Investment Objective
Provide stable growth for the Members’ retirement savings by investing in a globally diversified manner. The Age 65 Plus Fund, through its underlying investments, will hold 20 per cent of its assets in Higher Risk Assets ( generally means equities or similar investments), with the remainder investing in Lower Risk Assets (including without limitation global bonds and money market instruments). The asset allocation to Higher Risk Assets may vary between 15 per cent and 25 per cent due to differing price movements of various equity and bond markets.
Fund Details
Latest Fund Expense Ratio: 0.78%
Launch Date(dd/mm/yyyy): 08/10/2009
Unit Price: HKD 12.29
Fund Size: HKD 925.72M
Fund Commentary
Markets have been extremely volatile over the quarter as it became clear that the coronavirus disease (COVID-19) was going to cause severe economic dislocation. Forecasters have struggled to revise their projections fast enough to keep pace with the unfolding economic scenario. Policy makers have been quick to act to try to offset some of the damage, and both fiscal and monetary stimulus has been implemented globally. Against this background, stock markets sold off and government bonds returned positively against dramatically lowered interest rates. The fund ended in the negative territory over the quarter amid the COVID-19 outbreak which impacted investor sentiment resulting in major stock market sell-off. The main detraction came from the global equity sleeve. In particular, our tactical allocation to Japanese equities was unfavorable. On the fixed income side, government bonds returned positively offsetting part of the negative return from the equity side as US treasury yields lowered over the quarter. Asian Local Currency bonds returned unfavorably as major Asian local currencies depreciated against the Hong Kong dollar.
Fund Performance Information
Annualised return |
Calendar year return |
1 year (p.a. %) |
5 years (p.a. %) |
10 years (p.a. %) |
Since Launch (p.a. %) |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
3.36% |
1.98% |
2.12% |
1.99% |
-1.91 | 2.23 | 5.36 | -1.72 | 9.91 | -1.92 |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since Launch (p.a. %) |
3.36% |
1.98% |
1.99% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
-1.91 | 2.23 | 5.36 | -1.72 | 9.91 | -1.92 |
Top 10 Holdings
Security name |
Holdings Weight |
US Treasury N/B 1.75% 15/11/2029 |
2.7% |
US Treasury N/B 1.875% 30/11/2021 |
2.5% |
US Treasury N/B 2.25% 31/01/2024 |
1.8% |
Bundesrepub. Deutschland 0.00% 15/02/2030 |
1.8% |
US Treasury N/B 2.25% 31/03/2026 |
1.8% |
US Treasury N/B 1.75% 31/07/2024 |
1.8% |
US Treasury N/B 2.25% 15/08/2049 |
1.7% |
US Treasury N/B 2.50% 15/05/2024 |
1.7% |
US Treasury N/B 1.50% 15/02/2030 |
1.6% |
US Treasury N/B 1.625% 15/05/2026 |
1.6% |
Total |
19% |
Top 10 Holdings
Security name Holdings Weight |
US Treasury N/B 1.75% 15/11/2029
Holding Weight 2.7%
|
US Treasury N/B 1.875% 30/11/2021
Holding Weight 2.5%
|
US Treasury N/B 2.25% 31/01/2024
Holding Weight 1.8%
|
Bundesrepub. Deutschland 0.00% 15/02/2030
Holding Weight 1.8%
|
US Treasury N/B 2.25% 31/03/2026
Holding Weight 1.8%
|
US Treasury N/B 1.75% 31/07/2024
Holding Weight 1.8%
|
US Treasury N/B 2.25% 15/08/2049
Holding Weight 1.7%
|
US Treasury N/B 2.50% 15/05/2024
Holding Weight 1.7%
|
US Treasury N/B 1.50% 15/02/2030
Holding Weight 1.6%
|
US Treasury N/B 1.625% 15/05/2026
Holding Weight 1.6%
|
Total: 19% |
Portfolio Allocation
- • 74.3 World Bonds
- • 12.7 American Equities
- • 5.7 Deposits
- • 3.9 European Equities
- • 1.7 Asia Pacific Equities (ex China/HK/Japan)
- • 1.7 Japanese Equities
- • 1.0 Chinese & Hong Kong Equities
- • 0.3 Other Equities
- • 1.3 (Negative)Cash & Others
The materials provided are for information only and do not constitute as an offer. For investment advice, please consult professional advisors. The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. MPF.HK shall not be responsible for any consequential effect, nor be liable for any direct, consequential, incidental, indirect loss or damage, howsoever caused, arising from the use of, inability to use or reliance upon any information or materials provided on this website, whether or not such loss or damage is caused by MPF.HK. Links to third party sites are provided for your information only. The content and software of these sites have been issued by third parties. As such, MPF.HK cannot be responsible for the accuracy of information contained in these sites, nor be held liable for any loss or damage arising from or related to their use.