Investment Objective
To achieve performance target not related to an index, and long term capital preservation with minimized short term volatility by investing in a diversified portfolio of global equities and fixed-interest securities. To adopt a dynamic asset allocation strategy in order to achieve optimal return under evolving market conditions
Fund Details
Latest Fund Expense Ratio: 1.23%
Launch Date(dd/mm/yyyy): 01/08/2004
Unit Price: HKD 24.7713
Fund Size: HKD 354.78M
Fund Commentary
Global government bond yields rose sharply at the start of June, touching the highest levels since March amid growing optimism over the outlook for the global economy. However, gloomy central bank predictions and an increase in new COVID-19 infections in the Americas, Europe and Asia caused yields to decline once more. News that many central banks were extending their bond-buying programmes also supported bond markets. Corporate bonds outperformed government bonds as credit spreads tightened.
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 |
| 2.49% |
1.59% |
2.91% |
3.21% |
-0.84 | 1.21 | 6.64 | -4.82 | 8.86 | -0.72 |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| 2.49% |
1.59% |
3.21% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -0.84 | 1.21 | 6.64 | -4.82 | 8.86 | -0.72 |
Top 10 Holdings
| Security name |
Holdings Weight |
| MUENCHENER RUECKVER AG |
1.88% |
| CLP POWER HK FINANCE LTD (REG S) VAR PERP 31/12/2049 |
1.77% |
| CDBL FUNDING TWO SER EMTN (REG S) (BR) 2.625% 01/08/2020 |
1.49% |
| ECOLAB INC |
1.48% |
| ICBCIL FINANCE CO LTD (SER EMTN) (REG S) 3.65% 05/03/2022 |
1.46% |
| NIPPON LIFE INSURANCE SER REG S (REG S) VAR 16/10/2044 |
1.43% |
| ELECT GLOBAL INV LTD (REG S) VAR PERP 31/12/2049 |
1.42% |
| ASTRAZENECA PLC |
1.39% |
| CHINA LIFE INSU OVERS/HK (REG S) VAR 27/07/2027 |
1.37% |
| CCCI TREASURE LTD (REG S) VAR PERP 31/12/2049 |
1.34% |
| Total |
15.03% |
Top 10 Holdings
Security name
Holdings Weight |
| MUENCHENER RUECKVER AG
Holding Weight 1.88%
|
| CLP POWER HK FINANCE LTD (REG S) VAR PERP 31/12/2049
Holding Weight 1.77%
|
| CDBL FUNDING TWO SER EMTN (REG S) (BR) 2.625% 01/08/2020
Holding Weight 1.49%
|
| ECOLAB INC
Holding Weight 1.48%
|
| ICBCIL FINANCE CO LTD (SER EMTN) (REG S) 3.65% 05/03/2022
Holding Weight 1.46%
|
| NIPPON LIFE INSURANCE SER REG S (REG S) VAR 16/10/2044
Holding Weight 1.43%
|
| ELECT GLOBAL INV LTD (REG S) VAR PERP 31/12/2049
Holding Weight 1.42%
|
| ASTRAZENECA PLC
Holding Weight 1.39%
|
| CHINA LIFE INSU OVERS/HK (REG S) VAR 27/07/2027
Holding Weight 1.37%
|
| CCCI TREASURE LTD (REG S) VAR PERP 31/12/2049
Holding Weight 1.34%
|
| Total: 15.03% |
Portfolio Allocation
- • 1 AUD Bonds
- • 2 Other Bonds
- • 2 EUR Bonds
- • 6 Cash and Others
- • 22 Equities
- • 1 HKD Bonds
- • 1 RMB Fixed Income
- • 65 USD Bonds
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