Investment Objective
To achieve long term capital growth by investing primarily in the equity markets of Hong Kong and Taiwan; or companies that derive a predominant portion of their revenue and/or profits from Greater China region which includes Mainland China, Hong Kong, Macau and Taiwan.
Fund Details
Latest Fund Expense Ratio: 1.48%
Launch Date(dd/mm/yyyy): 01/11/2011
Unit Price: HKD 26.3146
Fund Size: HKD 353.63M
Fund Commentary
Greater China equities closed June with positive returns. Chinese stocks delivered robust gains over the month and were amongst the strongest performers on a global basis. China’s official purchasing managers’ index of manufacturing activity came in at a stronger-than-expected reading of 50.9, whilst the Caixin/Markit manufacturing purchasing managers’ index rose to 51.2, its highest reading since December 2019. Beijing was forced to re-impose lockdown measures mid-June following a new wave of COVID-19 outbreak traced to a local wholesale food market. Despite the imposition of a new National Security Law in Hong Kong that triggered concerns over Hong Kong’s long-term growth prospects, Hong Kong’s stocks rallied, mainly driven by the good performance of Chinese companies listed in Hong Kong. The Hong Kong Stock Exchange saw a raft of IPO interests from Chinese businesses looking for a second listing outside the US. Taiwanese stocks saw gains over the month, as technology equities recovered from losses due to the US-China tensions in May. In terms of sector performance, Healthcare was the strongest performer whilst Utilities lagged the broader market.
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 |
17.01% |
3.08% |
N/A% |
6.70% |
-6.15 | 2.58 | 33.00 | -19.77 | 20.77 | 6.97 |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since Launch (p.a. %) |
17.01% |
3.08% |
6.70% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
-6.15 | 2.58 | 33.00 | -19.77 | 20.77 | 6.97 |
Top 10 Holdings
Security name |
Holdings Weight |
TENCENT HOLDINGS LTD |
10.01% |
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD |
9.01% |
ALIBABA GROUP HOLDING LTD |
8.69% |
HONG KONG EXCHANGES AND CLEARING LTD |
7.04% |
AIA GROUP LTD |
5.76% |
CHINA MENGNIU DAIRY CO LTD |
3.09% |
MEITUAN DIANPING-CLASS B |
2.46% |
COUNTRY GARDEN SERVICES HOLDINGS CO LTD |
2.24% |
HSBC HLDGS PLC |
2.13% |
PING AN INSURANCE (GROUP) CO OF CHINA LTD H |
2.08% |
Total |
52.51% |
Top 10 Holdings
Security name Holdings Weight |
TENCENT HOLDINGS LTD
Holding Weight 10.01%
|
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD
Holding Weight 9.01%
|
ALIBABA GROUP HOLDING LTD
Holding Weight 8.69%
|
HONG KONG EXCHANGES AND CLEARING LTD
Holding Weight 7.04%
|
AIA GROUP LTD
Holding Weight 5.76%
|
CHINA MENGNIU DAIRY CO LTD
Holding Weight 3.09%
|
MEITUAN DIANPING-CLASS B
Holding Weight 2.46%
|
COUNTRY GARDEN SERVICES HOLDINGS CO LTD
Holding Weight 2.24%
|
HSBC HLDGS PLC
Holding Weight 2.13%
|
PING AN INSURANCE (GROUP) CO OF CHINA LTD H
Holding Weight 2.08%
|
Total: 52.51% |
Portfolio Allocation
- • 3 Cash and Others
- • 3 Materials
- • 3 Industrials
- • 6 Real Estate
- • 8 Consumer Staples
- • 10 Health Care
- • 13 Communication Services
- • 1 Energy
- • 22 Financials
- • 17 Information Technology
- • 14 Consumer Discretionary
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