有證券，並在必要時 採取適當行動。 於二零二零年錄得投資收入港幣 400,000 元，即投資基金派付的股息收入。年內亦 確認公允價值收益合共港幣 400,000 元。 除上文所披露者外，於二零二零年十二月三十一 日，本集團並無持有任何其他重大財務投資。 為平衡風險與回報，其他財務資產之所有投資均 按照投資委員會批准之投資指引進行，該委員會 由本公司三名獨立非執行董事及一名非執行董事 組成。於確定任何獲得新業務之機會前，現金盈 餘儲備停於其他財務資產中，作為我們財務營運 一部分，以提高本集團現金盈餘收益率。 重大購買或出售 除本年報其他部分所披露者外，截至二零二零年 十二月三十一日止年度，本集團並無與附屬公 司、聯營公司及合營公司有關的任何重大收購或 出售。 Financial Review (Continued) Significant Investments Held (Continued) (iii) Units in investment funds measured at FVPL The Group also held 2 investment funds at 31 December 2020 with an aggregate amount of HK$31.6 million (accounting for 5.4% of the Group’s total assets). The investments composed of HK$7.9 million and HK$23.7 million investments in UBS (CAY) Investment Fund Series — UBS Asian Bonds Series 5 (USD) and UBS (CAY) Investment Fund Series — UBS Asian Bonds Series 6 (USD) respectively. The former will mature on 30 June 2024 while the latter will mature on 22 December 2023. The target gross yield to maturity are 4.8%–5.3% and 5.0%–5.75% per annum respectively. The investment funds focus on USD-denominated fixed income securities issued by sovereigns, quasi-sovereigns and corporates covering various industry sections such as real estate, banks and industrials in the Asia Pacific ex-Japan region. Each funds hold approximately 60–70 debt securities of investment grade on average. The investment funds aim to hold the bonds until maturity but will also monitor and review all the securities on a regular basis and take appropriate actions as necessary. Investment income of HK$0.4 million was recorded in 2020 which represented dividend income distributed by the investment funds. A fair value gain totaled HK$0.4 million was also recognised during the year. Save as disclosed above, the Group did not hold any other significant financial investment as at 31 December 2020. To balance risk and returns, all investments in the other financial assets were made in accordance with the investment guidelines which had been approved by the Investment Committee comprising three Independent Non-executive Directors and one Non-executive Director of the Company. Before any opportunities were identified to acquire new businesses, the cash surplus reserves were parked in the other financial assets as part of our treasury operations to improve the yield of the Group’s cash surpluses. Material acquisitions or disposals Saved as disclosed elsewhere in this annual report, the Group did not have any material acquisitions or disposals in relations to subsidiaries, associates and joint ventures during the year ended 31 December 2020.