Investment Objective
To seek income and capital gains over the long run. by investing: (i) 60% – 70% of its assets in an APIF, Allianz Choice RMB Money Market Fund, a subfund of Allianz Global Investors Choice Fund; and (ii) 30% – 40% of its assets in another APIF, Allianz Choice HK$ Cash Fund, a sub-fund of Allianz Global Investors Choice Fund. Ranges of asset allocations are for indication only and may have short term variation due to changing market conditions and fluctuation.
Fund Details
Latest Fund Expense Ratio: 1.14%
Launch Date(dd/mm/yyyy): 01/10/2013
Unit Price: HKD 14.6785
Fund Size: HKD 72.68M
Fund Commentary
The offshore RMB strengthened 0.9% against the USD in June; this was mainly due to the weaker USD as risk-on sentiment dominated. In addition, the currency was helped by news about China intending to increase its purchases of US agricultural goods in line with its trade deal commitments. On the other hand, negative headlines such as clashes with India and a resurgence of COVID-19 cases in Beijing have had limited impact on the currency
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 | YTD |
| -1.29% |
-0.58% |
N/A% |
-0.32% |
-2.47 | -2.74 | 6.05 | -1.79 | -0.07 | -0.82 |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -1.29% |
-0.58% |
-0.32% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -2.47 | -2.74 | 6.05 | -1.79 | -0.07 | -0.82 |
Top 10 Holdings
| Security name |
Holdings Weight |
| DAH SING BANK LTD. 0.70% 02/07/2020 |
4.74% |
| ROYAL BANK OF CANADA SER EMNT 4.25% 29/09/2020 |
3.15% |
| OVERSEA CHINESE BANKING CORP LTD 1.05% 02/07/2020 |
2.96% |
| NATIONAL BANK OF CANADA SER EMTN (REG S) (BR) 4.30% 11/10/2020 |
2.80% |
| SHANGHAI COMMERCIAL BANK GROUP 2.00% 16/07/2020 |
2.33% |
| AGRICULTURAL BANK OF CHINA LIMITED, HK 1.95% 24/08/2020 |
2.18% |
| CHINA CONSTRUCTION BANK (ASIA) CORP LTD 2.32% 21/09/2020 |
2.13% |
| HONG KONG MORTGAGE CORP SER EMTN (REG S) (BR) 4.05% 06/11/2020 |
2.10% |
| CHINA DEVELOPMENT BK/HK (SER FXCD) (BR) (REG S) 2.54% 17/07/2020 |
2.09% |
| THE BANK OF EAST ASIA LTD, HKG 2.00% 31/07/2020 |
2.09% |
| Total |
26.57% |
Top 10 Holdings
Security name
Holdings Weight |
| DAH SING BANK LTD. 0.70% 02/07/2020
Holding Weight 4.74%
|
| ROYAL BANK OF CANADA SER EMNT 4.25% 29/09/2020
Holding Weight 3.15%
|
| OVERSEA CHINESE BANKING CORP LTD 1.05% 02/07/2020
Holding Weight 2.96%
|
| NATIONAL BANK OF CANADA SER EMTN (REG S) (BR) 4.30% 11/10/2020
Holding Weight 2.80%
|
| SHANGHAI COMMERCIAL BANK GROUP 2.00% 16/07/2020
Holding Weight 2.33%
|
| AGRICULTURAL BANK OF CHINA LIMITED, HK 1.95% 24/08/2020
Holding Weight 2.18%
|
| CHINA CONSTRUCTION BANK (ASIA) CORP LTD 2.32% 21/09/2020
Holding Weight 2.13%
|
| HONG KONG MORTGAGE CORP SER EMTN (REG S) (BR) 4.05% 06/11/2020
Holding Weight 2.10%
|
| CHINA DEVELOPMENT BK/HK (SER FXCD) (BR) (REG S) 2.54% 17/07/2020
Holding Weight 2.09%
|
| THE BANK OF EAST ASIA LTD, HKG 2.00% 31/07/2020
Holding Weight 2.09%
|
| Total: 26.57% |
Portfolio Allocation
- • 1 HKD Fixed Income
- • 12 Cash and Others
- • 13 RMB Fixed Income
- • 29 HKD Fixed Deposits
- • 45 RMB Fixed Deposits
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