Investment Objective
To seek a long-term capital appreciation by investing in a combination of North and South American equity market index-tracking funds. This fund is not an index-tracking fund. This fund is a portfolio management fund investing entirely in approved ITCISs.
Fund Details
Latest Fund Expense Ratio: 0.97%
Launch Date(dd/mm/yyyy): 23/09/2011
Unit Price: HKD 168.72
Fund Size: HKD 1,151.69M
Fund Commentary
The fund recorded -16.76% return in March. While COVID-19 will act as a ‘margin reset’, the slower growth environment we expect is likely to contribute incrementally to lower margins and return on equity on average, but it will rise gradually from a near-term trough. With regards to the acceleration of digitization and disruption of ‘old industries’, the US is in prime position to be the disruptor rather than the disrupted. We have high conviction that this force can offset margin weakness in the US as a result of lower growth rates. Most other regions enjoy much less of these competitive advantages.
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 |
| -16.92% |
2.40% |
N/A% |
6.33% |
-5.77 | 12.75 | 21.41 | -6.90 | 24.53 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| -16.92% |
2.40% |
6.33% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -5.77 | 12.75 | 21.41 | -6.90 | 24.53 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| MICROSOFT CORP |
4.78% |
| APPLE INC |
4.22% |
| AMAZON COM INC |
3.23% |
| FACEBOOK INC |
1.60% |
| VALE SA |
1.58% |
| BERKSHIRE HATHAWAY INC CLASS B |
1.42% |
| ALPHABET INC CLASS A |
1.39% |
| ALPHABET INC CLASS C |
1.38% |
| JOHNSON & JOHNSON |
1.37% |
| ITAU UNIBANCO HOLDING ADR REP PRE |
1.31% |
| Total |
22.28% |
Top 10 Holdings
Security name
Holdings Weight |
| MICROSOFT CORP
Holding Weight 4.78%
|
| APPLE INC
Holding Weight 4.22%
|
| AMAZON COM INC
Holding Weight 3.23%
|
| FACEBOOK INC
Holding Weight 1.60%
|
| VALE SA
Holding Weight 1.58%
|
| BERKSHIRE HATHAWAY INC CLASS B
Holding Weight 1.42%
|
| ALPHABET INC CLASS A
Holding Weight 1.39%
|
| ALPHABET INC CLASS C
Holding Weight 1.38%
|
| JOHNSON & JOHNSON
Holding Weight 1.37%
|
| ITAU UNIBANCO HOLDING ADR REP PRE
Holding Weight 1.31%
|
| Total: 22.28% |
Portfolio Allocation
- • 8.09 Brazil
- • 3.57 Mexico
- • 85.45 United States
- • 2.40 Other Countries
- • 0.49 Cash and Others
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