Investment Objective
To achieve long-term capital growth by investing primarily in Hong Kong equities, including Chinese securities listed in Hong Kong.
Fund Details
Latest Fund Expense Ratio: 1.44%
Launch Date(dd/mm/yyyy): 01/08/2004
Unit Price: HKD 53.6379
Fund Size: HKD 1,371.61M
Fund Commentary
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. Furthermore, looking at economic data, 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. In terms of sector, Information Technology was the strongest performer, whilst Services was the laggard.
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 |
-0.67% |
0.35% |
4.56% |
8.38% |
-6.19 | 0.89 | 33.55 | -17.35 | 11.09 | -1.04 |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since Launch (p.a. %) |
-0.67% |
0.35% |
8.38% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
-6.19 | 0.89 | 33.55 | -17.35 | 11.09 | -1.04 |
Top 10 Holdings
Security name |
Holdings Weight |
TENCENT HOLDINGS LTD |
9.57% |
AIA GROUP LTD |
7.36% |
HONG KONG EXCHANGES AND CLEARING LTD |
5.52% |
CHINA CONSTRUCTION BANK CORP H |
4.66% |
ALIBABA GROUP HOLDING LTD |
4.35% |
MEITUAN DIANPING-CLASS B |
4.29% |
PING AN INSURANCE (GROUP) CO OF CHINA LTD H |
3.08% |
GALAXY ENTERTAINMENT GROUP LTD |
2.79% |
CHINA MERCHANTS BANK CO LTD H |
2.53% |
CHINA INTERNATIONAL CAPITAL CORPORATION LTD |
2.51% |
Total |
46.66% |
Top 10 Holdings
Security name Holdings Weight |
TENCENT HOLDINGS LTD
Holding Weight 9.57%
|
AIA GROUP LTD
Holding Weight 7.36%
|
HONG KONG EXCHANGES AND CLEARING LTD
Holding Weight 5.52%
|
CHINA CONSTRUCTION BANK CORP H
Holding Weight 4.66%
|
ALIBABA GROUP HOLDING LTD
Holding Weight 4.35%
|
MEITUAN DIANPING-CLASS B
Holding Weight 4.29%
|
PING AN INSURANCE (GROUP) CO OF CHINA LTD H
Holding Weight 3.08%
|
GALAXY ENTERTAINMENT GROUP LTD
Holding Weight 2.79%
|
CHINA MERCHANTS BANK CO LTD H
Holding Weight 2.53%
|
CHINA INTERNATIONAL CAPITAL CORPORATION LTD
Holding Weight 2.51%
|
Total: 46.66% |
Portfolio Allocation
- • 3 Cash and Others
- • 3 Materials
- • 3 Industrials
- • 6 Information Technology
- • 6 Health Care
- • 6 Consumer Staples
- • 8 Real Estate
- • 13 Communication Services
- • 2 Energy
- • 2 Utilities
- • 30 Financials
- • 18 Consumer Discretionary
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